New York, NY. – American Express recently conducted a study to reveal how Gen Z (16-22 year olds) expects to interact with companies & brands. The findings aren’t too shocking, as we’ve been following this group’s habits and behaviors for a while. But the statistics have us curious just how pharma brands will respond as this generation grows up and starts supporting their own healthcare needs.
Here are some of the key stats that stood out:
Don’t talk to me. This generation is digital savvy, and will always prefer to handle conversations with a chat bot, or online in general. They aren’t keen on slow response within this communication area either.
I’ll do it myself. This generation is popular with solving problems on their own with only 18 percent responding they’d prefer some help with challenges.
I’ll manage my money, thank you. 81 percent of this group already makes purchases on their own with 77 percent admitting they keep a close eye on their own finances. 72 percent already have their own savings account. Digital-wallet transactions were also popular with this group (43%).
Responsive. This generation is big on social media – and the responses they expect there better be quick. 21% stated they would drop a brand based on a slow response time. Mobile experience is also high on the list, with 23% admitting they move on quickly from a brand with a poor mobile experience.
Why this matters:
Our team is constantly looking at how the shifting expectations are changing to help brands prepare and plan efficiently. This is great insight to confirming what we already know but also helping us shape tactics and strategies for brands that are always looking to keep ahead of expectations before their customers even realize they have those expectations.
One thing that stands out – making the patient out of pocket experience as seamless as buying a Starbucks coffee. Building solutions that are all mobile friendly is critical with this group as they begin to dip their toe into the healthcare marketplace as a consumer. What can we build with forward thinking customization that can be a complement to the older generations but a must add for this generation?