Compass Greater NY, LLC
Ann Marie Damashek, GRI, CBR, SRES, Compass Greater NY, LLCPhone: (917) 623-0624
Email: [email protected]

Generation Z: Today’s Purchasing Power House

by Ann Marie Damashek, GRI, CBR, SRES 10/20/2019

The Internet has changed the way you shop, but it has also changed the way retailers market their goods. No longer do families travel downtown on a Saturday afternoon to do their summer or back-to-school shopping. Nor is the mall the ultimate location to find all the current fashion and hang out at the food court. What was trending last week is now so-last-week. To understand the shift in the retail markets you need to know how people are shopping today and who is doing the purchasing. 

Generation Z is too big to ignore

The buying powerhouse in the United States has now shifted from what was the largest consumer base, the baby boomers, to Generation Z. Their buying dollar estimates are in the billions, and they are an educated group with definiteness of purpose. They possess a comfort level with technology that no generation before has. Since birth, they have had access to an ever-changing landscape of innovation and groundbreaking advancements in almost every segment of their lives. This ever-evolving environment has them expecting change and developing and adapting skills to navigate their lives. When you want to get their attention, you will need to think less about branding your product and more about this generation as individuals.

Tied to technology but living in reality

This generation Z lives both online and offline and sorts through massive amounts of information continually. They are making choices on how to spend their time, who to spend time with and what to purchase, all at lightning speeds. So, you may wonder, how does a retailer get information to them about a product or service? They need to be on point. Generation Z appreciates the bottom line about what your product does, and they will decide if they are interested. Trying to convince them or, if they think you are working too hard to sell them; that is a turn-off. Besides, generally, they want to support companies with quality products that also promote a cause or give back in some way. They are globally-minded and take up for humanitarian and other causes with passion and commitment.

Word-of-mouth or Instagram? 

Social media and its many platforms have created a massive impact on how Generation Z spends its money and how they pass the word along about products and companies. The trending influencers can cause ripples across a market within hours. The marketing world has changed are you prepared to serve this new powerhouse of consumers?

This week try to see how often you use your mobile devices to be a consumer. If you're in the housing market, seek out a real estate professional with a mobile presence to promote to young buyers.

About the Author
Author

Ann Marie Damashek, GRI, CBR, SRES

Ann Marie Damashek has always been a natural at helping people prepare their homes for sale. She started out with a successful business selling goods for people on eBay. "Nine times out of ten they were hiring me because they were down-sizing,” Ann Marie says. "So I decided to get my license. I said, ‘Might as well sell their house too.’” The transition was a smooth one and for nine years she’s had a thriving full-time real estate business that allows her to marry her entrepreneurial spirit with her passion for helping others. With an office in Larchmont, New York, she serves all of Lower Westchester County, with her primary market in the Sound Shore region. The majority of her business is "sphere of influence” with former clients referring her to friends and family. A gifted communicator, Ann Marie quickly builds trust and rapport with her clients by being both thoughtful and responsive; she understands that during the purchase or sale of a home, a quick response time is crucial. "I am very accessible,” Ann Marie says. "I always make time for my clients. They can call me, text me, email me up until 10 o’clock at night and I will respond. I’m available on weekends. I get back to people very promptly. I’m very customer service-oriented.” Her clients appreciate her professionalism, passion and enthusiasm and as a result her repeat and referral rate continues to grow each year. While selling real estate is serious business, Ann Marie knows that at times humor and a moment of levity can be a relief to clients. While she has a laidback and easygoing personality, she can be assertive when needed on her clients’ behalf. She loves being of service to them, and the continually changing nature of the work keeps her engaged and fulfilled. "It’s never boring,” Ann Marie enthuses. "Every day is different. That’s probably what I like most about it. But I also enjoy helping people sell or buy and educating them about the process. I love helping them achieve their goals.” This ethic of service has resulted in well-deserved recognition. Ann Marie has received the Westchester Magazine Five Star Real Estate Agent Rating four years running, in 2015 and 2016 she was the #1 agent in her office, and she’s a Zillow 5-Star Premier Agent. To keep in touch with former clients, Ann Marie sends cards to mark special occasions or reaches out via email. To market her listings, Ann Marie uses Multiple Listing Services (MLS), as well as Listingbook.com, a service that allows both agents and their clients access to MLS data. She also uses a Facebook business page and ads to boost new listings or promote upcoming open houses. "That drives a tremendous amount of traffic,” Ann Marie says. She also uses the most popular real estate websites such as Zillow and Trulia. A strong believer in giving back, Ann Marie sits on the Board of Trustees of her church and is involved in a variety of social justice projects. She’s affiliated with Furniture Sharehouse, a furniture bank for Westchester County, which collects and distributes gently used furniture free of charge to those in need. "I love it on so many levels because as a realtor, it’s helps my sellers downsize through charitable donations. I like the environmental aspect of it as well. And it helps people who truly need things.” She’s also involved in Impact 100, a women’s philanthropic giving organization. In her free time, Ann Marie enjoys gardening, traveling, and spending time with family and friends. For the future, Ann Marie wants to continue expanding her business and developing her brand, and she someday hopes to grow a strong team. But her main goal is to stay in the real estate business, helping her clients to achieve their dreams.