Does your brand or service target Gen Z?
Do you even know who Gen Z are?!!
Generation Z, colloquially also known as zoomers, is the demographic cohort succeeding Millennials and preceding Generation Alpha. Still confused? Researchers and popular media use the mid to late 1990s as starting birth years and the 2010s as ending birth years. Most members of Generation Z are children of Generation X.
With the oldest Gen Z now approaching their mid 20s they’re becoming acquainted with employment, home ownership, marriage, and even parenthood. This opens up new opportunities for brands whose products and services are being discovered by this generation for the first time – automotive and finance being just two examples. It’s worth remembering, however, that Gen Z still has a way to go before their spending power reaches the same level as their older counterparts. The number of global Gen Z who classify as low-earners hasn’t budged much since 2019 and isn’t likely to shift dramatically until the majority enter full-time employment. That being said, the story in Europe and North America is more positive – the percentage of low-earning Gen Z having fallen 5% and 24%, respectively, since 2019. This is a generation with a lot on their plate; many are still reeling from the impact of Covid-19, while climate change is certain to weigh heavily on their lifestyle choices for years to come. Gen Z have arrived at a time of unprecedented change, forcing brands to ditch outdated perceptions that Gen Z are anything like millennials, and adapt to new strategies that enable them to successfully engage with this generation.
Find out what they love, hate, and worry about, with brand new, off the wall stats like:
- Climate change is their number one long-term concern
- Online TV is now the preferred way to watch content
- They’re less likely to drink alcohol every month than any other generation
- Only 1 in 3 are comfortable talking about their mental health
- 14% have invested in stocks and shares
- Gaming is just as big as you think it is