(5) How the New Media Affected New Generations, and How They Are Affecting Companies
As times change, so do people. Generations before the internet revolution did not have access to the platforms and apps that we possess today. These tools have enabled the new generations to learn and educate themselves in the language of technology. Technology has affected these generations and how they interact with others and the world around them. It is through new media that new generations have become more socially aware.
In today’s post I wish to discuss how the new media has created new generations; ones which are tech savvy and socially conscious. I am talking about the youngest generations; generation y and generation z.
Generation Y (or Millennials)
With the help of new media, millennials have come to see the world outside of their own neighbourhood. Their eyes were opened to the injustices and natural disasters happening in foreign countries and around the globe.
It seems that by 2030, millennials will account for about 75% of the active working force in the world (Mitchell). This means that organisations and companies will have to change their methods to accommodate them. This is because millennials crave more than just profits from their work; they crave a fairer and more equal world. Millennials are transforming the business world into being more socially aware, more transparent, and more environmentally sustainable.
Another point to mention is that millennials are not affected by traditional marketing, as they have been surrounded by advertisements from an early age. Thus, businesses must focus on building their reputations and goodwill in order to seduce millennials.
Generation Z (or Zoomers)
Zoomers are known to be the most racially and ethnically diverse generation. It is also because of new media that they are able to record and share issues from around the world
Zoomers are on the track to become the most educated generation yet and are more likely to have educated parents (which also increases the likelihood of zoomers continuing higher education). The open internet has also allowed zoomers to be able to educate themselves and be more independent. (Parker & Igielnik, 2020)
Zoomers use social media to stay in contact with their favorite companies, stay aware of global events, and view it as a potential career. Through the use of new media, zoomers are well informed and more able to define their own identity through it. This generation seems to be less focused on letting brands forming their identity.
Much like millennials, zoomers want to see the world change for the better, and wish for companies and businesses to be more social and politically conscious.
How Socially Conscious Generations are Affecting Present and Future Businesses
Social responsibility has become increasingly important and relevant to organisations that wish to garner the attention of the younger generations. As I have stated before, millennials and zoomers have been influenced by the new media and are more socially conscious citizens.
In this section I wish to address that millennials and zoomers practice their social consciousness through being a better consumer (among other things).
“By embracing social responsibility, sustainable principles and environmental governance, retailers have been able to boost customer trust and acceptance, reaping the benefits from their satisfaction with products and services, and gaining their loyalty” (Dabija & Bejan, 2018).
In their article Dabija and Bejan write how millennials prefer green DIY stores because they sell commodities that allow them to use resources in a responsible manner. While at the same time leaving a clean environment for the future generations, i.e. their children and grandchildren. The authors write that millennials are a generation educated in social responsibility and environmental protection, and they tend to choose stores that align with their ideas for pollution reduction. Essentially, millennials believe that they can use enough natural resources that they live comfortably, without putting future generations in danger.
This confirms what I have previously written, being that millennials are a socially conscious generation and they practice such consciousness by purchasing from stores with a socially conscious ideology.
On the other hand, Dabija and Bejan conclude that zoomers tend to choose the greener option depending if it makes financial sense to them. Meaning that having well priced product, while being green, is more likely to attract the zoomer purchaser.
Although to point out a limitation of the study, the researchers did not take into account the background, and income value that the sample possessed. Thus, such evidence about financial purchasing might need to be investigated further.
Public Recognition of Social & Political Rights
In this final section I will tie the relation between the new media’s effect on the new generations, and thus the effect that the new generations have on companies. I will do so by referring to Puncheva-Michelotti et al.’s paper about the relation between public recognition of social rights and the consumer’s ability to support socially conscious companies.
Puncheva-Michelotti et al.’s paper indicates that exposure to social and political rights increases the support towards socially responsible companies. In fact, countries with low social & political public recognition garner a limited amount of support towards such socially responsible companies.
Therefore, it is important to promote awareness; which is exactly what the new media did. The new media gave the ability to the new generations to promote awareness about social and political rights, and they did. The promotion to social and political issues to the public that made the public more socially conscious.
The literature concludes by saying that promoting social & political rights will produce more support towards companies that are socially responsible. Thus, other companies will be indirectly encouraged to be more socially responsible.
As usual, if you wish to research deeper into this topic be sure to check my references below.
- Cheng, M. (n.d.). 8 Characteristics Of Millennials That Support Sustainable Development Goals (SDGs). Forbes. https://www.forbes.com/sites/margueritacheng/2019/06/19/8-characteristics-of-millennials-that-support-sustainable-development-goals-sdgs/
- Fournier, C. (2017, September 25). How Generation Y is (maybe) saving the business world. https://youmatter.world/en/generation-y-millenials-changes-enterprise-responsible/
- Gen Z and the Impact of Social Media: It’s Complicated | Perspectives | R/GA. (n.d.). Retrieved 29 December 2020, from https://www.rga.com/futurevision/pov/gen-z-and-the-impact-of-social-media-it-s-complicated
- Mitchell, A. (n.d.). The Rise of the Millennial Workforce. Wired. https://www.wired.com/insights/2013/08/the-rise-of-the-millennial-workforce/
- Parker, K., & Igielnik, R. (2020, May 14). What We Know About Gen Z So Far. https://www.pewsocialtrends.org/essay/on-the-cusp-of-adulthood-and-facing-an-uncertain-future-what-we-know-about-gen-z-so-far/
- The Millennial Generation: Pro-Social and Empowered to Change the World | GreenBook | GreenBook.org. (n.d.). Retrieved 24 December 2020, from https://www.greenbook.org/marketing-research/millennial-cause-study
- Dabija, D.-C., & Bejan, B. M. (2018). Green DIY store choice among socially responsible consumer generations. International Journal of Corporate Social Responsibility, 3(1). http://dx.doi.org.ejournals.um.edu.mt/10.1186/s40991-018-0037-0
- Puncheva-Michelotti, P., Michelotti, M., & Gahan, P. (2010). The Relationship Between Individuals’ Recognition of Human Rights and Responses to Socially Responsible Companies: Evidence from Russia and Bulgaria. Journal of Business Ethics, 93(4), 583–605. https://doi.org/10.1007/s10551-009-0242-6
