Generation Z is currently defined as those born between 1997 and 2012, i.e. those who will be aged between 12 and 27 in 2024. In the main countries of the European continent, the population between 14 and 27 years of age is 48.5 million, distributed among the different nations as follows Spain with 6.4 million, Italy with 7.6 million, France with 10.4 million, the United Kingdom with 10.5 million and Germany with 13.6 million. Although they are a smaller segment of the population than previous generations (the boomers, for example, number almost 70 million), Gen Z continues to be at the centre of the debate and the attention of companies, for whom they represent the protagonists of the future.
What are the main trends that marketers need to take into account about Generation Z? We have identified 10.
1. The relationship with work
Despite stereotypes about the laziness of the new generations, our Observatory shows that they are ambitious and eager to earn, but they have higher expectations in terms of return on investment, i.e. they have a different approach to work. Aspects that were considered ‘nice to have’ in the past are now expected, such as working from home and a better work-life balance.
2. The relationship with money
Whether the money available comes from work or parents’ allowance, less than 20% say they spend all the money they have, while the vast majority save some (Gen Z, Eumetra 2021). An opportunity for financial industry players to start supporting and increasing the financial literacy of future customers.
3. New ways of buying and paying
The ‘blanket’ is getting shorter and shorter and budgets need to be prioritised. Social is also a way to explore products and brands and make purchases. One of the attractions of TikTok, in particular, is getting opinions from real people. New payment methods such as ‘buy now, pay later’ are emerging.
4. Mental wellbeing, the most desired goal
Gen Z has had to face major crises (pandemic, wars near Europe, extreme climate change) during important life transitions. Their anxiety is partly conditioned by social media and its suggestion of unrealistic bodies, threats of climate change (eco-anxiety) and war videos. The cost of psychotherapy is prohibitive for some (see the recent petition launched by Fedez). What can brands do to help young people?
5. The relationship with the body
How has the relationship with the body changed compared to the past? Is there still a striving for unrealistic models or is there a greater acceptance of oneself and of different individual characteristics?
6. Environmental concerns, climate change, sustainability
The sensitivity and attention of the new generations to issues of sustainability in their environmental and social decline is well known. This is a characteristic they share with the older generations, especially the boomers. 8 out of 10 Gen Zers believe it is extremely important to take urgent action to combat climate change. What are their environmental and social priorities today? And what is Gen Z doing concretely to help change the current situation? How important are these issues to their vision of the future?
7. Streaming and scrolling
Linear TV is not widely watched by Gen Z, but streaming TV also has to compete with watching videos or other things on various online platforms. What is the frequency of exposure to these media? What types of content do they prefer?
8. Social gaming
What is the role of social gaming among Gen Z gamers? They see the success of platforms such as Discord, which offers both voice and text chat and community interaction. And how prevalent is real money gaming?
9. New images
What are your favourite drama series? And favourite bands or singers? Which influencers do you follow? Or those most associated with specific sectors? How strong is their influence?
10. A new relationship with brands
The first editions of our Observatory revealed a distinctly different attitude towards brands compared to other generations. Less attached to brand fame and history, Gen Zers expect something in return from companies and pay particular attention to real consumer testimonials. What are the most popular brands in different sectors? What makes a brand cool or desirable? How can brands engage Gen Z? Which communication styles and languages are best suited to speak to them?
Eumetra has been monitoring this target group for several years in Italy and Europe through the multi-client survey “Gen Z – Next Generation”. With this third edition, we no longer want to look at Gen Z as a monolith. Today’s young people are not all the same just because they are in the same age group. We need to understand what kind of teenagers the youngest (the “teens”, aged 15 to 19) are, but above all what kind of adults the oldest among them are becoming and how they relate to brands now that they are entering “active” life (the 25 to 27 year olds), without neglecting the middle part of the generation, made up of the 20 to 24 year olds.
For this edition too, our research will be European: from the perspective of increasingly interconnected citizens and markets, and also because analysing the citizens of countries that have a higher ‘speed’ will give a sharper insight into the future of the remaining countries.
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