HOW DO GENERATION SPECIFICS CREATE AN IMPACT ON BRAND IDENTITY?
Yes, it’s all about being generation-specific. The mindsets, grab-power, and perspectives vary in different generations. From Boomers I to Gen X to Gen Z have a lot of differences in opinions, decisions, and importantly the taste while buying. Brands are concerned about their consumer shifts and when it comes from different ages the concern gets an alarming nod. Mapping a consumer’s brain and analyzing what’s the reason for the shift is a damn tedious process and scratching scalps comes as a perk with it.
Boomers I possess an orthodox methodology with traditional ways of executing and they are not wrong though, because when they were raised there wasn’t a technology boom (scientific advancements were undergoing) and the feel of ease is the same as we feel today. In the 21st century, they are now head of the family and are respected by all means — the authoritative influence is present on their children and grandchildren reflects on buying patterns, somehow.
Gen X has developed their approach as they were raised while experiencing the sci-fi advancements but they too faced some limitations. Here is a factor that also influences the buying pattern in the regions in which they are raised. Are they raised in an urban neighborhood or suburban or downtowns or their hood is the ghetto? Moreover, brands somehow find it difficult to build a retail experience where caste, ethnicity, creed differences are at alarming rates. Political disruptions also stake the brand identity of a brand at larger risks — civil disturbances like riots, agitations, mass protests, etc. with the act of god can’t be avoided but they create a negative impact on that identity.
Then come the millennials that constitute the major part of the population of a country. They are foreseen as the future of the nation and the contribution they do to the economy is scalable. Number graph of their existence keeps on rolling up, and that’s a good sign for a brand to expand its consumer base. Millennials are well connected with technologies and have a keen interest in coping with new advancements quickly. Often categorized as young earners, they have plenty to spend on new savvy things. Brands always keep an eye scoped on them and find innovative ways to reach and allure them.
Per capita income also plays an integral while deciding on audience across boundaries. A global brand in this case has to measure the countries according to the first, second, and third world. The unified currency differs a lot in concurrent with consumers’ buying behavior. Post-third world countries pose a serious problem in targeting audiences as they lack the awareness of trends, fashion, technology, and importantly the lifestyle. In first-world countries, lifestyle is what people earn for, and brands that are or have emerged as a big player in the market play a major bit in providing that lifestyle. They rate them accordingly.
Now the Gen Z arrives on the scope of the brand. Either they are influenced by their boomer II, Gen X, or millennials as they have them in the form of their elder brothers, sisters, guardians, and grandparents. But the technology they have been raised on is just impeccable to match. Imagine or real it out — a five-year boy/girl handling a smartphone with complex features. They grab the tech very fast and in the 21st century they are in the age of 15 or so, brands scope them as projected customers for the future. That high school age is also very concerning about career. Brands place their range-ious products accordingly to target and market them. Each click of them is administered through different software that provides in-depth insights into their patterns and behaviors.
In the conclusion, we can derivate that besides geographical boundaries, Gen-Specification is also important to understand the consumer and their timely shifts fully and wholly.