If you’re still gossiping about the Millennial generation, that’s old news. The public has flooded news, blogs, social media, and surveys with information on Millennials and how to market to them, but are they forgetting something? Generation Z has crept up suddenly as the oldest Gen Zers turn 22. Now, purchasing markets have rushed to collect data on how much purchasing power this new group has and how to effectively market to them. What did they find?
In the midst of figuring out Gen Z, research has left us pleasantly surprised–especially when it comes to adulting–because they are ready and willing right now.
Generation Z characteristics:
- Generation Z now makes up 26% of the population
- Born from ~1996 to somewhere between 2012 and 2015 (information varies)
- Pragmatism: conscientious, hard-working, and “mindful of the future”
- The first true digital generation: grew up with iPhones + more
- Optimistic rather than the “innocence lost” mentality of Millennials
- $44 billion annually in purchase power thus far
What Gen Z thinks about:
Realtors and lenders across the board, get ready to accommodate the largest generation with the most purchasing power yet. Majority of Gen Zers are still too young to affect the housing market now, but with 82% believing in the American Dream, they’ll start purchasing homes before you know it!