They have no idea what the world would have been like without the Internet and cell phones, the kids of Gen Z. In fact, we are talking about young people born between 1996 and 2010. It is the first digital native generation, which is preparing to enter the world of adults and work and is imposing itself on the social landscape so that other generations will meet its needs.
Generation Z Analysis: Rising Economic Power
Companies, brands and in general the various professional and product sectors cannot fail to consider the needs and tastes of the public as a priority. Gen Z. It is the fastest growing generation, as also highlighted in the BofA-Bank of America report “Ok Zoomer: Gen Z primer”. According to estimates, the economic power of this target will increase by about five times by 2030, reaching 33 trillion dollars (equal to over 27.5 trillion euros at today's exchange rate). TheGeneration Z analysis shows that the latter, always within the next ten years, will touch the 27% of global income surpassing the Millennials, the previous generation, that of their parents and uncles. Do you want to know how the "Zedders" make their main purchases? They buy everything online or do they also like to go to physical stores? Contact us Universitybox Agency, specialized in student marketing for almost twenty years.
Generation Z and Consumption: Mobile Shopping
It is indicated by many as the winning weapon of emerging economies, the Gen Z: nine out of ten people belonging to this segment of consumers, in fact, live in those markets. India, in particular, stands out as the country par excellence of Generation Z and consumption relative, representing the 20% of under-30s globally, thanks to improved youth literacy rates, urbanization and the development of technology infrastructure. According to BofA analysts, Mexico, the Philippines and Thailand are also among the countries to watch in this regard. Other reports estimate that by 2025, Zedders will account for at least a quarter of the population of the so-called Asia-Pacific region nations. When it comes to payments, a quarter of respondents in the BofA survey said they use their phone. What do Gen Z kids value in terms of products, services and shopping experiences? What do they think about the environment and sustainability? Contact University box.