With their diverse ideals and different lifestyles, the Millennials present new challenges and opportunities for all industries. Considering what they bring, it is best to consult Generation Z statistics to meet their shifting demands and expectations. But before we do, let’s define what Generation Z is.
Pew Research Center defines Generation Z as individuals born between 1996 and 2010. Also known as the iGeneration (iGen) or the Net Gen, these individuals are the first true digital natives. They grew up during the height of the age of information and rode the social media culture in full swing.
Being the newest—and largest—entrants to the consumer market and the workforce of today, it is important that you understand how their minds work. To help you out, we have detailed everything from their academic mindset and workplace expectations to their spending power and shopping habits. With this, it is easier to come up with more effective business strategies geared towards their preferences.
Gen Zers make up a good chunk of the world population and, in a few years, they are expected to dominate the consumer market. Suffice it to say, their lifestyles will reshape the way modern businesses work, set the trends in retail, and provoke major changes in the workplace.
Pragmatic, technologically savvy, and socially conscious, Gen Z adults exhibit different behaviors compared to their preceding generations. These greatly affect their purchasing decisions and overall approach to companies.
With that said, it is critical for businesses to understand these factors in order to effectively engage them today and in the future.
Generational shifts take place every few decades. So, what makes this cohort different from others?
Poised to make up the majority of the global population, Gen Zers have the strongest purchasing power today. Furthermore, Generation Z market size reports reveal that they are perhaps the only generation that managed to influence their family spending to a great extent. This only means that by capturing their attention, you also tap their siblings and their parents in the process.
In addition to their influence and purchasing power, another thing that sets Gen Zers apart is their behavior towards money. They identify themselves mostly as savers than spenders, allowing them to secure bright financial futures. Experts have observed that the iGen start their savings accounts at an early age and put their money towards investments rather than impulse purchases.
Consequently, companies will have to try harder to grab the attention of this new breed of consumers. Flashy products and star-studded advertisements may no longer work. Instead, you will need to focus on appealing to their unique interests and providing them with products that will add value to their lives.
Gen Zers are entering the workforce bright-eyed and bushy-tailed. This is a generation that’s hungry to learn the ins and outs of their chosen career, despite finding work to be one of the biggest sources of stress in their lives.
However, before employers can train the iGen to their full potential, it seems that they will have to be patient in acclimating to their methods. A majority of this cohort don’t favor traditional training methods. They believe that college education and formal work training are not the best ways to learn the skills needed to survive in the corporate world.
So, as employers, you might want to consider thinking out of the box when onboarding Gen Z employees.
Much like their predecessors, Gen Z employees want to have careers that pay well, provide good benefits, and hone their skills for the future. The only difference is today, they focus more on finding stable jobs that make them feel fulfilled—not just ones that will help them pay the bills. Moreover, as tech natives, they expect their employers to view technological innovation as a priority in the workplace.
That said, employers will have to pay more attention to career development plans if they want to attract and retain Gen Z employees.
While the common route for previous generations was graduating from school and getting a stable job, a good fraction of the iGeneration have other plans in mind. They go against the current, wanting not to be followers but leaders of their own companies.
Being raised amidst the great recession and the student loan crisis, Gen Zers prefer pursuing lucrative careers that would not put them in debt. That said, it seems they believe that entrepreneurship is the best way to go.
Empowering Work Culture%
Personal Relationships with Co-Workers%
High Salary and Raises%
Source: Medium CorporationDesigned by
Millennials had a bad reputation for being on social media all the time. Gen Zers are not far behind as they, too, spend a lot of time browsing through various social networking sites.
However, this generation sets itself apart from predecessors as they don’t use social media for socialization. Instead, they utilize it for entertainment, to find new brands, and learn more about the companies they are interested in.
Majority of Gen Zers may use social media for communication as well as business transactions. However, it is important to note that not all social media platforms are created equal.
Statistics show that unlike their Millennial and Gen X counterparts, the iGen are using Facebook and Twitter less and less. If you want to effectively engage this cohort on social media, Youtube is the way to go.
Gen Zers spend hours on the platform every day, citing that it is great for destressing and learning new skills. As a result, YouTube has become a prime space for advertisements and branded content—something worth considering for your marketing strategies. You can even utilize social media management tools to optimize your interactions with Gen Zers online.
Sources: Pew Research CenterDesigned by
Gen Zers are perhaps one of the most challenging individuals to create marketing campaigns for. They grew up at a time when it was normal to be online 24/7 on multiple platforms. Moreover, they face a deluge of information every day just by browsing through social networks and different websites. This allows them to process information faster than their predecessors. However, as a result, they also have shorter attention spans.
Digital marketers will have to up their game if they want to catch the attention of this generation and reap the benefits of their influence. For instance, now might be the time to invest in SaaS to optimize marketing strategies. After all, there’s an extensive selection of marketing automation tools available on the market.
Gen Zers are natural multitaskers and they like efficiency. That said, they prefer consuming content in the fastest way possible—through visuals. Be it YouTube videos, Instagram posts, gifs, or ads with image, these content are easier to digest for this generation. Hence, they are more appealing than traditional content like blogs and articles.
However, simply fine-tuning your brand’s aesthetic and learning to produce content that they like are not enough to capture this audience.
Another thing to know when targeting millennials is that they don’t want to simply purchase from your brand—they want to be part of what you stand for. This is why the authenticity of your company plays a big role in their purchasing decisions.
In addition to these data, you might want to take a look at this list of visual content marketing statistics to see how you can maximize your advertisements and marketing content.
Personalized experiences proved important in attracting and converting Gen X and Millennial leads. The same holds true for the iGen consumers.
By creating targeted campaigns for specific target demographics, you can appeal to their unique interests. It also lets them know that you genuinely care about their wants and needs. Thus, yielding better sales later on. The only problem is it’s difficult to do it manually.
With this said, you might want to start leveraging AI and CRM systems to provide them with better experiences. Just be sure to handle your customers’ personal data with care and let them know how you are protecting their information. This way, they can be more at ease when transacting with your company.
No consumer wants to hear companies toot their own horn. This is why word-of-mouth marketing is a tried and tested strategy that works wonders even for Gen Zers. In fact, the factors that drive their purchasing decisions rely heavily on the recommendations of friends, social media influencers, and content creators.
With this said, you might want to consider investing in content marketing and influencer marketing if you aim to cater to this generation. After all, what better way to get your brand out there than to let people talk about your products, right?
Thinking of resorting to old-school advertisements for Gen Z marketing? You might want to think again.
Most people from the iGeneration have a negative relationship with ads. They find them annoying and interruptive. So much so that some even resort to using ad blockers on their devices or even pay service providers just to remove ads from the apps they’re using.
If you truly want this demographic to notice your brand, the best way to do it would be through quality content that really speaks to them. Try telling them more about your company’s mission and give them an idea of what makes your brand different. This way, you can forge more authentic connections with this generation.
Quality, aesthetics, convenience, speed—these are only a handful of what Gen Z consumers expect from the companies they do business with. As a generation that spends their money wisely, they have demands that are difficult but not impossible to meet.
The tech natives that they are, Gen Zers are used to having all the information in the world at their fingertips. Similarly, they have become accustomed to procuring things that they want almost instantly. That said, even though the majority of iGen consumers still shop in physical stores, a significant fraction of them are now turning to online shopping for certain types of products.
If you want to take advantage of this growing shopping trend, you might want to start investing in eCommerce solutions, shopping cart tools, and online marketplaces. To help you get started, you can take a look at this list of leading eCommerce platforms.
Alignment With Their Beliefs
Timelessness of Design
Source: The 2019 Everything Guide to Gen Z StudyDesigned by
The iGeneration was exposed to technology throughout their formative years. So, not only are they tech-savvy like Millennials, but they also have a tech-first mentality that allows them to innovate in various aspects of their life. One proof of this is their extensive use of the internet not only for entertainment and socialization but also for picking up new skills.
In addition to spending a lot of time on the world wide web, another technology use trend among Gen Zers is their need to stay connected anytime, anywhere through their smartphone.
Nowadays, mobile devices are no longer limited to texting and calling. The iGen utilizes these gadgets as if they were mini computers. All they need is an internet connection and they can practically do everything from work to shopping straight from their phone.
If you are interested in reading more about important tech data for 2019, be sure to check out our compilation of technology statistics. This should give you all the latest information on technology use and challenges for the coming years.
Gen Zers are now on the cusp of adulthood. They are entering the workforce, approaching financial freedom, and contributing more and more to the economy. Moreover, they are joining the consumer market with their unique views on shopping and brand engagement in tow. With that said, they have the capability to reshape the modern business landscape in the coming years.
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.
Hopefully, with this compilation of Generation Z statistics, you were able to get an idea of how to connect with this group of individuals. This data can prove helpful in understanding the different spending patterns and shopping behaviors of this cohort as we move through 2019 and beyond.
In case you are looking for more ways to attract this group of consumers, you might want to check out our guide to lead generation best practices. With this, you can get an in-depth explanation of the different strategies you can use to attract customers and boost conversions.
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