BUSINESS Generation Alpha, Able to Shape Buying Trends Their Buying Power Pushes Retailers to Diversify Marketing Strategies By Sarah McGoldrick Sunday, February 4, 2024 12:52 AM RELATED CONTENT The Consumer Now What’s on Tap for 2024? The Silent Generation Values Loyalty and Relationships Baby Boomers Continue to Have a Significant Impact on the Economy Gen X, AKA the ‘Me Generation’ Millennials Are Now in Power Gen(eration) Z, Growing Up as Digital Natives Who Are They… Generation Alpha is exploring their buying power as they reach adulthood. Not only does this generation, born between 2010 and 2025, have a better understanding of their buying power, they make their purchasing decisions based on social and political factors. Gen Alpha seeks out brands that are eco-friendly, inclusive and reflect an entrepreneurial spirit. A study by Razorfish found that more than 40 percent of Gen Alphas had used a tablet by the time they turned seven. Additionally, they are more tech-savvy than Gen Z, with 63 percent valuing the latest technology, compared to 31 percent of Gen Z. “Gen Z had a profound impact on how brands approached their consumer experiences, but companies need to brace themselves even more for the changes Gen Alpha will infuse,” said Dani Mariano, president at Razorfish. “The pandemic accelerated their adoption of technology, embedding it in nearly every part of their lives, including remote learning. They aren’t just digital natives; these are digital ninjas, and whether brands are ready or not, they’re coming.” Gen Alpha also has a greater understanding of the impact of social media. More than 75 percent of 8- to 10-year-olds are already considering their mental health, with a greater awareness and openness to the topic affecting buying choices and brand affinity. What They Are Known For… • Ensure your brand understands their level of consumer savviness. • They are more technologically and socially mature and ahead of their GenZ counterparts. • Alpha wants fame. Raised in the influencer generation, they understand they can shape buying trends. • No amount of innovation will stop Gen Alpha from expecting more advanced and better versions of products. • Gaming is a form of expression and should be woven into marketing plans. • Change the world for the better. Gen Alpha prefers to shop at companies that are having a positive impact on the world. • Beware of social media blunders. Not only does Gen Alpha get their information from social media, they can use it as a tool to “cancel” brands they deem as unfavorable.