Generation Alpha
The buzz about Generation Z, or Gen Z, has been hard to miss the last couple of years. This new young, trendy demographic has been the focus of understanding, keeping up with, and most importantly, appealing marketplace. Today, however, Generation Z is far from the youngest audience, and neither are they the most financially powerful target group.
Enter Generation Alpha.
Generation Alpha comprises individuals born between 2010-2024, meaning they are currently 13 years old or younger. This generation is expected to be the largest one yet, with 2.5 million people being born worldwide every week. By 2025 the Alpha’s will consist of approximately 2 billion people.
In addition to being the largest generation, Generation Alpha is also likely to be the most diverse with minority groups collectively forming a majority. According to Perspetivo’s own studies we can see that 39% of Generation Alpha in Sweden has at least one foreign born parent. This is of course a very heterogenous group, but it is also growing rapidly.
Furthermore, Generation Alpha is the first generation to grow up in a digital world. As they spend a significantly portion of their day (and probably night) browsing through the internet, they are being exposed to and enriched with different perspectives, cultures and identities to a greater extent than their predecessors. Consequently, this generation is not only more diverse but also have possesses a deeper understanding about what diversity means.
Despite their young age, Generation Alpha has a very strong purchasing power. Not only do they consume a lot of social media marketing themselves, but also significantly influence their family’s consumption behavior. They have a strong say in their family’s choice regarding food, travel, interests and culture. They are after all named Alpha for a reason.
As this generation continues to grow, it is crucial to understand their behaviors, preferences and desires. And to determine how to engage and, most importantly, activate them in the marketplace.
So the question is, are you keeping up with Generation Alpha?
