This generation want to live a life of financial freedom and independence, but they are also deeply purpose-driven. They value authenticity and living a life where their values and actions align. They fear not reaching their full potential and not making a difference with their life.
Gen Z is known for being resourceful, independent learners who value diversity and inclusive culture and place a priority on well-being and mental health in the workplace. They are fiscally conservative with a keen focus on investing and income. Gen Z values justice and equity.
Gen Zers generally have strong values related to racial justice and sustainability. Mobilizations like the Global Climate March, led by Gen Z activist Greta Thunberg, thrive on the activism of young people. Climate change is one of the issues Gen Zers care about most.
According to a 2021 Consumer Culture Report by 5WPR, Gen Z is prioritizing electronics, technology, health, and wellness. Conversely, Millennials and those from older generations prioritize travel and experiences, home goods, and furniture.
'Devastating – economically, socially and much more'
In the short term, Gen Z's stress is leading to ambivalence and withdrawal in their professional lives. According to 2022 data from Gallup, they are the most disengaged group at work. They also report more overall stress and work-related burnout than other cohorts.
It starts with what values are important to Gen Z'ers and moves into what brands and products they rate. “Teens feel that being cool is about just being yourself, embracing what you love, rejecting what you don't, and being kind to others.”
In general, Generation Z shifted to an egalitarian family type. Unlike Generation Y, members of Generation Z valued spiritual satisfaction and underestimated achievements.
Nearly 3 in 4 Gen Zers say they would rather have a better quality of life than extra money in the bank. In fact, experiences matter more than money to Gen Z, as 66% say they are only interested in finances as a means to support their current interests.
Let Me Play and Let Me Loose: Gen Z's Motto At Work.
Gen Z cares about the collective good and well-being. But they also care about everyone having the chance to be who they are in their lives. In other words, freedom of expression is vital to Gen Z. They want to support people and groups that are real (i.e. authentic).
You'll find that they are quite different from the previous generations. Gen Z prioritises positive relationships, work-life balance, schedule flexibility, and job stability. 90% of them want human interaction at work and direct communication from their co-workers.
They prefer to shop directly from brands.
Gen Z is known to favor eco-friendly products from sustainable brands, and, as consumers, they're more likely to abandon a purchase from brands that don't meet their ethical standards.
Generation Z has more conservative spending habits and is more focused on saving money than millennials were at their age. Gen Z tends to be interested in purchases that provide the maximum amount of value for their money, while millennials are more focused on the buying experience.
Millennials value work-life balance whereas Gen Zers value salary and career advancement. Members of Gen Z are more independent and prefer to figure things out themselves while millennials tend to value teamwork and input from others more highly.
Social media is a huge trend for this generation. Instagram, Snapchat, and TikTok are, by far, the most frequently used platforms. One-quarter of Gen Zers spend five hours or more per day on TikTok. TikTok continues to soar in popularity among members of Generation Z (4,600% in 5 years).
Like Millennial Pink, Gen Z colors favor the eye-popping Cyber Lime (forecasted to be big in 2024) and Digital Lavender, also aligned with inclusivity. “[Cyber Lime] can speak to all, which Gen Z is very sensitive to,” said Guilbert.
The Greatest Generation commonly refers to those Americans who were born in the 1900s through the 1920s. The Greatest Generation members all lived through the Great Depression and many of them fought in World War II. These individuals have often been described as driven, patriotic, and team-players.
The study found that about half (49%) of millennials surveyed want to work fully remote, whereas only 27% of Generation Z (Gen Zers) feel the same way; they're much more likely than average “to be seeking in-person” work opportunities.
It's no secret that every single generation has endured horrible trauma of one variety or another. But Generation Z is likely the most aware of (and most openly vocal about) the concept of trauma, its lasting mental health aspects, and mental health conditions in general.
Many Gen Z respondents reported experiencing stress, sadness, anger, and frustration due to climate change and its related disasters. More than 50 percent of total respondents expressed fear and anxiety about the future, with Gen Z demonstrating greater concern than other generations.
They're impulsive. Another weakness of Gen Z is that they can be quite impulsive. With instant gratification being so easily accessible, this generation has difficulty waiting for anything. They want what they want and they want it now!