Wavemaker unveils first of its kind research into the global Gen X consumer

• Gen X is on track to be the most affluent generation of all time, as $70tn of wealth is passed to them from Boomers.
• 92% of Gen X use social media every day, half of them use TikTok.
• Gen X represents almost a third (28%) of TikTok’s user base but only 5% of brand spend on influencer campaigns.
• Only 13% of Gen X feel represented in the social advertising they see, but when they do see their generation represented it doubles their preference.

Wavemaker today unveiled research into marketing mishaps and bias towards over-45s in social. The report, Finding the Gen X Factor, investigated 45-60 years old audiences or ‘Generation X’ often ignored by brands and the advertising industry, particularly across social media advertising.

Recognising a huge untapped opportunity, Wavemaker undertook first of its kind research into the global Gen X consumer. The aim was to challenge misperceptions and to understand what a successful Gen X social media strategy looks like.

Gen X is responsible for almost a third (27%) of global spending and has rapidly rising earnings and savings. Wavemaker found the majority (92%) of Gen X surveyed use social media every day and are the fastest growing generation on TikTok. Despite making up almost a third (28%) of TikTok’s user base, only 5% of brand spend on influencer campaigns is targeted at Gen X.

Accounting for over a third (31%) of the global population, only 4% of the ad industry’s research into different generations includes Gen X. A quarter (24%) of TV ads typically feature characters over 50 years old, compared with over three quarters (76%) which feature 19-49s. The research revealed that one in 10 (13%) feel represented in the advertising they see, far lower than younger generations, although significantly higher than Boomers (60-75s) at just 9%.

Typical influencer campaigns tested performed far worse with this group than with Gen Z and millennials with 30% lower retention rates, 20% fewer interactions with the content and 47% lower impact on brand opinion. Posts from Gen X creators performed better with that audience and are on average three quarters (75%) longer than posts from Gen Z (10-25s) or millennial (25-45s) creators. They also tend to be more in depth and informative and favour softer, self-improvement language over the direct, salesy tone employed by Gen Z. Although they will scroll past irrelevant content, if it’s worth seeing, Gen X are prepared to stick around when they are interested.

Trust is (30%) more important to Gen X’s buying decisions than it is for younger generations. They consider 27% fewer brands than younger audiences and their purchases tend to be more driven by need. In contrast, younger audiences are twice as likely to have the ‘treat yo self’ mentality and buy on impulse across everything from replacement shower gel to a new car.

Zoe Bowen-Jones, Senior Insight Director at Wavemaker said, “Gen X presents a huge opportunity for brands – they’re a highly engaged, loyal and wealthy consumers – and shouldn’t be overlooked by advertisers. Our research indicates that Gen X are more brand loyal, have longer attention spans and are more engaged on social media, ultimately proving to be more valuable consumers than their younger counterparts. When it comes to engaging Gen X audiences, brands need to think long-term, long-form and community-based content to gain their trust, loyalty and ensure they feel represented.”

Stuart Bowden, Global Chief Strategy Officer at Wavemaker said, “This research lays bare that GenX have their own distinct needs and wants and behaviours on social platforms. This report shows us not only the differences that the ‘wealthiest generation the world has ever known’ have in social media usage but much more importantly how we can recognise and respond. It’s a great reminder to give our attention to the places and the people that can best help our clients grow.”

Pam Kaufman, CEO & President International Markets, Global Consumer Products & Experiences at Paramount said, “We have incredible films and series that have defined pop culture conversations for generations, from Top Gun to the Teenage Mutant Ninja Turtles. Generation X also grew up alongside our brands like MTV and Nickelodeon, and we know our iconic characters have the power to connect with audiences of all ages, while fulfilling this generation’s craving for the familiar faces and stories they know and love.”

See the full Finding the Gen X Factor report here: https://wavemakerglobal.com/genx-report

Source: Wavemaker

  Consumer Research, Gen X, social advertising, Social Media, Wavemaker