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Currently, Gen X comprises 20.6% of the US population, making them smaller than any other age demographic. Insider Intelligence has been tracking Gen Z’s characteristics, traits, values, and trends to develop in-depth statistics, facts, and marketing strategies targeting what will soon become the largest cohort of consumers. As Gen Z further emerges their influence and impact on employers, spending, voting, and more will be amplified, so it’s never been more important to seek to understand and engage them now vs playing a challenging, expensive game of catch up later. Gen Z presents the once-in-a-generation opportunity to grow with and lock the huge potential of a new generation as they are poised to shape our shared future.
- The general vibe is that nothing else will matter if the entire world is on fire and collapsing into the ocean.
- According to Investopedia, more than half of Gen Z adults (18-25) are already invested—with 26% of that group invested in the stock market and cryptocurrency.
- Witness, for example, the students of Marjory Stoneman Douglas High School in Parkland, Fla., who organized a political movement around gun control in the wake of a mass shooting at their school.
- And millennials and Gen Z are very focused on how to make the workplace better for everyone, regardless of age.
- Despite this tipping point toward workplace flexibility among the younger members of the workforce, only one-third of respondents’ companies offer it (34 percent).
- All in all, Gen Z statistics show this generation is an exciting breed of young people.
For Gen Zers living in the United States and Britain (the two places we studied), the “norm” they experienced as children was a world that operated at speed, scale and scope. They developed an early facility with powerful digital tools that allowed them to be self-reliant as well as collaborative. Similarly, because they could learn about people and cultures around the globe from an early age, they developed a greater appreciation for diversity and the importance of finding their own unique identities.
Research in 2018 showed that the oldest members of Gen Z were delaying or perhaps even foregoing marriage, only 4 percent getting married between the ages of 18 and 21—nearly half as many as in the millennial generation, of which 7 percent got married at a young age. Aside from the unique set of circumstances in which Gen Z is approaching adulthood, what do we know about this new generation? We know it’s different from previous generations in some important ways, but similar in many ways to the Millennial generation that came before it. Members of Gen Z are more racially and ethnically diverse than any previous generation, and they are on track to be the most well-educated generation yet. They are also digital natives who have little or no memory of the world as it existed before smartphones. However, this year our research revealed a rapid shift where racial equality and social justice jumped to the top spot.
Fully 43% of Republican Gen Zers say this, compared with 30% of Millennial Republicans and roughly two-in-ten Gen X, Boomer and Silent Generation Republicans. Views are much more consistent across generations among Democrats and Democratic leaners. The takeaway here is that generational shifts are just as important as economic changes when it comes to business. Remember, generations are molded by the environment in which they emerged, and in turn, the lifestyles they develop shape the world we live in. By understanding the mentality and behavior of this incoming breed of consumers, companies may adapt to their unique wants and needs. Gen Zers spend hours on the platform every day, citing that it is great for destressing and learning new skills.
For the past several years, the world has been focused on understanding and adapting to Millennials, the largest and most-educated generation in history. Born between 1981 and the mid-1990s, this group has inspired important dialogues about generational differences and challenged all industries to evolve to meet their needs. In the workplace, Millennials have helped drive a greater focus on flexibility and collaboration and a rethinking of traditional hierarchies. What I hope to achieve as a 16-year-old in 2018 is probably not all that different from what anyone else wanted when they were my age. It’s the way people go about reaching their goals that evolves over time—and that’s what also forms the basis of most generational clashes.
The research suggests the world over generally espouse views on equality and progress to overcome social discord. Making a wider contribution to society (beyond looking after oneself and one’s family and friends) is considered https://www.xcritical.in/ important to a majority of young people at a global level, with 67% saying it is important to them. Contributing to wider society is considered most important to young people living in South American countries.
When it came to what made them anxious, the pressure of earning money, and doing well in school topped the list. When it came to India, 46 per cent said money made them anxious, while 32 per cent said they faced the pressure of doing well academically. However, coming third on the list was violence in the country, which was on par with family-related issues. India, along with China and Indonesia said that access to basic resources such as food and clean water also made them anxious.
The next generation
Facebook is less popular with teens – 51% say they use this social media site. Some 45% of teens say they are online “almost constantly,” and an additional 44% say they’re online several times a day. Similarly, the youngest Republicans stand out in their views on the role of government and the causes of climate change. Gen Z Republicans are much more likely than older generations of Republicans to desire an increased government role in solving problems.
We are able to keep our service free of charge thanks to cooperation with some of the vendors, who are willing to pay us for traffic and sales opportunities provided by our website. Jenny Chang is a senior writer specializing in SaaS and B2B software solutions. Her decision to focus on these two industries was spurred by their explosive growth in the last decade, much of it she attributes to the emergence of disruptive technologies and the quick adoption by businesses that were quick to recognize their values to their organizations. She has covered all the major developments in SaaS and B2B software solutions, from the introduction of massive ERPs to small business platforms to help startups on their way to success. If you are interested in reading more about important tech data for 2019, be sure to check out our compilation of technology statistics.
Ethical considerations include human rights, the climate and environment, and an inclusive culture. Many Gen Zers throughout Asia see the internet as the first place to go when researching new products to purchase; in the United States, 40 percent of Gen Zers admit to being influenced online, often by the brands featured in the videos they watch. Members filter https://www.xcritical.in/blog/best-crypto-trading-platform-xcritical-which-attracts-gen-z/ a lot of information, from influencers, family, and friends, to decide where and how they want to spend. Younger generations also share a different view of the U.S. relative to other countries in the world. Gen Zers (14%) and Millennials (13%) are less likely than Gen Xers (20%), Boomers (30%) or Silents (45%) to say the U.S. is better than all other countries.
Indians, too, feel that quality education across the board will be the single biggest factor that would make the greatest difference in uniting people. Factors that contributed to happiness included being healthy both physically and mentally, having a good relationship with family, as well as friends, fulfilled in study and work, enjoying social life, having enough money to lead a comfortable life, and faith in a religion. McKinsey reports that close to a billion people have a mental-health or substance-use disorder.
They can provide a way to understand how different formative experiences (such as world events and technological, economic and social shifts) interact with the life-cycle and aging process to shape people’s views of the world. And as a generation committed to its values, Gen Z expects the same of its retailers—Gen Zers often choose brands that have a strong story or purpose, as well as those committed to green practices. In one McKinsey study, 73 percent of Gen Z reported trying to purchase from companies they consider ethical, and nine out of ten believe that companies have a responsibility to address environmental and social issues. However, they can tell when a brand is just paying lip service and isn’t backing up diversity or sustainability claims with real change. Some researchers have suggested that the growing amount of time teens are spending on their mobile devices, and specifically on social media, is contributing to the growth in anxiety and depression among this group. Teens have mixed views on whether social media has had a positive or negative effect on their generation.
Below are seven of the Gen Z trends we’re watching closely as they emerge further into adulthood. These trends are going to have a big impact as Gen Z grows more influential every day—from their spending power, ability to vote, and percentage of the workforce to shaping news narratives on social media. Despite the images of partying college kids and reckless spring breakers, Gen Z has overall been careful about COVID-19.