Move over millennials – there’s a new group of young people on the horizon for the housing industry. Gen Z – the group born in the mid-to-late 1990s and up until 2010 – is beginning to emerge in the workforce and in the economy. This week’s KBTribeChat discussed their particular likes and dislikes, how to appeal to them as a consumer and an employee and how they might change the industry.
The Mindset and Priorities of Gen Z
- Gen Z likes in-person and online/social interaction.
- They do their homework and know what they want.
- They don’t want to be sold, but they want to be educated.
- They are very culturally diverse and extremely concerned with human equality.
- They are willing to build digital careers over traditional businesses.
- These young people enjoy figuring things out for themselves, the freedom to move easily from one task to another and trying new technology.
- Gen Z will most likely enter the workforce early in life and are driven by security and planning.
How Tech Affects Them as Consumers
- Gen Z is more anxiety prone because they consume so much information through their technology.
- Tech is natural and fundamental for Gen Z, but detoxing from technology is also popular for them at times.
- Gen Z is sending and receiving more data than any generation before them; this affects them both positively and negatively. There is an overflow of information, so it’s more important than ever to be aware of credible sources of information.
- Technology dictates much of their research, shopping and decision making.
- They prefer to text rather than call.
What They Want in Their Homes
- Gen Z is concerned about the climate and environmental pollution.
- Spaces are more fluid for them. The formal dining rooms of the past are now flex spaces like playrooms.
- They like using new technologies to craft products with old materials and create new ones.
- Studies show they’re more focused on owning a home by 30 than previous generations.
- They research purchases among friends and send screenshots and links for input. They will do the same with home purchases and renovations.
- COVID might lead Gen Zers to choose single-family homes over apartments and condos.
Preparing for Gen-Zers as Employees
- Gen Z employees value clear goals, challenges and being involved in important matters.
- Businesses should involve them in problem solving company challenges.
- Ensure things are as digital as possible and understand that this generation probably won’t appreciate the value of traditional marketing solutions.
- Gen Z demands individuality, innovation and creativity.
- Use progressive communications and chat tools like Slack.
- Engaging and interactive design software is a plus for young designers looking to present their proposals.
- Include opportunities to bring measurable value to business in line with chances to progress career wise and financially.
How do you think Gen Z will affect the design industry? Let us know on our Facebook page or on Twitter @KBBconnect.
