Gen Z, led by today’s teens and tweens, is coming of age today, and they are not just another Millennials story. More aware, self-reliant, pragmatic and driven, they are savvy and demanding customers with tastes and preferences unlike those of any other generation.
Gen Z is already spending, and having a big impact on household purchasing decisions, according to EY’s report Rise of Gen Z: new challenges for retailers. But they’re spending power is growing rapidly: in four years, they will make up roughly 25% of the workforce around the world.
Businesses hoping to connect with these consumers need to learn who they are and what makes them tick.
Millennials adapted to the rise of social media and mobile, but Gen Z was born into it. They are the first to grow up with easy access to a world of information and instant social connection.
Raised in tough economic times, Gen Z has only known a post-9/11 world and a school life that includes routine lockdown drills. It’s no surprise these young people are much more industrious and pragmatic than their predecessors.
Gen Z has a taste for realism, too, and they like to follow real people online rather than celebrities offline.