11 Fascinating Facts About Gen Z
This fact, as well as their relative inexperience in life, becomes evident in the importance they place on social media presence. 42% also feel that social media affects how other people see them, which is remarkably high compared to older generations. The majority are spending their free time online and 66% report using more than one device connected to the internet at a time.
Roughly two-thirds of Gen Zers and Millennials say this, compared with about half of Gen Xers and Boomers and smaller shares among the Silent Generation. Generation Z represents the leading edge of the country’s changing racial and ethnic makeup. A bare majority (52%) are non-Hispanic white – significantly smaller than the share of Millennials who were non-Hispanic white in 2002 (61%). One-in-four Gen Zers are Hispanic, 14% are black, 6% are Asian and 5% are some other race or two or more races.
Without that dialogue, we’ll have a wasteful tug of war between the past and the future. The goal is for older and younger generations to work together, with openness and trust, to ensure that the wisdom – but not what has become the excess baggage – of the past is not lost to the future. Alarmingly, many consumers don’t know what the APR is on their primary https://www.xcritical.in/ credit card. Among people who carry a balance from month to month, 43% don’t know what rate they’re paying on that debt, a Bankrate survey this year found. The younger a credit-card user is, the less likely they are to know their card’s rate, Bankrate found, with 50% of Gen Z members in the dark about their card’s rate, compared with 39% of baby boomers.
Members of this age group mostly use their devices to communicate with friends and family and for entertainment. According to the APA, Gen Zs are significantly more likely than previous generations to seek help for mental health conditions, such as depression and anxiety. It could therefore be assumed that perhaps Gen Z deal with less stigma related issues around mental health compared to previous generations. 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.
And it is more important than ever for HR professionals to become familiar with the following 10 characteristics so that they know how to engage with my generation. That said, some Gen Zs do still deal with stigma related to both mental health and their communities. This list of Facebook statistics has all the data you need to craft a smart strategy and build reports, presentations, and more. These Instagram statistics prove just how valuable the network is to your business. Marketers, assume your Gen Z audience will be at least partially distracted when interacting with your content.
- In our new State of Gen Z 2020 study, we found 40% of Gen Z is actively reconsidering their college plan.
- It also means Gen Z is judging your digital first impression before they ever consider buying from you.
- In terms of US population by generation, Gen Z is the most ethnically diverse and largest generation in American history, and eclipses all other generations before it in embracing diversity and inclusion.
- And among young adults ages 18 to 22, while 62% of Gen Zers were employed in 2018, higher shares of Millennials (71%) and Gen Xers (79%) were working when they were a comparable age.
- Organizations that emphasize Generation Z’s desire for entrepreneurship and allow us space to contribute ideas will see higher engagement because we’ll feel a sense of personal ownership.
These moments of connection are so important,” Bianca Padilla, CEO and cofounder of Carewell, told Fortune in an email interview. As loneliness plagues seniors and young adults alike, fostering familial relationships between generations could help protect against the negative effects of isolation, including depression, heart disease, and dementia. With all the to-dos—homework, job responsibilities, hanging with friends—it seems that calling your grandparents falls to the bottom of the list—at least if you’re a member of Gen Z. Elle van der Burg is a model and an outspoken activist for transgender people. She wants the world to understand that transgender and sexuality are not the same thing.
As a generation that spends their money wisely, they have demands that are difficult but not impossible to meet. That said, they prefer consuming content in the fastest way possible—through visuals. Hence, they are more appealing than traditional content like blogs and articles. Gen Zers are perhaps one of the most challenging individuals to create marketing campaigns for.
Just because Millennials and members of Generation Z are closer in age does not necessarily mean they share the same belief systems. A great example is the online grading portals where we can get frequent updates on our academic performance. In the past, students sometimes had to wait weeks or longer to receive a test grade. Now, we get frustrated if we can’t access our scores within hours of finishing an exam—and sometimes our parents do, too. We discovered key characteristics about Generation Z and what the arrival of my generation will mean for the future of work. At 57 million strong and representing the most diverse generation in U.S. history, we are just starting to graduate from college and will account for 36 percent of the workforce by 2020.
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. 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. However, this generation sets itself apart from its predecessors as they don’t use social media for socialization.
Companies seeking to be an employer of choice must leverage the collaborative revolution taking place and provide the technology, tools and processes that facilitate and encourage it,” Link says. The Comparably research shows that Gen Z workers in senior developer roles are paid an average of $115,000 annually; nothing to sneeze at. That could explain why, when asked what their first priority would be if they were promoted to a high-level leadership role, 27 percent of Gen Z respondents said they would increase employee pay. They were the only age group to choose this as their No. 1 priority; all other millennials and older generations alike were more interested in bettering the team’s vision/strategy, according to the research.
While Millennials came of age during an economic boom, Gen Zers were shaped by the economic pressures their families and communities faced, like the financial stress of the rental market. Thus, they value the stability that comes with conservative spending, stable jobs and smart investments. Researchers and popular media loosely use the mid-to-late 1990s as starting birth years and the early 2010s as ending birth years for defining Generation Z. Americans spend less time with friends and more time alone as they grow older. When it comes to race relations, Gen Zers and Millennials are about equally likely to say that blacks are treated less fairly than whites in this country.
Consequently, companies will have to try harder to grab the attention of this new breed of consumers. Instead, you will need to focus on appealing to their unique interests and providing them with products that will add value to their lives. 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.
Instead, they utilize it for entertainment, to find new brands, and learn more about the companies they are interested in. And if you use social media monitoring, you can find out how they interact with your business’s social profiles. While the gen z meaning 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.