Website ownership has increased by more than 300% over the past two years, and more than half of younger generations plan to launch businesses online, new research has found.
Launched today, WP Engine’s Generation Resilience Report 2021 has revealed how the pandemic has shifted Australians’ attitudes towards digital consumption and entrepreneurship.
Notably, the report found that COVID-19 has inspired a new generation of entrepreneurs, with a quarter of young Australians in Gen Z and Gen Y already owning their own websites.
What’s more, half of Gen Z and Millennials plan to launch their own business online.
Gen Z, which includes Australians aged between 14 and 25, are most interested in retail, entertainment, beauty and wellness. Whereas Millennials, those aged between 26 to 44, are more passionate about technology.
The report draws on survey data of 1000 Australians aged 14 to 59 and aims to evaluate how people have adapted to digital during the last year, including through the COVID-19 pandemic.
Shockingly, the report found that on average Australians can only go four hours without internet access before becoming uncomfortable.
“Millennials are the most internet-obsessed, with 27% saying they cannot go more than an hour without internet before becoming uncomfortable,” the report states.
The report also highlights how the pandemic has changed shopping behaviour, with 47% of Australians believing that all shopping will take place online in 10 years.
Asked whether they would continue their digital habits after the pandemic, Boomers aged between 57 and 59 were most likely to say no compared to Gen Z and Millennials. In fact, 61% of Gen Z and 69% of Millennials expect to maintain their new behaviours after the pandemic.
While Gen Z and Millennials reported they use technology more than any other generation, they also admitted they were feeling its negative side effects. Among the Gen Z respondents, 62% said they want to reduce the time they spend online in the future.
The research also revealed how Australians feel about using technology to connect with family and friends. Gen Z, Millennials and Gen X were more likely to say technology has helped them connect with others compared to Boomers.