Having an innovative perspective can go a long way in marketing. However, the world has changed drastically during the last 20 years, and especially during the last two. Today, reaching the consumer requires doing marketing for the 21st century, where technology, societies, geoeconomics, the environment, climate change and the pandemic have changed the way we do it. For their part, consumers have been strongly influenced by each of these and other emerging factors, developing desires and needs that are now becoming habitual to us. It has changed the consumption of almost all tangible and intangible products.
Millennials are very active, both as professionals and as consumers. Likewise, the call Generation Z He is very actively integrating himself into society. We find these two generations in people who are currently taking relevant commands in companies (Millennials) or those who are relatively new to joining the working life (the Z). However, the last generation that is seen to impact society in the near future is the Alpha; you should pay attention to her.
The term of Alpha Generation has been coined by Australian Mark McCrindle and his co-author Ashley Fell only this 2021. It refers to the most educated generation of all time, the generation with the greatest supply and access to technology, and in general, globally, the generation with the greatest possible purchasing power of all time. Despite the global definition, this Alpha generation is also found in Mexico, being the first completely born with that technological availability and accessibility.
The pandemic has exposed Generation Alpha to technology like we have never experienced before. The technology at their disposal is becoming an extension of themselves. This exposure occurs mainly in their elementary and high school years. A potential consequence of this is digital literacy, greater gamification (learning with games), short attention spans, among other issues of cognitive relevance. It is expected that, in many aspects, they prefer the virtual world to the real one. Various technologies and applications (some still under development) are supporting this, including artificial intelligence, autonomous cars, the economy of shared products (cars, houses, spaces, taxis, among others). These solutions along with many others are greatly facilitating the existence of consumers. The Alpha Generation will only know those solutions, it is the time that it has to live.
When looking at the Alpha Generation, we will notice that their consumption tendencies will be more oriented towards personal, mental well-being and self-care. The 2021 Euromonitor International report on consumer trends indicates a preference for convenience, personal improvement, security, use of time (management, leisure, recreation, education, work) among other personal nuances. Although these individuals are still very young, their purchasing power is becoming more relevant and autonomous. However, the evolution of this generation will be more than relevant for the near future.
By: Dr. Jorge A. Wise, Professor of Marketing and International Business at CETYS University, member of the CETYS Graduate School of Business.
