Gambling Industry and Generation Z: Interaction Models
While the gambling industry participants are still wondering how to meet the needs of millennials (Gen Y), a new younger generation of gamers appears. Z people are the first truly digital generation born during the era of globalization. Every year, more and more companies are discovering this new unexplored but potentially profitable audience. What is the difference between Gen Z and millennials and how to attract newcomers to the game? Read in a review.
A Completely New Type of the Client
About 96% of Z people own a smartphone and spend at least three hours and 38 minutes on the Internet every day. Generation Z prefers “less sex, drugs and alcohol” than their ancestors. According to psychologists, the concept of “gambling” logically fits into this chain. If this is the case, then in the next decade, marketing promotion for gambling operators will become much more difficult. Attracting the attention of the younger generation for a long time will not be easy. So, simple casino bonus codes and regular promotions will not be enough for gambling operators.
How to Understand the Gen Z Needs?
Recently, Barclays Bank has published its generational study. According to the results, people born in Gen Z have outnumbered the Millennials. In particular, Gen Z makes up 25% of the world’s population, comparing to 24% of Gen Y. The report highlights several key differences between the two generations in five areas:
- financial skills;
- attitude to work and education.
These differences have appeared due to various approaches to parenting, the global economy, and the availability of new technologies. Millennials were digital pioneers, mastering smartphones, the Internet, and social media. Generation Z is digital natives who have never had a time when digital technology was not available.
Despite the potentially huge impact that the next generation will have in the near future, many gambling marketers are paying surprisingly little attention to this audience. This is likely because they are still trying to understand millennials.
How to Attract New Audience?
All companies, including bookmakers and gambling operators, must change their strategies as per the nature of the new generation. Fortunately, the Z generation loves playing games. For example, US youngsters are particularly interested in the products of two media companies – Activision Blizzard and Electronic Arts. The focus of both companies is on the revolutionary development of eSports.
ESports will be the main sector for Gen Z. Most sports betting operators have already implemented esports betting alongside the usual events that are of interest to millennials and older generations. Engaging the next generation will require a shift from textual information to visually oriented applications.
Times are changing fast. Millennials and Gen Z already make up the majority of the world’s population, and only by meeting their needs, the industry will be able to maximize its profits and keep the flow of players.