Everything Marketers Need to Know About Generation Z
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Generation Z, born after 1995, is becoming a significant force in the consumer market, with an estimated global purchasing power of $44 billion. This report, created by Vision Critical and Maru/VCR&C, highlights key insights about their media consumption habits, financial preferences, and views on various products. Notably, Generation Z values quality, functionality, and social responsibility in products, while also showing skepticism towards advertisements and a preference for traditional accommodations over services like Airbnb.
Everything Marketers Need to Know About Generation Z
- 1. Everything Marketers Need to Know About Generation Z New data on Gen Z attitudes on media consumption, travel, financial services, health care, retail and more By Vision Critical With research by Maru/VCR&C Learn the differences between Millennials and Generation Z (Turn to page 31)
- 2. Generation Z, the cohort born after 1995, is sneaking up fast on the consumer marketplace. While they’re still mostly kids and teens, Generation Z’s eldest members are now 21 years of age and already stepping into the spotlight.
- 3. In the U.S. alone, there are roughly 65 million Gen Zers
- 4. Their direct global purchasing power currently stands at —a number that will quadruple by 2018 $44 billion
- 5. But as Generation Z enters its prime, many companies have yet to prepare for this cohort’s arrival.
- 6. The impact of Millennials on every industry is why Vision Critical, in partnership with the insights consultancy MARU/VCR&C, embarked on a project to speak directly to Generation Z. The resulting report, The Everything Guide to Generation Z, is comprehensive and full of surprises. It will help marketers engage Generation Z now and in the future.
- 7. Here’s a look at the report’s top findings. DOWNLOAD THE FULL REPORT FOR DETAILS
- 9. 88% OF #GENZ ARE OPTIMISTIC ABOUT THEIR FUTURE We asked: Are you optimistic about the following? My own personal future The future of my children The U.S economy The world economy The environment 58%52% 60% 54% 86% 74%88% 78% 64% 54%66% 58% 55% 46%50% 43% 54% 36%46% 32% Gen Z BoomersGen XMillennials Tweet this stat!
- 11. Job automation Internet of things Wearable technology Self-driving cars Artificial intelligence 21%20% 9% 4% 30% 18%36% 5% 28% 12%31% 7% 28% 10%19% 8% 25% 10%19% 8% We asked: Are you very excited about the following? Gen Z BoomersGen XMillennials 36% OF #GENZ ARE EXCITED ABOUT THE INTERNET OF THINGS Tweet this stat!
- 12. They don’t remember a world before Netflix or Spotify
- 13. We asked: What do you subscribe to? Pandora Netflix Spotify Cable TV Amazon Prime Satellite TV 55%44% 35% 14% 68% 35% 38% 17% 71% 26% 24% 2% 62% 58%58% 49% 49% 35%37% 25% 36% 20%27% 32% Gen Z BoomersGen XMillennials 71% OF #GENZ ARE SUBSCRIBED TO NETFLIX; 26% ARE SUBSCRIBED TO SPOTIFY Tweet this stat!
- 15. We asked: What do you think of ads? 42% 35% 77% 65%80%77% 61% 66%77%67% 53%42% 68% 69%75%69% Appreciate when ads are done well Actively tune out ads Seek out ads before buying something Ads are disruptive Gen Z BoomersGen XMillennials 69% OF #GENZ THINK ADS ARE DISRUPTIVE Tweet this stat!
- 17. Price and promotions Nutritional content Ingredient listing Dietary restrictions Fair trade, organic, sustainable Where manufactured We asked: What information do you look for from food labels? 89%73% 87% 82% 80%67% 79% 79% 78%60% 77% 79% 54%39% 55%39% 38% 34% 51% 42% 48%37% 50% 53% Gen Z BoomersGen XMillennials 67% OF #GENZ CONSIDER THE NUTRITIONAL CONTENT OF THEIR FOOD Tweet this stat!
- 19. Cover monthly expenses Save money for a rainy day Pay off loans Retire one day Buy whatever I want (within reason) Own a house We asked: Are you confident you’ll be able to... 57% 85% 72% 82% 84% 87% 57% 64% 93%92% 73% 75%87%84% 85%84% 77%83% 74%79% 85%89% 75% 83% Gen Z BoomersGen XMillennials 89% OF #GENZ ARE CONFIDENT THEY’LL BE ABLE TO OWN A HOUSE SOMEDAY—MORE THAN ANY OTHER GENERATION Tweet this stat!
- 21. We asked: How much do you trust financial services companies and financal institutions? 53% 62% 28% 22% 12% 10% 24%22% 24%13% 47%60% 7% 6%5%5% Not very trusting Very trusting Somewhat trusting Not at all trusting Gen Z BoomersGen XMillennials 60% OF #GENZ ARE ‘SOMEWHAT TRUSTING’ OF FINANCIAL INSTITUTIONS; 13% ARE ‘VERY TRUSTING’ Tweet this stat!
- 22. They look to their #squad for health info
- 23. We asked: When it comes to health and nutrition, where do you get your information? Websites, blogs News on TV (online or offline) Google searches Doctor, Nurse, Pharmacist Family and friends 44% 30%32% 17% 31% 29%25% 37% 58% 50%50% 33% 46%44% 51% 71% 47% 37%66% 32% Gen Z BoomersGen XMillennials 66% OF #GENZ TURN TO FAMILY AND FRIENDS FOR NUTRITION AND HEALTH INFO Tweet this stat!
- 24. They don’t want to buy it unless it looks good...and it’s useful
- 25. We asked: How import- ant is it that products are... Aligned with my beliefs High quality Fashionable designs Classic designs Functional Good looking 66% 68% 93% 99%94%91% 71%70% 90% 97%93%90% 51% 35%65%67% 64% 63%66%62% 90% 82%90%93% Gen Z BoomersGen XMillennials 93% OF #GENZ LOOK FOR PRODUCTS THAT LOOK GOOD; 91% LOOK FOR FUNCTIONAL GOODS Tweet this stat!
- 27. 41%34% 23% 30% 83% 24% 79% 7% 86% 12% 68% -% 52% 37%52% 45% 33% 38%28% 39% 31% 21%27% 16% Motels Camping Hotels Vacation rental With family & friends Airbnb We asked: Where do you prefer to stay? Gen Z BoomersGen XMillennials Gen Z BoomersGen XMillennials 86% OF #GENZ PREFER TO STAY IN HOTELS; ONLY 12% PREFER AIRBNB Tweet this stat!
- 28. They don’t really care about work- life balance
- 29. We asked: When it comes to your ideal job, what matters to you most? 26%32% 20% 30% 54% 25% 52% 37% 65% 19% 49% 38% 47% 36%38% 39% 37% 35%27% 29% 17% 18%23% 12% Salary Work–life balance Having impact Medical benefits Making a difference Job security Gen Z BoomersGen XMillennials WHILE WORK-LIFE BALANCE MATTERS TO 47% OF #MILLENNIALS, ONLY 38% OF #GENZ CARE ABOUT IT Tweet this stat!
- 31. 1980–1995 1995–present Net Generation, Me Generation iGen, Millennials on Steroids, Snapchat Generation Lena Dunham, Kanye, Michael Phelps Katniss Everdeen, Pewdie Pie, Katie Ledecky That they’re entitled and need constant feedback and coddling That they learned to swipe (a screen) before they learned to speak Millennials Generation Zvs. Appeared Nicknames Role models Stereotype they’re sick of hearing TO SEE MORE OF THIS INFOGRAPHIC WITH MORE STATS, GO TO WWW.VISIONCRITICAL.COM/RESOURCES
- 32. Not really—37% purchased something over mobile in the last six months Yes—53% purchased something over mobile in the last six months Yes—63% prefer organic products Somewhat—only 47% prefer organic products Somewhat— 54% prioritize salary Definitely— 65% prioritize salary Moving up the ladder, bringing in the vote, waiting for Boomers to leave them a $30-trillion collective inheritance Ready to conquer the world—provided there’s high-speed connectivity Millennials Generation Zvs. A threat to retailers? A threat to CPG? On the money train Prospects Millennials Generation Zvs. TO SEE MORE OF THIS INFOGRAPHIC WITH MORE STATS, GO TO WWW.VISIONCRITICAL.COM/RESOURCES
- 33. DOWNLOAD E-BOOK Though they’re following in the footsteps of Millennials before them, Generation Z is a distinct and unique cohort with its own set of values, concerns and behaviors.