According to a recent report from Gen Z Planet, a research and advisory firm, Gen Z’s disposable income has reached a total of $360 billion in the U.S. and will only increase as more members of the generation enter the workforce. With millennials surpassing baby boomers as the largest adult generation living in the U.S., according to the U.S. Census Bureau, now is the time to develop a plan to cater to younger generations of customers.
Younger generations are less tolerant of poor customer service and are less loyal, with 88% of Gen Z consumers loyal to five or fewer brands. To capture this audience, it’s critical to develop strategies that allow them to easily and conveniently resolve service issues, both online and in stores.
Fleeing From Phones
Younger generations prefer self-service solutions since they grew up with easy access to the internet, which allowed them to solve problems on their own. Create an informative, easy-to-navigate website for these customers and add communication options such as chatbots or texting.
Sources: Talkdesk ResearchTM Report: Winning Gen Z Through Exceptional Customer Service; Show Me the Money Report, 2021, Gen Z Planet; National Population by Characteristics: 2010-2019, United States Census Bureau