All About Gen z

66 Of The Most Interesting Facts About Generation Z

BY DAN SCHAWBEL

Generation Z  represents 23 million Americans  born between 1994 and 2010. While they haven’t entered the workplace yet, they have a different set of values and beliefs than their predecessors. They were born during the financial meltdown and don’t know a world without the Internet. They will become the most entrepreneurial, conservative, diverse and educated generation in the world. Here is a collection of all research I’ve collected on Gen Z, with more to come soon. They will help you understand what they value, as well as how to hire and sell to them.

Facts About Generations Series

51 Of The Most Interesting Facts About Generation Z.
74 Of The Most Interesting Facts About Millennials.
44 Of The Most Interesting Facts About Generation X.
53 Of The Most Interesting Facts About Baby Boomers.

Gen Z and the economy

  • Gen Z receive $16.90 per week in allowance or $44 billion a year total. [Mintel]
  • 58% of Gen Z’s are either somewhat or very worried about the future. [JWT]
  • They have a combined buying power of $43 billion and influence an additional $600 billion of family spending. [Chamber of Commerce]
  • 77% believe they will need to work harder compared to those in past generations to have a satisfying and fulfilling professional life. [Robert Half]
  • One third would like to retire by the age of 60 but only 17% think it’s possible. [Robert Half]

Gen Z values

  • 77% of Gen Z’s are either extremely or very interested in volunteering to gain work experience. [Millennial Branding / Internships.com]
  • 26% are currently volunteering. [Intern Sushi / CAA]
  • 76% are concerned about man’s impact on the planet. [JWT]
  • 79% of display symptoms of emotional distress when kept away from their personal electronic devices. [University of Maryland]
  • 90% would be upset if they had to give up their Internet connection while only 51% would give up eating out and 56% would give up downloading music. [JWT]
  • 84% multitask with an Internet-connected device while watching TV. [Forrester Research]
  • They have more than 10 apps on their smartphone with 10% having more than 40. [Visa]
  • 60% of Gen Zs say “a lot of money” is a sign of success. [Deep Focus]

Gen Z’s as employees

  • Gen Z respondents say they prefer in-person communications with managers (51%), as opposed to emailing (16%) or instant messaging (11%). [Millennial Branding / Randstad]
  • 17% of Gen Z wants to start a business and hire others. [Millennial Branding / Randstad]
  • 34% are most motivated by opportunities for advancement, followed by more money (27%) and meaningful work (23%).
  • Gen Z expects to work for an average of four companies throughout their lifetimes.  [Millennial Branding / Randstad]
  • 52% of Gen Z state that honesty is the most important quality for being a good leader. [Millennial Branding / Randstad]
  • 41% want to work at midsize organizations as the ideal work environment, followed by large organizations (38%). [Robert Half]
  • 28% said balancing work and personal obligations was the top future career concern, followed by making enough money (26%) and finding a stable job (23%). [Robert Half]
  • 32% believe they will be managing employees within the next 5 years. [Robert Half]
  • 45% cited potential challenges working with baby boomers, compared to 17% who anticipate difficulties with Gen X and 5% with millennials. [Robert Half]
  • 60% want to have an impact on the world with their jobs (compared to 39% of millennials). [Intern Sushi / CAA]
  • 89% say they spend part of their free time in activities they consider productive and creative instead of just “hanging out”. [Deep Focus]
  • Gen Zs are more likely to have worked on a craft than Gen Ys at that age (42% vs. 25%). [Deep Focus]
  • 41% of Gen Z say corporate offices are their workplace preference [Future Workplace / Randstad]
  • Technologies that Gen Z want their employers to incorporate into the workplace include: social media (41%), wearables (27%) and virtual reality (26%). [Future Workplace / Randstad]
  • Gen Z’s are most interested in working in the technology industry (45%) and education (17 percent) and are least interested in insurance (3%), energy and utilities (3%) and telecommunications (4%). [Future Workplace / Randstad]
  • 81% of Gen Z aspires to be a leader.  [Future Workplace / Randstad]
  • The people that most influence their career related decisions include their parents (30%), managers (17%) and friends (17%). [Future Workplace / Randstad]
  • 37% spend more than 30% of their personal and professional time on Facebook. [Future Workplace / Randstad]
  • The top employee benefits they desire include work flexibility (19%), healthcare coverage (15%) and training (14%). [Future Workplace / Randstad]
  • 34% are most concerned about boosting their people management skills. [Vision Critical]
  • 75% want to convert hobbies into full time jobs [Vision Critical]
  • 93% say that a company’s impact on society affects their decision to work there. [i4cp]

Gen Z students

  • 55% of Gen Z students say that their parents are putting pressure on them to gain professional experience during high school. [Millennial Branding / Internships.com]
  • Nearly 50% of Gen Z students are participating in internships for the purpose of advancing themselves professionally in high school. [Millennial Branding / Internships.com]
  • 64% of Gen Z consider earning an advanced degree as one of their life goals. [Intern Sushi / CAA]
  • 80% of Gen Z’s think they are more driven than their peers. [Intern Sushi / CAA]
  • 50% of Gen Z’s will be unviersity educated compared to 33% of millennials and 25% of Gen X. [JWT]
  • 85% research online and 33% watch lessons online to educate themselves. [JWT]
  • 52% use YouTube or other social media sites for a typical school research assignment. [Pew Research]
  • 60% of Gen Zers say they like to share their knowledge with others online, a sign of collaborative skills. [Wikia]
  • 64% say they contribute to Websites because they like learning about new things. [Wikia]
  • 76% feel that their online experiences will help them reach their goals. [Wikia]
  • 66% say that technology makes them feel that anything is possible. [Wikia]
  • 31% say their great aspiration is being financially stable upon graduation, followed by 28% who said being in their dream job. [Adecco]
  • 30% feel their college has failed at teaching them applicable real life business skills. [Adecco]

Gen Z’s as entrepreneurs

  • 72% of Gen Z wants to start a business someday. [Millennial Branding / Internships.com]
  • 61% of Gen Z would rather be an entrepreneur instead of an employee when they graduate college. [Millennial Branding / Internships.com]
  • 62% would rather start their own companies than work for one. [Deep Focus]
  • 58% have shown interest in developing skills tied to how to start a business. [Deep Focus]
  • 71% expect to experience significant failure before achieving success, and nearly 40% say they see failure as an opportunity to try again. [Deep Focus]
  • 76% wish their hobby would turn into a full-time job compared to 50% of millennials. [Intern Sushi / CAA]
  • 42% plan to start their own businesses and 3% currently run their own business. [Gallup]
  • 38% say they will invest something that changes the world.  [Gallup]

Gen Z’s as consumers

  • 55% of Gen Z would rather buy clothes online and 53% would rather buy books and electronics online. [JWT]
  • 64% are more likely than other generations to trust somewhat or completely the content on mobile apps from brands, as well as text messages from brands. [Grail Research]
  • 90% will make sure their parents feel a planned purchase is affordable before going ahead with it. [JWT]
  • 43% said their family influences their purchasing decisions the most followed by friends (35%), friends of friends (23%) and celebrities (10%). [JWT]
  • 64% said their parents pay for them with their credit/debit card. [JWT]
  • 22% of surveyed Gen-Z consumers say they trust somewhat or trust completely posts by companies or brands on social networking sites. [Forrester Research]
  • More than 50% identify themselves as deal hunters. [Cassandra Report]
  • 57%  research products more than they used to before making a purchase. [Cassandra Report]
  • Their favorite items to spend money on are food and drink (36%), going out with friends (32%) and clothes (18%). [Visa]
  • 66% want to own both houses and cars in their lifetimes. [Deep Focus]
  • 34% want brands to reach them on social media and only 13% want to be contacted through snail mail. [Deep Focus]
  • Gen Z’s most used tech devices are the smartphone (15.4 hours/week), TV (13.2 hours/week) and a laptop (10.6 hours/week). [Vision Critical]
  • 60% would prefer a cool product over a cool experience compared to 40% of Millennials. [Vision Critical]
  • 34% want brands to reach out to them on social media, followed by 33% by email and 28% by online advertisements. [Vision Critical]
  • 27% want advertising to include celebrities or athlete’s. [Vision Critical]
  • 50% would look on their phone to look for a better price while shopping at a retail store. [Gen HQ]
  • 63% are concerned when it comes to protecting their identity when paying with a debit or credit card online or in a retail store. [Gen HQ]
  • 92 percent of Gen Z own or plan to own a vehicle, and 97 percent have or plan to get a license. [Kelley Blue Book]
  • 38% try to use rewards everytime they shop. [EY]
  • 46% value special offers via email. [EY]
  • 61% researches products on a mobile phone at least weekly. [Forrester Research]
  • 93% of parents say their Gen Z kids influence family spending decisions and household purchases. [Cassandra Report]

Gen Z’s as investors

  • 57% would rather save money than spend it. [The Intelligence Group]
  • 76% spend money on themselves, while 62% save it, 38% spend it on things for friends and family and 10% give it to charity. [JWT]
  • Their top financial goals are buying a car (33%), paying for education (23%) and buying a house (20%). [Visa]
Source
Dan Schawbel

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