Move over millennials, there’s a new generation in town and they want more from brands like us. Meet Generation Z.
Firstly, who are they?
Gen Z also known as the iGeneration are the next cohort to follow from the Millennials. Born between 1995 and 2000, they’re the next consumer group to hit our high streets. But who are they really?
They’re Financially Cautious
Generation Z grew up in the fall out of the financial crisis – they’ve never known a world where the banks are infallible. Growing up seeing how the financial crisis has impacted their families and society as a whole means they are very aware of the importance of saving and investing wisely and have only ever known the stigma around banks. Post Office has a great opportunity then to attract younger customers who want the security of a brand they know but don’t want to interact with larger corporate banks.
They’re Socially Conscious
Gen Z are more socially conscious than their millennial counterparts and drawn to companies who are reflective of their own ethical inclinations. Brands are recognising this in their customers and acting on it. Just a few months ago, the coffee shop, Pret a Manger started an initiative to reduce waste by offering money off for customers who use their own cups. At Post Office we’re in a great position as social purpose isn’t an initiative we have to implement. Social purpose is in the very DNA of our business and young people recognise that and want to work for us and interact with us.
They’re Digital Natives
Gen Z are the first generation to be truly digitally native. They’ve grown up with access to the world’s information at their fingertips. Post Office is increasingly a modern, forward thinking company. Even though we’ve been around for 400 years, our tech capabilities are just starting out meaning innovation is at our heart. We want to engage with customers and implement products and services that they want. Gen Z are tech trendsetters and the nature of our business means that we can shape the areas of the business to fit customer needs. Whether it’s with our traditional products in FS or in new products like digital identity.
They’re less traditional
Gen Z are less traditional in their outlook. They’re unconcerned with fitting definitions and social norms meaning their notion of gender, sexuality, family, work life, culture and beyond is fluid. Whilst the Post Office is an organisation steeped in tradition, we’re operating at the forefront of the field in terms of diversity and inclusion. We are at the heart of every community in the UK and our workforce is as diverse as the population we serve. We have thriving networks internally to promote diversity and we pride ourselves on empowering our people to be themselves.
So how do we get them to engage with us?
For these reasons and beyond we are hugely attractive to Gen Z – we’re flexible, fair, fast paced. All the things they want. Our biggest challenge is telling them about all of this amazing work we’re doing and making them feel like the Post Office is relevant to them. Campaigns like CommonUnity and our continued investment in developing innovative products and services are all great examples of how we’re doing this. But there’s more work to do.
We all own customer, and we all have a responsibility to be ambassadors for Post Office and to tell our customers about all the great work we do. So let’s start today.