Overview: Gen-Z is quickly rising to become the generation with the largest purchasing power! We have previously discussed the five factors that impact the success of an app with Gen-Z. However, in this blog, we have decided to go a step further, and zoom into their exclusive behaviors analyzed by our leading industry experts! Continue reading this blog to know all about it!
For the love of apps!
Talking about the love for apps that Gen-Z have, business leaders and entrepreneurs should understand that it’s not coincidental. Apps have managed to create cult followings among their users, and the trajectory of Apps itself is changing. However, business leaders and entrepreneurs should remember that being successful in the app landscape requires them to be a bit more empathetic and creative.
The concept of digital assets is relatively new, and businesses have to rethink their strategies in this new space. The change that Gen-Z goes through is anything but unidirectional. In a way, we are witnessing a cultural revolution like never before. For the first time in history, people are less interested in ownership and more interested in services. Take Uber, for instance. The success of Uber is a prime example of how Gen-Z is changing the marketplace with their needs. The most environmentally conscious generation yet, Gen-Z managed to break the general obsession with car ownership and feel just fine sharing their rides!
So, selling to this generation is pretty tricky. The product needs to exist in two places simultaneously- present and future. The product should also be sustainable and vocal about diversity and inclusivity. With a steadily increasing purchasing power, Gen-Z will soon outgrow baby boomers in terms of purchasing power and can even knock down the millennials as the largest generation to walk the earth!
So, skipping them is not an option if you want your app/digital product to live longer than you! With millions of applications in the App store and Play store, only a few of them manage to tap into Gen-Z’s purchasing power. And our industry experts have found a common thread among these successful apps that managed to make millions out of their existence! Providing scalable mobile app development solutions and strategy for nearly 20 years now, we are excited for the future of the market, particularly with the top technology trends molding the field!
The common thread: Synchronizing Design, content, and experience!
What successful apps do that others fail to do is strike a balance between the design, content, and experience. Take Instagram, for example. Instagram managed to board 300 million users in just 4 years! This is not something that happens due to sheer luck but the science behind its process. Instagram allows its users to scroll through oceans of content. Initially, the user is like the “King” on a chessboard. They take a step at a time, but soon enough, the system understands the user interactions within the space and brings up content that’s similar to these interactions.
Even though their algorithm is a work of art, what really gets the user hooked is rather the way a user can view the content. You can only watch a single piece of content at a time. Everything else is hidden from the user to prevent distractions. The interactions, too, are not clouding the user’s mind while navigating through the platform. Our industry experts identify this effect as “low cognitive loads”, and apps that nail this have better user retainment. Our data engineers say that exponential user interaction lays the foundation for the algorithm to be better, and such data can be leveraged by devising effective data strategies for the enterprises!
The content itself is minimal within the app. Instagram is hardly an app for long-form content and limits wordy content. Doing so diverts the attention to the visual part of the app, stimulating the user’s emotions. This is how Instagram became a massive spot for businesses to connect with their audience through influencers and even advertisements.
The formula works for other applications, too! Uber, Snapchat, Twitch, TikTok, Swiggy, Slice- basically every app in Gen-Z’s arsenal follows a pattern, and it’s based on bringing these principles together.
Reflecting the user
Though Gen-Z is not the one with the largest purchasing power(yet!), they are the most conscious about their purchasing behaviour. They relate with products that share their values and are especially inclined to subscribe to brands that fuel the vision for sustainability.
As a result of the recent pandemic, many ecommerce websites entered the market and were able to sway customer decisions towards them, even though they lacked the firepower to compete with huge industry giants. And business leaders, more importantly, those that put their app strategy at the core of their operations, should tear a page from this event!
Though Gen-Z is the most informed, their purchasing patterns are still erratic. By streamlining app experiences and coordinating the marketing channels, businesses can easily connect with Gen-Zers. Most consumers shifted to digital mediums to meet their daily needs, so a robust digital strategy will not only help you cover the base of one of the largest generations but also other consumer bases and archetypes.
Enterprises are aligning their strategy to match the digital world of tomorrow. Enterprise software development services have come a long way from where they started. Right now, for most brands, applications sit at the center of their digital strategy to fuel connectivity and encourage interactions. But soon enough, this will be replaced with experience. Given the rate at which the digital ecosystem is progressing, shifting to an “experience” model will set new benchmarks for consumer centricity.
Wrapping this up,
Brands will become more agile and flexible in the coming days. In a volatile market where business resiliency is a priority, brands need to find ways to be more creative, identify consumer needs even before they recognize them, and find a way to reach them before their competitors. The digital revolution has also sparked a cultural revolution among the Gen-Z, and our industry experts predict that we are yet to witness a full-blown impact of the digital! While it provides opportunities for brands, it also nurtures intense competition within the marketplace. Brands have to find a way to retain their ROI while delivering continuous value to this highly conscious generation! Digital transformation companies in the market are helping various brands and enterprises to better fit into the present business scenario. And betting on technology and innovation is their best bet to change the tide in their favor!