Today’s Purchasing Power House

by Patricia Braithwaite 05/12/2019

The Internet has changed the way you shop, but it has also changed the way retailers market their goods. No longer do families travel downtown on a Saturday afternoon to do their summer or back-to-school shopping. Nor is the mall the ultimate location to find all the current fashion and hang out at the food court. What was trending last week is now so-last-week. To understand the shift in the retail markets you need to know how people are shopping today and who is doing the purchasing. 

Generation Z is too big to ignore

The buying powerhouse in the United States has now shifted from what was the largest consumer base, the baby boomers, to Generation Z. Their buying dollar estimates are in the billions, and they are an educated group with definiteness of purpose. They possess a comfort level with technology that no generation before has. Since birth, they have had access to an ever-changing landscape of innovation and groundbreaking advancements in almost every segment of their lives. This ever-evolving environment has them expecting change and developing and adapting skills to navigate their lives. When you want to get their attention, you will need to think less about branding your product and more about this generation as individuals.

Tied to technology but living in reality

This generation Z lives both online and offline and sorts through massive amounts of information continually. They are making choices on how to spend their time, who to spend time with and what to purchase, all at lightning speeds. So, you may wonder, how does a retailer get information to them about a product or service? They need to be on point. Generation Z appreciates the bottom line about what your product does, and they will decide if they are interested. Trying to convince them or, if they think you are working too hard to sell them; that is a turn-off. Besides, generally, they want to support companies with quality products that also promote a cause or give back in some way. They are globally-minded and take up for humanitarian and other causes with passion and commitment.

Word-of-mouth or Instagram? 

Social media and its many platforms have created a massive impact on how Generation Z spends its money and how they pass the word along about products and companies. The trending influencers can cause ripples across a market within hours. The marketing world has changed are you prepared to serve this new powerhouse of consumers?

This week try to see how often you use your mobile devices to be a consumer. If you're in the housing market, seek out a real estate professional with a mobile presence to promote to young buyers.

About the Author

Author
Patricia Braithwaite

Braithwaite Realty Specialties Marketing and Sales in the NW Atlanta areas of Cobb and Paulding Counties specializing in both Commercial, Land and Residential properties as the Listing Agent and/or the Buyer's Agent While serving the real estate needs for the great people of NW Atlanta area for more than 20 years, Pat and her Assistants have met and helped many wonderful people. It has been their privilege to help others take their families, their estates or their employees to the next stage in life, obtaining their future dream.

As a Realtor and a Professional, Pat has used her targeted resources to help Buyers and Sellers make valued decisions and move forward with their Real Estate goals and needs. Beyond her many years of helping local Buyers and Sellers reach their dreams, she is a hard working Broker, highly involved with each Client and Sale.

As a highly ranked Rainmaker on Active Rain, a CDPE (Certified Distressed Property Expert) and an ePRO Specialist (National Association of Realtors Marketing Certification) and her active partnership with 11Alive - Marietta, she keeps her interests and knowledge sharp and current. Some of Pat’s professional Community accomplishments include Founding President of the Rotary Club of Dallas, 2015 Member of Rotary Club of East Cobb, Founding Board Member of the Paulding Education Foundation and the Foundation's original Scholarship Foundation Chairperson. In 2006 she was honored with the Atlanta Commercial Board's Multi-Million Dollar Achiever Award.

During the Recession, she turned her focus and abilities to match Buyer and Seller homeowner needs and together, they made major progress through hard work and success, reaching multi-million sales per year. Yes, the Buyers and Sellers worked hard through this process also… and through teamwork and targeted efforts, they succeeded. Now the market has recovered for both Residential and Commercial. Pat and her team reorganized and focused to help both markets achieve their goals for their exciting new future.

Pat loves utilizing her previous years of experience in the corporate world in Sales and Marketing to help her wonderful client base succeed with their goals today. She looks forward to meeting and helping you also.

-Braithwaite Realty