Everybody's familiar with the Baby Boomers and the Millenials. We all know how they think, speak and act. A few years ago, a new generation of a target market came into being – the Generation Z.
In this age, hospitality businesses are already starting to target specific markets and cater to certain demographics. They say a millennial customer is very different from a baby boomer. Today, hotels are focusing on Generation Z, a young and very influential generation that has so much power and influence.
So how do you attract Generation Z to your property?
Let's define Generation Z first.
If the Millennials are the ones born from 1981 – 1996, the Generation Zs are the ones born from 1997 – present.
According to HotelTechReport, Gen Zs are more forward-thinking and progressive than any other generation in the past. And they have more clarity of thought and decision as well. They are more self-aware, more tolerant of diversity, and so much more entrepreneurial.
How Gen Z can help your business
If we compute the age of the Gen Zs, the age of the oldest Gen Z by now is 22. You might think that this age is still so young to be significant in the hospitality business. They are just starting their careers, and some of them might even be studying. The Campaign Monitor blog shows us some facts about the Gen Zs, which will be relevant to your business. According to their article, “By 2020, Gen Z is expected to account for 40% of all customers. Even more astounding, one expert says ‘Generation Z is one of the most powerful consumer forces in the market today. Their buying power is $44 billion and expands to $600 billion when considering the influence they have on their parents’ spending.'”
How to work with these adventure-seekers
Rachel Calkins of Tripleseat made a very remarkable description of the Gen Zs. Research on Generation Z behaviour shows how they desire to travel to new places, enjoy delicious meals out and take in emotional experiences often over physical mementoes. Hence, she also gave some tactics on her article on how hotels can take advantage of this behaviour and maximise their brand success.”
The hospitality business needs to prepare for its future guests
Gen Zs do not know the world before the internet. They can always get instant information and answer to everything they need. All of this means that hotels need to prepare their new marketing strategies and services. It will not only cater to the needs of this new generation, but more importantly, it will hopefully form strong customer relationships with their future clients.
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