Commissioned by American Express the study „Raising the Bar: How Gen Z expectations are reshaping brand experiences“ revealed essential differences that manifest crucial expectations towards brands.
Besides findings about Gen Y’s and Gen Z’s expectations about financial institutions and how both generations manage their finances, the study draws a quite interesting conclusion about brand loyalty and how to capture Gen Z’s attention.
When it comes to interacting with brands, Millennials from Gen Y are more likely to talk over phone wherease Gen Z prefers getting in touch via automated systems. For example, Gen Z is 23 percent more likely than Gen Y to prefer interacting via social media to receive offers, incentives or sales notifications. The same applies to solving problems: More than twice as many Gen Z consumers ranked text messaging or talking over the phone with an automated system as their top preferred customer service channels.
Moreover, according to the study poorly designed mobile features, poor responsiveness on social media or slow response during online chat for customer services issues are reasons to become disloyal to a brand. To put it in a nutshell: In experiencing brands Gen Z is clearly more tech-driven as Gen Y – especially when it comes to brand loyalty.
Click here for more detailed information about the findings.