There’s a new face in town.
We should all be familiar with the different generations in our society (if not, check out our guide here), and if you’re anything like me you’ll instantly recognise the term ‘Millennials’. However, there is a new generation in town called Generation Alpha, who are predicted to be the “most transformative generation ever”. Let's explore...
Generation Alpha, born between 2011 and 2025, are the children of the millennials and will be the first generation to be born solely in this century. Do you feel old yet?
They are similar to Generation Z (born 1996 – 2010) in that they will grow up with technology, meaning they will therefore be more savvy in using it than previous generations. But, developed technology will be more widely available for Alphas, both at school and at home, than it was for Generation Z. The technology will also be more complex, no longer developing but evolving. This will have an impact on their interaction with the outside world and the people within it. With everything at their fingertips, they will rely on this instant connection in every aspect of their lives.
Wealth and Education
Generation Alpha are predicted to be the wealthiest generation yet, not just because of the dominance of technology in everyday life and business but also because there will be fewer Alphas; interestingly, many will be in a single-child household. They are likely to stay in education for longer and join the workforce later than those before them, thereby postponing adult responsibilities and starting a family. Their custom and talents will be in higher demand, making them better off financially than the generations before them.
The wealthiest generation yet
Diversity and Individuality
Generation Alpha will have increased cultural diversity and individuality. This is something we’re already starting to see in society today, with frequent debate relating to the controversial ‘labels’ which are placed on people; these labels include gender, race and sexual orientation. Alphas will be concerned for their rights as individuals and will expect more personalised services.
What does this mean for marketers?
Marketers should prepare for their most demanding audience yet. This generation will be experts in technology and individuality, and so will expect accessibility through apps and for services to be as customisable and fast as possible. The ease of sharing opinions and experiences means that bad customer service or poor workplace practices could cause big brands to lose the loyalty of their customers and ultimately be wiped out. The loss of big brands is something we are already starting to see on high streets, with examples including British Home Stores (BHS) and ToysRUs.
Experts in technology and individuality
Because of their increased wealth, making a profit will be less of a concern to Alphas. This generation will be more motivated by ethics and purpose. When looking at entering the workforce, Alphas will judge their next steps based on what impact they can have on the lives of themselves, their communities and those around the globe. Corporate Social Responsibility (CSR) will be important, with companies needing to demonstrate that they are “a force for social good” in order to attract Alphas. Increased accessibility online means Alphas can easily find out when this is the case or not. This means that, as a society, we will see further steps being taken towards equality and tackling of global issues.
With the oldest of the Alphas being eight years old, we cannot yet be sure of what to expect from them or what changes they will bring. However, if these predictions are anything to go by, you better get ready for a whirlwind of change as we enter this new era.
If you want to know more about the different generations and find out which applies to you, check out our blog “Do you know your MILLENNIALS from your GENERATION X?” here!