Just as we are coming to terms with Gen-Y, futurists are already trying to get a handle on Gen-Z – those under 13 years old, born between 1995 and 2009. Yep, they are young and their consumer power pretty much comes from their pocket money.
However futurists already predict that these kids, which are 20% of the population and will represent 10% of the workforce in 10 years from now, will create another demographic shift.
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They are described by researcher Mark McCrindle in The Australian Financial Review today as digital natives who breath technology.
Here are 10 trends of Gen-Z:
- Gen-Zs are the children of older and wealthier parents with fewer siblings.
- They are given more entertainment and technology options and are likely to be the most materially supplied generation of children.
- Gen-Z kids are given more consumer items than any other generation ranging from computer games and MP3 players to private school education, holidays and cars.
- They are more sophisticated and “older” than previous generations. They are more worldly, aware of brands and marketing.
- As they become teenagers they will have a greater ability to make buying decisions.
- Fewer die young and Gen-Z will live longer than any previous generation (if they don’t get too fat.)
- They will move quickly from one task to another, placing more value on speed than accuracy.
- They will only have known a wireless, hyperlinked, user-generated world where they are only a few clicks from any piece of knowledge.
- Media is not time or place-based. They will control how content is delivered to them.
- They will be very empowered in the workforce because they will enter at a time when more people are leaving than entering.