The first smartphones began coming out back in 2007, over 10 years ago. The first people who bought smartphones then were generally in their 20s or 30s – but now a new generation is buying the first phones of their own. They have a different set of tastes and values, as well as a generally different income level. Are any of these people willing or able to purchase a brand-new iPhone 11 for over $1000 USD?
Gen Z is Mobile-Obsessed
Generation Z is considered those born between 1997 and 2012. And, for those between the ages of 16 and 22, research is showing they can barely put their smartphones down. In fact, smartphones represent their primary screen for using the internet. They watch less TV per day, on average, than their cohorts in older generations. Instead, they spend an average of almost 3.4 hours a day watching videos online. As opposed to concentrating video viewing in the evenings, 80 percent of Gen Z will watch mobile videos throughout the day – usually putting on videos in the background while they work on other things.
As a result, Generation Z truly cares about being always online, with 64% of the generation saying that they’re constantly connected, with many of them more concerned about their phones than their wallets. Almost 100% of surveyed members of Generation Z own a smartphone. What’s more, these teens and young adults are digital natives, with most having received a phone at age 12, as opposed to age 16 or age 20 for their older peers.
Lastly, most members of Generation Z are still living with their parents, which means that their opportunities to purchase new phones are a bit constrained. Still, these individuals are entering the job market in greater numbers, and over 50% have savings of some kind.
What Makes a Good Phone for Generation Z?
With their heavy preference towards online streaming video and constant connectivity, it’s clear that phones geared towards Generation Z need to share certain characteristics. They’ll need robust battery life in order to handle the heavy workload of streaming applications, plus high-resolution screens so they can enjoy their videos to the fullest. Lastly, they’ll look for fast connectivity – perhaps even phones with 5G capability – so they never have to wait while a video buffers.
All of this suggests that despite their limited incomes, Gen Z consumers are going to prioritize getting the newest and fastest phones. The recent iPhone 11 has been heavily advertised as possessing an all-day battery life, Gen Z appears to be strongly interested in 5G technologies, and a slew of new devices are attempting to increase their screen real estate with dual screen or folding screen options. These cutting-edge devices and technologies have succeeded in capturing the interest of the youth.
Money is the last part of the equation. While most members of Generation Z have some savings – and some may have generous parents – that may not be enough to allow Gen Z to purchase the newest and greatest devices.
Choose HYLA Mobile to Operate Your Device Trade-In Program
In order to fully capture Generation Z, carriers, retailers and OEMs need to utilize trade-in programs to make the devices more affordable. As digital natives, these individuals are going to need a seamless experience – or else they may shop elsewhere. With HYLA, it’s easier than ever to operate a trade-in program. Aside from doing a trade in person at a retail store, consumers can check the value of their device and conduct their trade using a branded app, clicking on your mobile site, or using their browser. With their trade-in dollars, they can choose to offset the cost of their device or apply that money towards new services or accessories.
Apart from technology and battery life, a robust device trade-in program is the key to unlocking the youth market for smartphones. Contact HYLA Mobile for more information.