Are you ready for your future customer?
Generation Z are individuals born in the mid or late 1990's to date.
There are many trends that describe this Generation, some of which include:
- 76% are concerned about man’s impact on the planet.
- 60% want to have an impact on the world with their jobs (compared to 39% of millennials).
- 84% multitask with an Internet-connected device while watching TV and they have more than 10 apps on their smartphone with 10% having more than 40.
- 77% of Gen Z’s are either extremely or very interested in volunteering to gain work experience.
Apart from the obvious risk of potentially not understanding this generation, other risks (based on the above) are potentially in the area of social responsibility, being environmentally responsible and potentially assisting to fight youth unemployment (particularly in Africa).
In South Africa, individuals below the age of 35 years constitute about 66% of the total population – many of whom are the Generation Z – how is your future strategy aligning to meet the expectation of these future customers?
#What must fall next?
The recent protests around fees have highlighted how combined efforts and mass mobilisation can spread rapidly and bring institutions to a standstill as well as sectors of our society to a complete stop.
These protests also had an added dimension of transcending the traditional (mainly) racial, religious and gender groups that usually define them. Ordinarily student protests would constitute black African students in historically disadvantaged institutions going on protest – this was not the case.
The question for business is whether or not the corporate sector has stepped up to the plate with regard to responding to social issues?
Did any of our institutions step up to the plate and play a meaningful role in assisting to resolve the impasse?
Are social issues only the problem of government? If so, will the corporate sector remain spectators when there is another social issue causing protest?
Is involvement in social issues an unfair expectation on business?