Discussion - The Modern Buyer The Growing Influence of Gen Z

[scene.of.the.crop]

Hi, everyone!

We’ve posted our final installment in “The Modern Buyer” blog series where we are diving deep into the shopping experience today’s buyers expect, and what this means for eBay sellers.

Today’s article covers the youngest generation, Gen Z. This generation, born between 2000 and the mid-2010s, are already earning their own money—and influencing how their parents spend theirs.

I’m Jennifer Deal, eBay Seller Marketing Manager, and I’ll be popping in and out of this thread to answer your questions and infuse some discussion points over the next couple of days.

[video]

Join the discussion below!

[richards*rock*collection]

Generation Z, the only generation that calls 911 when you take away their internet privileges.

[bargainsandbaubles]

It's also strange a lot of older people would rather whine about new technology than trying to figure out how to use it. It's amusing sitting at Burgerking and watching people trying to use the new touch screen drink dispenser, when it literally says on the screen what soda you are getting. A lot of stuff is simple to learn, but they close mindedly refuse.

[nawlinsron2]

" I will say this, your generation is about the most "Stick in the mud" generation to exist."

Have you considered going back one more generation to thank them that you even exist?
"My generation" does.

[bargainsandbaubles]

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@nawlinsron2wrote:
" I will say this, your generation is about the most "Stick in the mud" generation to exist."

Have you considered going back one more generation to thank them that you even exist?
"My generation" does.

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Being born isn't an option..

[hioctane62]

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@nawlinsron2wrote:
" I will say this, your generation is about the most "Stick in the mud" generation to exist."

Have you considered going back one more generation to thank them that you even exist?
"My generation" does.

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Actually, most in the generations since baby boomers want to BLAME somebody for the fact that they exist.

[gracieallen01]

If I may ask, what is it about the Millennials with which you do not wish to be associated?

[littleguineapiggy]

Your generation has to gripe when they have to use the same internet.  Things change, get used to it.

[scene.of.the.crop]

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@terrycanarsky wrote:

Fair enough.  Let us ignore all the anecdotal stories brought to you by sellers (and, presumably, buyers) to show you that these deductions are not quite accurate.

1) how desireable are my products in the near or long term future?

For this particular 'generation'?  Not at all.  We deal in industrial surplus, for the most part.  As I have already stated, until this group is in the employment scene in a meaningful manner, they are not our buyers.  Period.

2) do I have to market/package or sell them differently?

See answer to point 1.

3) what's my exit strategy if I don't care to sell to this audience or in line with their preferences in the future? 

Seriously.  Are you, my "business partner" suggesting to pack up our tent now based upon this silly blog's extrapolations of the generation whose oldest members are barely 21?  Or perhaps you believe robots will take over the world and release people from the onerous task of manufacturing and industrialization, so there will be no need for our type of business after the current work force dies off.

See, that's the problem with looking at these e-commerce reports and considering them the be-all and end-all of marketing.  There is no one answer.  Please, for the sake of us all, stop trying to make it so. 

Change is inevitable, yes.  But let's change according to real criteria, not what random miniscule surveys and SEO keyword authors purport as gospel.  Acknowledge that we sellers might just have some knowledge of how to sell our product to buyers.

~M

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@terrycanarsky - an exit strategy can be as small as planning to eliminate a product line that no longer appeals to a buyer base if that is your audience. You are already addressing that Gen Z is not a relevant audience because they are not in the need of your current products. You also point out that change in inevitable.  

[scene.of.the.crop]

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@bargainsandbaubles wrote:

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4. Please stop calling us the "entitled" generation.

Most of us have to go to college and work 30 hours a week just to make what you did for a factory job fresh out of high school. We also face much higher education costs, health care costs, housing costs, etc. Things are much harder for us than they were for you, although most people your age can't realize it. My dad landed a job in 1971 that started out paying what would be $25 today at a factory. That same factory pays about $16 an hour now, and unless you have some college under a belt, they won't give you the time of day.

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@bargainsandbaubles Appreciate your voice! 

At the same life stages, according to industry data, the younger generations may be spending about the same level as older generations - all things being equal, but relative to their formers, they are not making the same amount of income. The result is that they have less to spend because their expenses are higher. 

[a_c_green]

Questions for our blog authors here:

@katie_hammel

@emma_fulcher

@anthony_payne

For the group(s) that each of you focused on (I know Katie did two), what kinds of items do you envision those people buying on eBay? When people of your age range log in to eBay, what are they looking for?

Do you see a lot of difference from one group to the next in terms of what items they should be finding on eBay?

If they're not buying here right now, where are they getting their items?

What differences did you find between where they're purchasing now and how eBay is selling (but apparently not to them) now? (i.e. There must be more to life and the Shopping Experience™ than just Free Shipping... )

[aislynkat]

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@jason_incognitowrote:

I have had a hard time putting my finger on it, but I finally realized something. 

eBay is trying to build a whole new site from nothing. They aren't looking at the site here now and seeing what works, what doesn't and tweeking it.

They are ignoring what is going on now. They are ignoring years of markets. 

If you want to know what's working and what isn't, look at the site now and figure it out. But eBay doesn't seem to want anything to do with eBay? They have the God complex that they're building a new marketplace. They don't care about what's here now. They have done research. The arrogance is showing.

So, basically I'm suposed to abandon eveverything I know about selling and making money, everything that has made me money, and throw myself behind some unproven ideas that came about from some market research?

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I agree. Would say they, ebay, have not only a God complex, but a Snob complex. Ebay brass is ashamed of, well, ebay. 

[sockmonkeydave]

@scene.of.the.crop

With all due respect, you are wrong, kids today do not have anymore income than 50 years ago.

Now I will grant that some may, but when they closed the factory, and shipped it off shore.

The town died...

Gen XYZQ  they have kids and are living at home with the parents.

And you know what, we are good with that, gives us a chance to see the grand babys.

Kids today are not into the buying things, they want life experiences.

Kids... nothing but little germ factories

Momma I need a beer and more chocolate

https://www.youtube.com/watch?v=S4Ah2dxTcWw

oops wrong song

[castlemagicmemories]

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@a_c_greenwrote:

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@a_c_green wrote:

I can't help thinking that there would be more value to sellers by showing them how to broaden their horizons and their potential market, rather than narrow the focus to only the young, affluent sellers who will dump you in a heartbeat as soon as the next shiny thing comes along.

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Okay, I meant to write "young, affluent buyers" there, of course.

Coming up: my six-part series on why people who should know better keep writing "seller" when they mean "buyer," and vice-versa... 

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a_c, only 6 parts?

[littleguineapiggy]

As a Marketing student who's about to graduate, there are SOOOOOO many things wrong with what ebay is trying to do, and what was said in that one article.

1.)  This generation will not be a powerful force for another 5+ years at least.  Even though they have some influence, they don't have it all.  Millennials and baby boomers are the two largest generations.  Therefore, not targeting your inventory to a rising and inconsequential market is a good move.

2.)  Millennials are the ones that have a faster net wealth growth than previous generations.  They are more likely to be educated, get wealthy sooner, and currently, 10% of millennials have $100k+ in the bank.  Why would you target their little siblings?

3.)  Finally, millennials (at least the older ones like me) were the first tech generation.  We also set the trends for many industries, and there are more sites that cater to us.  We prefer a cleaner, more boutique asthetic, simpler interface, and we enjoy more products made in America, that are better quality, and sustainable/eco-friendly.  I owuld love to post several links to back up my research.  

Basically, I fail to understand how this was published as an aid, when the research was misinterpreted so bad.

[bargainsandbaubles]

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@sockmonkeydavewrote:

@scene.of.the.crop

With all due respect, you are wrong, kids today do not have anymore income than 50 years ago.

Now I will grant that some may, but when they closed the factory, and shipped it off shore.

The town died...

Gen XYZQ  they have kids and are living at home with the parents.

And you know what, we are good with that, gives us a chance to see the grand babys.

Kids today are not into the buying things, they want life experiences.

Kids... nothing but little germ factories

Momma I need a beer and more chocolate

https://www.youtube.com/watch?v=S4Ah2dxTcWw

oops wrong song

---

In 1970, the gross median rent for an apartment in Iowa was $99.

Mininum wage was $1.45

Average public 4 year college was $358 a year.

You had to work 68 hours to afford rent.

246 hours to afford college.

TODAY

The gross median rent in Iowa is $718

Min wage is $7.25 an hour.

A public 4 year college is $22,702 a year.

You have to work 99 hours to afford rent.

..and 3,131 hours to afford college.

So just to get by, a person has to work 31 more hours a month to afford rent, and would have to work 60 hours a week at mininum wage to go to a 4-year college.

This is why so many live at home. Living on their own is not cost-possible.

The apartment their dad had costs about 7-8 times as much today, despite mininum wage being about $2.25 less an hour than it should be.

Then you have morons going "well mininum wage is not a living wage!", this is non-sense, because you COULD at one time.

Mininum wage is less now than it was in 1970 if you adjust it for inflation.