As Gen Z gains major spending power, brands like Sephora and The Knot are rethinking their marketing strategies beyond millennials
Big brands are taking big strides to gain their loyalty.The older members of Generation Z, people born between 1997 and 2012, are starting to achieve financial independence and are hitting milestones like marriage and the start of their careers. Companies as diverse as Sephora, SiriusXM, and The Knot Worldwide are doubling down on their marketing efforts to attract that audience.
Over the next year, one of the most important initiatives for Sephora CMO Zena Arnold is to position the cosmetics company"to be the retailer of choice among customer growth segments like Gen Z," she told Insider."This generation inspires us in so many ways and we continue to be engaged in how they approach and shop for beauty."
"Gen Z is focused on the experience they're creating for their guests," Lewis told Insider. Gen Z's perspective on marriage impacts the type of products and services The Knot has on its vendor marketplace, where people planning weddings can find relevant services. That marketplace is a major revenue driver for the company. As Gen Z customers start to plan their marriage, new types of vendors have emerged, Lewis said.
While Watford's mandate also includes non-Gen Z millennials, some in the advertising industry have shifted focus onto Gen Z, which is more open to brand messaging, particularly in environments like video games. Super League Gaming builds elaborate branded experiences in video game environments. For instance, it placed Barbie's Dreamhouse in Roblox last October for its client Mattel.
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