Jewellery Focus April 2018 | Page 38

FEATURE GENERATION Z GENERATION Z the next wave of jewellery consumers At the recent International Jewellery Show in Hong Kong, a panel of industry experts discussed the need for the jewellery industry to be prepared for ‘Generation Z’, the post-millennial age group and the next incarnation of the jewellery consumer market. LEWIS CATCHPOLE asks who ‘Generation Z’ are and how can jewellers target them Who are they? “Brands are aiming to hit the coveted 18-34 age range, that is the so-called sweet spot which brands often think of as targeting Millennials. Hearing that is like hearing nails on a chalkboard for me”. Those are the words of ‘generation expert’ Angie Read, co- author of the book ‘Marketing to Gen Z: The Rules for Reaching This Vast and Very Different Generation of Influencers’. “They used to be 18-34,” she says, “but they have aged and the oldest Millennials are now 38-years-old and the youngest are 23-24, so if brands are after the 18-34 year range they are already targeting ‘Gen Z’ but they just don’t know it yet.” Although the exact start and end dates for ‘Generation Z’ vary, the most accepted version and the 98% of Gen Z still want to shop in Brick-and-mortar stores 38 JEWELLERY FOCUS one proposed by Read in her book, are from the years 1996 to 2010. This means that the oldest of ‘Gen Z’ are currently 22 years of age and the vast majority of them will be sitting between the ages of 13-18. Despite their age, Read explains that ‘Gen Z’ are more akin to their grandparents than they are to Millennials. “We call them old souls in young bodies, because