![]() And this change, as most experts say, is likely the new norm today and for years to come. How COVID-19 impact Gen ZĬOVID-19 has changed the entire world and how people live their lives. That being said, let’s take a more detailed look into the latest trends among Gen Z-ers. This figure demands attention and can catapult revenues to new heights. Gen Z already holds a whopping $143 billion of buying power as of 2019. After all, the oldest members of Gen Z are 24 years old this year, capable enough to consume products of various kinds. Understanding Gen Z’s consumer habits (NPD, 2019) can be vital to the success of your brand. In other words, Gen Z means business, and they are the next batch of customers you’ll be serving for a long while. The answer lies in this forecast: in 2020, Gen Z became the biggest generation in America at 86 million, surpassing Millennials by almost 4 million (Knoema, 2020).Īnd over the next two decades, Gen Z is forecast to increase by 2 million more due to migration (Knoema, 2020). ![]() Now, you must be asking what Gen Z means to your business and why you, as a business owner, should care how these people choose to live their lives. Such categorization came from most researchers, who also classified generational breakdowns into separate groups (CGK, 2020): the Baby Boomers, born from 1944 to 1964 Generation X, born from 1965 to 1979 Generation Y, also known as Millennials and born from 1980 to 1994 and then comes the Generation Z. Specifically, they were those born from 1995 to 2015. Generation Z is the generation after the Millennials. ![]() To eliminate confusion, let us first define Gen Z.
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