People often refer to innovation as what happens in the future. But, for us, the future means what happens in this budget year.

In 2019, Millennials still hold the top spot in the most important consumer rankings (depending on what you sell). They are, of course, important in today’s market and will be for years to come. If you service Millennials and do it well, keep on doing it for as long as you can.

But bear in mind, things do change.

Things change

According to Courier Media, Generation Z (people born since 1995) will represent 40% of the market by 2020 and will have a spending power that is double that of any previous generation – including Millennials.

Gen. Z is different. These younger, discerning consumers are not impressed by aspirational fluff and bluster made of packaging and clever positioning. They want inspirational values. They don’t want you to align yourself with a worthy cause. They want you to behave in a way that makes them want to align with you. Be found guilty of exploitation, or of not thinking too hard about your materials, and they’ll drop you like a hot stone.

Get to know Gen. Z

Gen. Zs always turn to the internet for peer referral. They’re used to seeking out opinion online, and they take recommendations. These young people have only ever known a world where smartphones and social media are available. Ask a Gen. Z what they think about anything (everything) and they’ll search it up.

Getting to know Gen. Z is something that luxury brands and new brands are tuning into. If you sell consumer products, you need to get with this programme, and fast.

Innovate now

People often refer to innovation as what happens in the future. But, for us, the future means what happens in this budget year.

If you’re not thinking about next year in this way, room44’s Programme for Changemakers is the programme you’ve been looking for.

Future thinking. Future proofing. It’s what we do. Book time to talk here.