Globally, Generation Z had over $200 billion in buying power in 2018. Moreover, they’ve influenced an additional $600 billion in spending by their parents.
One of the curious facts about Generation Z is that 60% want a job that will impact the world.
59% of Gen Z members are willing to learn a new professional skill if it will help them earn more money.
Generation Z research shows 35% of adults consider “bullying” and “not getting along with others” as the most significant stressors in their lives. These are followed by “personal debt,” which stresses 33% of GenZers.
The Covid-19 pandemic hit 50% of Gen Zers pretty hard.
Now you know how many Gen Z there are and how much their global buying power is.
The contradictory thing about this generation is that the majority are idealists yet money-driven at the same time.
2. Generation Z characteristics – only 52% of US GenZers are non-Hispanic whites, which makes them the most racially diverse generation.
(Source: Pew Research Center)
Generation Z’s attention span is eight seconds. That’s how long they need to decide if something is worth their time.
Be that as it may, 59% of GenZers continue their education in college. For comparison, 53% of millennials enrolled in one.
Almost a third (30%) of Generation Z members major in science and social sciences. Only about 10% choose “business” as their major.
Gen Z stats show 48% identify as “completely heterosexual.”
Not only is Gen Z the most diverse generation, but it will be the most educated one.
Despite their short attention span, GenZers manage to better their predecessors. At least in terms of education, that is.
Generation Z Consumer Behavior Statistics
3. Inside the mind of GenZers – 45% choose eco-friendly and socially responsible brands.
30% of GenZers believe science and technology can solve the world’s biggest problems. That’s a 6% drop compared to millennials.
80% of Generation Z hope to work with cutting-edge technologies. 91% cite technology as the most important factor when choosing a job.
Smartphones are a natural extension to Generation Z.
That’s understandable, considering they are the first generation that doesn’t know a world without the Web or smartphones1In 1992, IBM created the first touchscreen phone, called “Simon.” It’s also referred to as the world’s first smartphone..
It’s easier for GenZers to adopt new technology since it has defined their lives from birth. The only generation that will be more advanced in tech will be the one that comes after Generation Z2The generation following Gen Z is called Generation Alpha. It’s the millennials’ children who are born in 2011-2012..
5. What GenZers are like in their free time – 77% spend their offline hours doing at least one creative activity – playing an instrument, drawing, or writing.
92% of GenZers own or plan to own a car. Of those who don’t, 72% are willing to go without social media for a year if that could get them behind the wheel.
You already know GenZers aren’t keen on cable TV. Instead, they prefer Netflix.
Still, what you probably didn’t know is they are a creative cohort of young people who like to travel. And there are many gearheads among them.
Those are yet another traits to complete the definition of Generation Z. Now we can compare them to their predecessors.
6. 48% of Gen Zers are stressed out and unhappy.
Women Gen Zers are more stressed, with 53% reporting anxiety and sadness almost all the time, compared to 42% of men.
47% of Gen Z feel this way, compared to 40% among the Millennials.
Geographically, the US, UK, and Filipino Gen Zers are the most anxious.
Denmark and the Netherlands have the least stressed Gen Zers.
The changing economic times, political uncertainty, and a growing list of concerns are behind all this. Unemployment is high, standards of living plummet every year, and the rich-poor gap is widening. The poor work/life balance experienced by Millennials is evident in Gen Z depression statistics.
All these were huge concerns before the pandemic exacerbated them.
Marketing to Generation Z
7. The stats you need to know about marketing to Generation Z – 76.58% of GenZers are willing to share personal data with a brand in exchange for a personalized experience.
57% of GenZers prefer to shop in brick and mortar stores, while 26.7% do so on their mobile.
Almost two-thirds (64%) of Gen Z consumers believe brands should provide a personalized experience. The same goes for 72% of millennials.
The top driver of brand loyalty for 52.89% of GenZers is product quality. Price is the defining factor for 19.56%. For comparison, 60.19% of millennials place the product first, while only 16.39% are concerned about the price.
Gen Z shoppers value excellent customer service – they are 60% more likely than any other generation to hang up the phone if a business doesn’t answer in 45 seconds.
Unsatisfied GenZers are 30% more likely to curse at a business over the phone, compared to the average customer.
GenZers want quality products at a low price, garnished with excellent customer service.
Still, they are more money-conscious than their predecessors. For a GenZer to make a purchase, you have to emphasize on a personalized experience.
8. The loyalty program is the path to a GenZer’s heart. 63.36% of Generation Z shoppers participate in at least one loyalty program.
A loyalty program could persuade 64% of Gen Z (and millennial) consumers to buy from a brand.
61% prefer shopping online via websites instead of apps.
GenZers don’t like ads – 81% skip advertisements, while 51% use ad blockers.
Here’s a brief tutorial on how not to lose potential Gen Z customers.
Step 1 – Use YouTube to promote your products or services. In fact, only 9% of small businesses are active on the platform.
Step 2 – Optimize your website. You can check out some eyebrow-raising web design stats and the effects of color psychology.
Gen Z Voting Statistics
About 77% of Gen Zers disapprove of how President Trump is running the country. The Gen Z statistics could be higher after a string of questionable and downright harmful decisions during the pandemic. Millennials are only slightly more likely to approve of Trump (32%).
The Silent Generation has the highest number of approvals at 57%, Baby Boomers follow closely with 48% and finally Gen Xers at 42%.
16. 61% of Gen Z Voters Will Vote for a Democratic Candidate in the 2020 Election
The three younger generations cast 62.2 million votes, compared to 60.1 million by Boomers and older generations.
Gen Zers all turned 18 in 2014 and accounted for a high turnout, translating to 4.5 million votes, compared to the 3.6 million by Boomers and older generations.
Millennial voters are not all that different from Gen Zers, according to recent Z stats. 58% of millennials are likely to vote for a Democratic candidate. The other generations break down as follows: Silent Generation (53%), Boomers (44%) and Gen X (37%).
Generation Z in the Workplace Statistics
17. 24% of GenZers expect to make more than $60,000 a year in their first job.
80% of millennials consider the nutritional content of their food. That’s 13% more than the number of GenZers who find this information valuable.
To sum up, Generation Z is different from millennials in many fundamental areas.
They believe they’ll work harder but aren’t in a hurry to get a job. Furthermore, GenZers think they’ll easily manage their work-life balance.
And although they don’t care that much about what they eat, they are more likely to post pictures of their food than their predecessors.
20. Gen Z feels unprepared for Industry 4.0.
Only 3 out of 10 Gen Z workers feel that they are skilled enough to succeed in Industry 4.0
They are especially vulnerable and want to improve in softer skills like ethics/integrity, interpersonal relations, and confidence; according to generation z education statistics.
According to stats on gen z relations, 42% of Gen Zers reported that their employers helped them prepare and understand the changes in Industry 4.0
Businesses need to listen to what the millennials and the Gen Z are saying to reimagine how they approach talent management in industry 4.0. Gen Zers are looking for broader guidance that does more than just teach them technical knowledge.
Most of the Gen Z and Millennials demographic feels that businesses have directed too much focus on company agendas without considering the contributions to society. Gen Z statistics indicate that companies should focus on issues like inclusion, diversity, and flexibility.
To earn the Gen Z workforce and market trust and loyalty, businesses will have to re-evaluate the traditional approaches. This is also true when it comes to marketing to generation z.
21. 61% of Millennials are positive about the coming age of Gen Zers.
The number increases when talking to millennials in senior positions (67%).
Millennials in emerging markets go even higher, with 70% feeling quite positive.
The lowest percentage of millennials who do not think too highly of Gen Z are in mature markets at 52%.
Even though millennials see a lot of potential, Gen Z statistics indicate that they also believe that generation Z will need a lot of support to enter the workforce.
Gez Z Trends
What does the entertainment look like in the eyes of the generation Z?
22. 52% of Gen Z expect to use VR for entertainment.
VR may not be widespread now, but it is becoming more accessible each day. Gen Z statistics show that they will be using it in entertainment activities that include watching videos or gaming in the coming gen z years.
About 60% of Gen Z confirm that they are likely to use VR when it becomes available everywhere in the years to come.
55% of Gen Z say that they’d like to choose their own adventures in interactive streamed content like TV shows and movies.
Generation Z and technology are tightly intertwined, enough to cause drastic changes in how entertainment is served.
Generation Z is the most diverse generation in history.
They are creative, fashionable, technology-influenced young people.
On top of that, they are an optimistic, eco-friendly cohort that cares about the planet.
On the other hand, GenZers are impatient, money-driven, and too dependent on technology.
This is a double-edged sword, since not every job offers cutting-edge tech.
All in all, Gen Z statistics show this generation is an exciting breed of young people.
Hopefully, they’ll change the world into a better place.