Gen Z (born between 1997-2012) is the first generation born into a fully digital world and has tremendous power to change the retail and business landscapes. This generation has unique needs and beliefs, along with a huge size and immense purchasing power. Want to know more about Generation Z?
To help you out, we've compiled some interesting Gen Z stats to develop a more effective business strategy geared towards their preferences.
Generation Z Stats Highlights
- Generation Z members have an attention span of 8 seconds.
- It is estimated that Generation Z influences $600 billion in family spending.
- Generation Z represents 32% of the world's population.
- 95% of teens report they have a smartphone or access to one.
- Gen Zers are more racially and ethnically diverse than any previous generation.
On This Page
- 1 Generation Z - Key Stats
- 1.1 Generation Z members have an attention span of 8 seconds.
- 1.2 It is estimated that Generation Z influences $600 billion in family spending.
- 1.3 Generation Z represents 32% of the world's population.
- 1.4 95% of teens report they have a smartphone or access to one.
- 1.5 Gen Zers are more racially and ethnically diverse than any previous generation.
- 1.6 43% of Gen Zers would participate in a product review.
- 2 Additional Generation Z Stats
- 3 Wrapping Up
Generation Z - Key Stats
Now let's dive into the stats a bit deeper.
Generation Z members have an attention span of 8 seconds.
(99 firms)
Gen Z facts indicate that fast internet speed, which brings the world to their tips, and multiple choices have led to a decline in the attention span of GenZers. Not long ago, Millennials were considered distracted with their average attention span of 12 seconds. Leading social media platforms have developed advertising options for this audience: Vine's 6-second videos, Snapchat's 10-second story limit, and YouTube's 6-second pre-roll ads.
It is estimated that Generation Z influences $600 billion in family spending.
(WARC)
Gen Z is typically better informed of new trends and more open to trying out new brands and products. It has a bearing on the purchase patterns of their parents or other earning family members and will likely shape Generation Z's spending habits in the future. In a recent survey carried out by WARC, over 70% of Gen Z-ers say they influence family decisions on buying furniture, household goods, and food and beverages.
Generation Z represents 32% of the world's population.
(99 firms)
Born between the mid-90s and early 2000s, Generation Z (also known as "Gen Z") is currently the world's largest generational group, representing approximately 32% of the world's population. Now maturing into adulthood, Gen Z is one of the most important demographics for university recruiters today.
95% of teens report they have a smartphone or access to one.
(PewResearch)
Smartphones are a natural extension of generation Z. 95% of this generation have their own smartphone, which they spend nearly 10 hours or more per day on. They spend the most time scrolling through Instagram and watching YouTube videos. It means that Gen Zers are the most connected generation yet, having access to a wealth of information at their fingertips and being reachable at any time, day or night, almost anywhere on the planet.
Gen Zers are more racially and ethnically diverse than any previous generation.
(Pewresearch)
Aside from the unique set of circumstances in which Gen Z is approaching adulthood, we know it's different from previous generations in some important ways but similar in many ways to the Millennial generation that came before it. Members of Gen Z are more racially and ethnically diverse than any previous generation, and they are on track to be the most well-educated generation yet.
43% of Gen Zers would participate in a product review.
(truelist)
Generation Z's interests vary, but it seems that one of the more peculiar facts about Gen Z is that this age group really enjoys reviewing products. In fact, 43% of individuals would gladly participate in a product review. It means they want to voice their opinion and build more engaging conversions about brand relationships than any other generation.
Additional Generation Z Stats
- Around 73% of the Zoomers use their internet-connected devices mainly for chatting and texting.
- Gen Z constitutes 26% of the total population across the world.
- The birth rate of Gen Zers in the United States has outpaced Millennials by an average of 3 million.
- Nearly 99% of Gen Zs either own a smartphone or have access to one.
- 85% of the Gen Z population use different social media channels to learn about various products.
- Gaming is the number one entertainment activity for 26% of Zoomers.
- In 2019, Gen Z outnumbered millennials, making up 32% of the world's 7.7 billion-person population.
Wrapping Up
Generation Z is the most diverse generation in history. It is a generation of progressive, open-minded young individuals who have strong values, beliefs, and attitudes, looking to make a lasting difference. This Gen Z generation will soon become the most pivotal generation to the future of retail, and many will have huge spending power by 2026. To capture a piece of this growing cohort, retailers and brands need to start establishing relationships with Gen Zers now.
Sources
https://99firms.com/blog/generation-z-statistics/
https://review42.com/resources/gen-z-statistics/
https://www.insiderintelligence.com/insights/generation-z-facts/
