Getting To Know Gen Z
With Millennials having become an established part of the business and marketing world, and more of a known entity, attention is turning to their successors, Generation Z, as the oldest of that cohort to enter the job market. A study of 79,000 internet users between the ages of 16 and 22 in 45 markets by GlobalWebInde and Snap, Inc., the company behind the Snapchat app, uncovered new details about the group’s behavior and who they are as consumers.
Born into a high-tech world, the internet has always been part of Generation Z’s lives, and the smartphone is central to how these digital natives live. Globally, 97 percent of Generation Z has a smartphone, and 78 percent of them say they’re the most important device with which to get online, more than any other generation. On average, they spend four hours and 15 minutes on their mobile devices, more than any other generation. They also watch an hour and a half of network TV each day, about 30 minutes below the global average.
Generation Z shares its more entrepreneurial spirit with Millennials—29 percent vs. 31 percent, respectively, say they are interested in entrepreneurship, compared to 23 percent of Generation X and 13 percent of Baby Boomers. Likewise, 74 percent of Generation Z says they want to always achieve more in life (similar to 73 percent of Millennials), and 72 percent of both groups say they like to challenge themselves and be the best they can be. Additionally, 65 percent of Generation Z and Millennials consider themselves very career-oriented.
Considering their youth, it’s not surprising that most of Generation Z live with their parents (63 percent) and approximately 60 percent are students, but their wealth and buying power is growing. More than half have some savings, and 37 percent are working, either full- or part-time, or are self-employed.
For more information on Generation Z and their value to marketers, click here.