Move Over, Millennials and Make Room for Gen Z

Meet Gen Z, the first generation of truly digital natives born after 1995. At 26 percent of the population, they wield $44 billion in spending power and don’t remember a time without internet or mobile phones. By 2020, they will represent 40 percent of the population.

You might be thinking, “Gen Z? We just cracked the millennial code.” But it would be a mistake to think your homework (or strategy) is done. Millennials were a tough code to crack. They demanded a sea change in marketing strategy, with their love for texting, social media, and online shopping. They posted on Facebook and Instagram and opined on Twitter, and thanks to their heavy digital media usage, they produced reams of data—and generated plenty of headlines.

Gen Zers share some similarities with their millennial counterparts, but they present unique challenges, too. For one thing, they expect experiences to be instant, easy, and just a few taps (not clicks) away. And with so many of them in college and…