Marketers have been focusing on Millennials for a very long time now, but as Millennials are now adults, there is a new generation knocking on our door.
The big majority are still studying, they do not even have purchasing power, but Generation Z is formed by individuals who have massive weight in the purchase decisions of their households. The items they appreciate the most and where they use their influence to get it their way are movies, video games, technology brands and food.
Born between 1994 and 2010, they represent 25,9% of the world’s population. This generation has a huge sense of social responsibility and really wants the world to be a better place. In fact, researches show that 74% of the people that form this generation think that businesses are responsible for making the world a better place and 59% say they would buy new products or services that helped towards this.
We must bear in mind when approaching this generation that they have grown up through times of global crisis, conflicts and with very easy access to information, so their concern towards social and environmental issues is natural to them.
Generation Z and technology
Total digital natives, technology has no secret for them as they are growing up at the peak of technological advancement and innovation. The members of Generation Z are connected nearly every hour of the day making the online community the place to hang out, share ideas, hobbies and any kind of information. Currently 74% have mobile devices and connected, as we said, most of the day, they fill all their social networks sharing photos, whatsapping, updating their status, sharing content… They text in bed, they text in the bathroom, they text while walking, even when at school! which means user-generated content everywhere! They never stop producing content in the different social platforms, content that you can use to get to know them and do much better marketing.
Generation Z and education
When it comes to education, we are facing one of the better prepared generation of all times but not in the traditional way. 64% of Generation Z (vs 71% of Millennials) will enrol in college education. Why make the major investment when there are more and more online alternatives available? As we were saying, Generation Z spend most of their time online, so it makes sense that when it comes to education they also tend to study and learn more online. And we are facing the most entrepreneurial generation yet. They are not scared of trying projects, crafting apps or other money-making ventures.
Predictions say that most of them will go straight into internships and part time jobs while continue their education online instead of joining the traditional higher education.
We are observing what can possibly be one of the greatest generations of all times. Generation Z has the values to make a better world, the ease to learn without barriers, the courage to innovate when giving solutions to problems. They are motivated, hardworking and resourceful. All this coupled with their domination of technology will make it certainly interesting to watch them evolve.
To sum up I would like to share with you this infographic that compares the last five different generations and their characteristics in the UK.
This post is also available in: Spanish