While many marketers still struggle to figure out the Millennials, a new generation—Generation Z—is growing up behind the scenes.
Members of Gen Z, born after 1995, are quite different than their Millennial counterparts, with their own set of expectations when interacting with companies. They are the first truly mobile-first generation, so they place a big emphasis on personalization and relevance.
In addition, Gen Zers are entrepreneurial and resourceful, courtesy of growing up during a recession. Marketers will need to take all of this into account when shaping their strategies for this group. Read on for more facts and figures.
1. Consumers 19 and younger prefer social networks like Snapchat, Secret, and Whisper, and a quarter of 13- to 17-year-olds have left Facebook this year.
2. By 2020 Generation Z will account for 40% of all consumers.
3. Gen Z are adept researchers. They know how to self-educate and find information. Thirty-three percent watch lessons online, 20% read textbooks on tablets, and 32% work with classmates online.
4. More than a quarter of America's population currently belongs to Gen Z, and with each birth (361,00 babies born in the U.S. every day) the segment is growing.
5. Gen Z recieves $16.90 per week in allowance, which translates to $44 billion a year.
6. Whereas Millennials use three screens on average, Gen Zers use five: a smartphone, TV, laptop, desktop, and iPod/iPad.
7. The average Gen Zer has the attention span of about eight seconds. They have grown up at a time when they're being served media and messaging from all angles, and have adapted to quickly sorting through and assessing enormous amounts of information.
8. Gen Z shares the entrepreneurial spirit of Millennial innovators: About 72% of current high-schoolers want to own their own businesses, and 76% hope they can turn their hobbies into full-time jobs.
9. Gen Zers are do-gooders; they want to make a differnce in the world. Sixty percent want their jobs to impact the world, 26% of 16- to 19-year-olds currently volunteer, and 76% are concerned about humanity's impact on the planet.
10. Fifty-eight percent of Gen Zs are either somewhat or very worried about the future.
11. Gen Zers influence $600 billion of family spending.
12. Seventy-nine percent of Generation Z consumers display symptoms of emotional distress when kept away from their personal electronic devices.
13. Fifty-five percent of those 18 years of age and younger would rather buy clothes online, and 53% would rather buy books and electronics online.
14. Forty-two percent of Gen Zers follow their parents influence, compared to just 36% of Millennials.
15. Generation Z consumers spend 7.6 hours per day on average socializing with friends and family.
Here is what the Twitterverse is saying about Generation Z