Goodbye, Millennials: Hello, Generation Z

For the past eight years, all eyes have been on Millennials. The year President Obama was first elected The Huffington Post wrote this of Gen X, “The 2008 election not only marked the election of America’s first African-American president, it also saw the strong and clear political emergence of a new, large and dynamic generation.” Since that time, we’ve watched them grow up, turn everything on its head that Baby Boomers worked so hard to create and have researched their habits in order to cater to their wants and needs.

But times are changing and a new force is coming of age who’ll soon be entering the marketplace and have their own purchasing power: Generation Z. According to Zacks, an independent research company, “Gen Z has already started to impact the market significantly ($44 billion annual purchasing power just with their pocket money).”

Born between the mid- to late-1990s and 2010, the oldest of the party are now graduating college. Although it seems early, travel industry professionals should already be looking at what this will mean for the coming years. Traditionally brands have tried to lock in loyalty with guests at a young age, targeting teens early on. Yet, as Adjunct Professor of Marketing at Wharton Keith Niedermeier pointed out the school’s website, “the conventional wisdom now is that Generation Z is fickle, harder to reach and harder to lock in. As a result, there seems to be a lot of inaction inertia on the part of companies.” If companies continue down that path, they’ll run the risk of being late to the game and losing out on this new breed of travelers.

Nicolle Monico

Nicolle is an award-winning writer and Travel Editor using her expertise in the industry to write about luxury travel around the world. You can find her daily searching the web for the latest trends, best new hotels and most beautiful destinations to visit and share with her readers. She's been featured on The Huffington Post, Hard Assets, AMD Entertainment and Remy Martin. In 2014, she was vo...(Read More)

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