While marketers continue to struggle to figure out the Millennials, Generation Z (born after 1995) is growing up behind the scenes. So what are some facts about Generation Z marketers should know?
Giselle Abramovich, Senior & Strategic Editor at CMO.com, has compiled a list of surprising facts about Generation Z. Here are a some of them:
- Consumers under 19 prefer social networks like Snapchat, Secret, and Whisper, while a quarter of 13-17 year olds have left Facebook this year.
- Generation Z will account for 40 percent of all consumers by the year 2020.
- They know how to self-educate: 33 percent watch lessons online, 20 percent read textbooks on tablets, and 32 percent work with classmates online.
- On average, Generation Z receives $16.90 per week in allowance, which translates to $44 billion a year.
- Millennials use three screens on average, while Generation Z uses five: a smartphone, laptop, desktop, TV, and iPod/iPad.
- Generation Z has an average attention span of about 8 seconds.
- They have an entrepreneurial spirit: 72 percent of current high-schoolers want to own their own businesses, and 76 percent hope they can turn their hobbies into full-time jobs.
- Generation Z influences $600 billion of family spending.
- 79 percent of Generation Z consumers display symptoms of emotional distress when kept away from their personal electronic devices.
- Over 50 percent of those 18 years of age and younger would rather shop for clothes, books, and electronics online instead of in brick-and-mortar stores.
- Generation Z consumers spend an average of 7.6 hours a day socializing with friends and family.