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1、What Business Needs To Know About The Generation Changing EverythingClickEMBARGOED DRAFT-CONFIDENTIAL-NOT FOR EXTERNAL SHARECopyright 2023 Oliver Wyman and The News Movement;all rights reserved.This report may not be reproduced,redistributed or sold,in whole or in part,without the written permission
2、 of Oliver Wyman and The News Movement.Neither Oliver Wyman nor The News Movement shall have any liability to any third party in respect of this report or any actions taken or decisions made as a consequence of the results,advice or recommendations set forth herein,or for any consequential,special o
3、r similar damages even if advised of the possibility of such damages.3Can a single generation save the world?It happened in the 1940s,when the so-called Greatest Generation successfully turned back fascism and ushered in a long period of stability and rising living standards.Now come what may be the
4、 rightful heirs to the mantle a consequential generation that may be humankinds best,and greatest,hope in the existential battles against global warming,inequality,and political and social unrest.Were talking,of course,about GenerationZ,also known as GenZ,Gen Edge,iGen,the post-millennials,and the N
5、ew Greatest Generation.Theyre the“most”generation in history:most racially and ethnically diverse,most educated,most digitally savvy,and most global by dint of being weaned on the Internet.Theyre also the most nonconformist rejecting labels and traditional financial pursuits and embracing the YOLO l
6、ife(you only live once,in case youre asking)and non-binary ideas of gender and sexuality.In time they will redefine politics,the economy,the workplace,healthcare,brand marketing,and much more.“Snowflake”clichs aside,GenZers are also the most resilient having seen too much tragedy in their short live
7、s.They have lived through a global pandemic,an opioid crisis,the war on terrorism,and lockdown drills.These events launched a generational army of activists who feel theyre fighting for their lives.They know the world is burning;they have the receipts.Shakespeares line that heavy is the head that we
8、ars the crown applies to GenZ.From climate change to social injustices,they are the generation that could have the last word on the future of society and humankind.With nothing to lose and everything to gain,were betting they succeed and become the Greatest Generation of the 21st century.To better u
9、nderstand GenZ we studied them over a two-year period.We talked to them,in depth and on their terms.Our research included focus groups and a recent online survey of 10,000 adults in the United States and the United Kingdom.Through our exhaustive analysis,we cracked the code on Introduction4what make
10、s GenZ tick and are sharing our findings here.Weve organized this research into seven chapters that describe how GenZ will profoundly change how we live,work,shop,invest,interact,react,stay healthy,and stay informed.Our Executive Summary gives you a preview of our most actionable findings.For this r
11、eport,we focus on the age 18 to 25 cohort old enough to have potentially joined the workforce,and now exercising more independent buying power than younger members of their generation.In the workplace,autonomy,transparency,and training will be the price employers pay for their loyalty.And as the lar
12、gest and most disruptive generation ever,their behaviors will reward companies that can tap into their zeitgeist and doom those that are,well,cheugy.As consumers,GenZers wont hesitate to punish brands for performative activism,goodwashing,or false advertising.They prefer brands with an open,and even
13、 vulnerable,style.They want relatable brands that invite them into genuine conversations where they are heard.Businesses need to embrace GenZers unique self-expression with an unfiltered authenticity of their own.GenZers clout comes from their numbers and their worldview.Born between 1997 and 2012,G
14、enZ represents 25%of the worlds population and$7 trillion or more in purchasing influence,and will comprise 27%of the workforce by 2025.GenZers are empathetic,pragmatic,cynical,resourceful,self-protective,and wise beyond their years.And yet GenZers are unfinished products.Their mastery of technology
15、 has left their social skills less developed.They have challenges spotting misinformation,and a fear of making mistakes.Having seen the older millennials live out their lives on the big social platforms with cringe results many GenZers have retreated to obscure microsites where they can better contr
16、ol the narrative.But if you dismiss their choices and assume theyll revert to the social norms because we did youre gonna get played,no cap.Their individuality,morality,and preference for experience over possessions are seared into their DNA.GenZ has,in some ways,lived a full life before turning 26.
17、But these workers,shoppers,activists,and citizens are just getting started.They are a force of nature and they will shape the future in ways that we havent seen for nearly a century.5A-Gen-Z Report|.And on a path to becoming a leading force in the workplaceMillennials36%35%Gen X31%26%Boomers18%8%Sha
18、re of workforce forecast620222031Gen Z is diverse,smart,connected,and struggling with mental healthGen ZMillennialsGen XBoomersRacial and ethnic diversityPercent of each generation that does not identify as non-Hispanic white2(US Only)College educationPercent of each generation enrolled in college a
19、t ages 18-213(US Only)TikTok usagePercent of each generation that follow and buy from TikTok accounts4Self-reported mental health issuesPercent of each generation that self-report struggling with at least one mental health issue in the last two years5(US/UK only)48%46%41%29%57%52%43%42%28%16%6%65%51
20、%29%14%Global population125%Gen Z 23%Millenials19%Gen X 14%Boomers(US Only)Gen Z15%31%1 Age group data adjusted to align with Pew Research Center definitions of each generation.Source:Fitch Solutions.2 Source:US Census Bureau,Insider Intelligence.3 Measured in 2018 for Gen Z,2003 for Millennials,and
21、 1987 for Gen X.Source:Pew Research Center Analysis of US Census Bureau,Insider Intelligence.4 Source:Klarna,Insider Intelligence.5 Source:Oliver Wyman Forum Global Consumer Sentiment Survey,September 2020present.6 Age group data adjusted to align with Pew Research Center definitions of each generat
22、ion.Source:US Bureau of Labor statisticsPortrait of a Rising Generation6Older people sometimes caricature GenerationZ as a temperamental collection of“snowflakes”and“strawberries”who personify the excesses of the social media era.But these digital natives are so much more than that.They are emerging
23、 from the global pandemic resilient and pragmatic,self-reliant and collaborative.Businesses that dismiss them do so at their peril.Born between 1997 and 2012,GenZers are still coming of age but they already display fierce independence,passionate activism,and unwavering acceptance of others.They poss
24、ess a moral compass and a willingness to chart their own paths rather than conform to previous norms.These traits will serve them well as they reshape society,the economy,the workplace,and much more in the years to come.We spent two years studying this generation.Our research included focus groups a
25、nd a recent poll of 10,000 adults in the United States and the United Kingdom.While GenZ is not a monolithic group far from it our exhaustive research enables us to connect the dots in new ways on many of the commonly shared views and traits that define this cohort.While many generations“become thei
26、r parents”as they pass through lifes many stages,the evidence suggests GenZ will be different.Given the economic,social,and political trauma they have faced in their short lives,many of their values,behaviors,and lifestyle choices are now etched into their DNA.Brands and employers expecting GenZ to
27、revert to the mean will be surprised when they dont.Our report dives deeply into what makes GenZ tick and examines in detail the changes they are bringing.Here is a summary of our most important findings and how businesses should prepare.Who they are.When it comes to identity,GenZ defies all labels.
28、Its members are spiritual,but not religious.Theyre realists,and are also optimistic.They embrace gender fluidity and view“situationships”as a practical alternative to defined relationships.Executive Summary7A-Gen-Z Report|Executive SummaryGenZers want bosses who understand them and brands that celeb
29、rate their differences and support them in their fight against gender norms,beauty standards,and outright discrimination.To stay relevant,many companies must learn to shapeshift,too,by amending their policies,procedures,and benefits to fit GenZs needs.Where they are.GenZers are the first true digita
30、l natives,and it shows in how they choose to stay informed.They may trust print and broadcast news,but 60%get their news from social media and its many influencers and creators,in part because they appreciate multiple viewpoints.They are skeptical and aware of the need to double-check what they hear
31、.But they often struggle to distinguish fact from the conspiracy theories,half-truths,and outright lies that pervade social media.To remain relevant and combat disinformation,media organizations must compete with social platforms through content that is not only informative and entertaining but also
32、 relatable.That means partnering with influencers and building up their presence on social media.The same is true for companies that want their story to be heard and to stick.They should listen first,then understand and meet GenZers where they are.How they feel.Coming out of the pandemic with twice
33、the reported mental health issues as before,GenZers have become obsessive about their well-being.And theyre managing it on their own terms.Increasingly distrustful of mainstream medicine,GenZers are embracing a more holistic approach that gives greater weight to their mental well-being.They track th
34、eir health with wearables,are trying alt-treatments like CBD,and follow TikTok influencers for medical advice.Their embrace of alternative medicine reflects a concern that many aspects of mainstream healthcare dont address their needs.GenZers are demanding greater attention is paid to the mental hea
35、lth crisis,womens health issues,and the inequalities in access to healthcare.And even those with“Maybe the older generations sucked it up and got on with it.Because it was quite a nice thought,being able to retire and do what you want.But now were looking at it and our retiring age is moving further
36、 and further and further,and were like,how long is this gonna keep going on for?”Midlands,UK8access to care want better communication with their providers and options that fit their perceptions of self-care.Over time,GenZers proactive approach is likely to reshape the healthcare industry with their
37、expectations for what care should look like and how it should be delivered.That has implications for the healthcare establishment and will compel employers to greatly expand the health benefits they provide.What they care about.GenZers are throwing their idealism and ingenuity into fights against cl
38、imate change,income inequality,and other issues.While they disproportionately engage in public protests,GenZers also see value in posting on social media or talking with their friends due to the collective impact of these small actions.Yet,they are aware they cant create change alone.Their trust in
39、government and media might be fading,but they believe big institutions have the responsibility to act.They think businesses need to raise their game and any business that does will have a distinct advantage.Yes,some corporate leaders are facing a backlash from investors who want them only to focus o
40、n the bottom line rather than taking a stand.But if companies dont speak out about issues that matter to GenZ,they risk losing the next generation of consumers and employees.GenZers have a keen eye for performative activism,and issuing a statement that is blatant“greenwashing”wont suffice.Instead,th
41、is generation pays attention to substantive commitments of time and money.Giving GenZers the volunteer time and financial backing to support their passions are good first moves.What they are doing financially.Watching their parents and older siblings struggle financially has made GenZers debt-averse
42、,stressed about money,and determined to manage their finances differently.GenZ investors are starting younger and,as a group,have a higher percentage of women and people of color.And true to their digital upbringing,they seek community by crowdsourcing investment ideas from subreddits and the flashy
43、 influencers on TikTok and Discord.And yet,theyre not sure if theyre making the right moves:GenZers are 1.4 times more likely to report that“money stresses me out”than older generations and five times less likely to be disciplined with their spending.While many GenZers may not have money today,wealt
44、h managers,asset managers,and other types of financial institutions need to play the long game and grab the hearts,minds,and wallets of this next generation of investors.Retooling their products and marketing to reflect GenZs diversity is a good start,as is providing more educational and investing c
45、ontent.How to win them as customers.GenZ has always had a world of online information at its fingertips.As comparison-shoppers,they are frugal,cynical,and can sniff out marketing gimmicks and false claims in a heartbeat.They expect more from companies than millennials do,and wont hesitate to bury co
46、mpanies on social media for their missteps.9A-Gen-Z Report|Executive SummaryYes,they are a tough sell.But as they fully reach adulthood over the coming decade,GenZ will become the largest consumer demographic in history.That means brands have no choice other than to learn what GenZ wants and find wa
47、ys to be relatable,inclusive,trustworthy,and transparent.Brands need to show authenticity,get“phygital”with the right mix of physical and digital engagement options,and understand that dialogues are the path to transactions.How to win them as employees.While previous generations did whatever it took
48、 to climb the corporate ladder,GenZ isnt about it.The pandemic turned their first jobs into a two-year video call and raised the bar for what they want from their working lives.What many want is to work for globally aware companies that provide the flexibility,autonomy,and work-life balance they see
49、k.And they will#quietquit or#jobhop from employers that dont.A large portion of GenZers already are fashioning work for themselves that fits what they want,on their own terms:Today,45%of them have side hustles.With GenZ expected to account for nearly a third of the workforce by 2030,employers must r
50、aise their game to recruit and retain the best and brightest.Covering the basics pay,growth opportunities,better work-life balance,transparency is a start.So,too,is prioritizing their health,offering career optionality and initiatives that help them find personal fulfillment at work,and nurturing th
51、eir entrepreneurial spirit.As this report shows,GenZ is different from even the young millennials who are only a few years older.Timeworn strategies wont work on this cohort and waiting for them to conform to the old rules is risky for businesses and employers alike.GenZers want more more transparen
52、cy,personalized attention,democratized information,equitable treatment,and options in the jobs they work and products they buy.Businesses that became nimbler and more agile during the pandemic should use those same skills to adapt to GenZs unique needs.Companies need to be creative and approach deci
53、sions more like experiments they can learn from.Given GenZs size and clout,employers and brands have no choice but to adapt.The question is whether they will forge ahead to leapfrog the competition or be leapfrogged.Seizing the moment will help them win over the most consequential generation in mode
54、rn history.1011The Generation Changing EverythingIntroduction 4Executive Summary 7Who they are Peak Creative Individualists FTW 14Creator Sade Framness 21Where they are Goodbye Network News,Hello Mr.Beast 24Creator Clodagh Griffin 33How they feel Healthcare As Self Care 36Creator Xavier 43What they
55、care about The Change Generation 46What theyre doing financially Money:A Complicated Situationship 54Creator Santiago Campos-Araoz 61How to win them as customers The Swipe-And-Buy Squad 64How to win them as employees Working To Live 74Methodology 83Me,Myself,And AI 86Acknowledgements 891213Peak Crea
56、tive Individualists FTWRejecting gender roles and the commodification of self,theyre finding meaning on their own terms82%more likely than other generations to believe traditional gender norms are outdated1/3of Gen Z women believe todays beauty standards are unachievable without cosmetic procedures1
57、30%more likely than other generations to believe its OK to be in an open relationship 25%less likely than other generations to believe organized religion creates community2.6 times more likely than other generations to buy clothing weeklyA-Gen-Z StatGenZers defy labeling.Theyre spiritual,but not rel
58、igious.Theyre realists,but also optimistic.They reject traditional gender roles,believe polyamory is as valid as monogamy,and follow social media but think true beauty isnt airbrushed.Their take on individualism is not stridently“me”focused nor is it about being different for the sake of standing ou
59、t.Its much more low-key and profound.Its about encouraging people to be themselves and to make others feel welcome and respected.They believe diversity and inclusion are not superficial promises made in mission statements and commercials;they are immutable laws that define how the world should work.
60、And they want bosses that understand them and brands that celebrate their differences and support them in their fight against gender norms,beauty standards,and outright discrimination.14Nihilists?Were just realistsGenZs worldview stems from a place of disenchanted realism.They experienced too much,t
61、oo young,from the ravages of the Great Recession to COVID-19 and spasms of social unrest.You can call them cynics,or even nihilists,but theyll tell you theyre just realistic about the future,having seen the failures of government,business,and religious institutions.Theyre less interested in buying c
62、ars or homes,at least for now.Theyre also losing faith in traditional 9-to-5 jobs,in part due to tough job losses during the pandemic.According to the Pew Research Center,half of GenZers surveyed reported that someone in their household lost a job or took a pay cut due to the pandemic.GenZ had an un
63、employment rate nearly twice as high as that of other generations in almost every OECD country at the end of 2020.But while it might be tempting to wallow in disenchantment,GenZers have moved to a positive and constructive view of the world.Theyve reconciled themselves to the constraints of imperfec
64、tion and,rather than being overwhelmed by those limitations,are focused on making meaning and finding joy for themselves on their own terms in an imperfect world.They aim to“live their best lives”and enjoy the here and now,for as long as it lasts.Mortgages are out,YOLO is inGenZers are convinced the
65、 traditional roads to success and happiness are not working for them.They are more affected than other generations by what can sometimes be a toxic“hustle culture,”the pressure to be productive at all times.In the United States,many dont expect to receive Social Security retirement benefits.In the U
66、nited Kingdom,the evidence suggests younger people will be poorer overall than their parents generation.That is a historic shift.Despite this,GenZers are just as optimistic as other generations.Part of that is living in the moment:This generation is 44%more likely to agree that when youre young,its
67、better to enjoy life than work hard,according to 2022 Collage Group research.Research from the Reuters Institute at Oxford University suggests that younger people are“net optimistic.”But they also seek other“Were risk takers.Before us,people were just following the previous generations path:You go t
68、o school,you get a job,then you retire.Im actively doing something that they werent doing at my age.They see me making money.But they still wont open their minds and still say,Oh,she should go back to school.”21,autorepair,she/her,New York15A-Gen-Z Report|Who they areoptions beyond the traditional,a
69、nd are open to radically re-imagining their lives.They are 53%more likely to be interested in pursuing an unconventional career path,and 57%more likely to agree that they do not mind bending the rules.Theyre believers not only in YOLO(you only live once)but also YDY you do you.This mantra reflects t
70、heir desire to express themselves,without judgment or repercussions,and their drive to blaze their own life paths.It also reveals how members of this generation view gender and sexuality.They believe the future is nonbinary and that the day will come when gender stereotypes and norms at work and in
71、the products and services they buy will disappear.The commodified self and its discontentsAs the first generation to come of age on social media,GenZers have had a uniquely up-close-and-personal view of the artifice and raw commercialism involved in constructing a media-friendly and marketable versi
72、on of themselves.Makeup tutorials,shopping hauls,and plastic surgery confessionals may have existed in some form before.But the intimate,behind-the-scenes tone of YouTube and TikTok have gone further,bringing down the wall of illusion separating celebrities and the beautiful people from the rest of
73、us.Social media highlighted and clarified that,with enough money and modifications,anyone can make a living off their physical image.And some of those whove done so will further capitalize on this trend by creating content to encourage their followers to walk in their footsteps,and by launching a li
74、ne of products to help them do so.Gen Z has the bleakest outlook for retirement relative to their idealWhat is your ideal and expected retirement age?Mean of responses,US and UK data,by generationSource:Oliver Wyman Forum Global Consumer Sentiment Survey,September 2020present,N=2,119 Gen Z+11%Millen
75、nials+9%Gen X+5%Boomers+2%Silent Generation+2%Ideal|Expected|505560657016While this phenomenon unfolded with GenZers as its central players(and with Kylie Jenner perhaps epitomizing it),it also created a backlash that has served to shape this generations aesthetics and self-perception.Slaying gender
76、 roles and subverting the status quoThis generation rejects restrictive labels and embraces fluidity like none before.From sexuality to fashion,they refuse to be stereotyped:In the United States and the United Kingdom today,one in five GenZers identifies as non-heterosexual.And more than one in 10 i
77、dentifies as non-cisgender.GenZers are more open to nonbinary ideas of gender and sexuality even when isolating for political affiliation.For instance,GenZ Republicans are only 19%less likely than GenZ Democrats to believe diversity and inclusion is an important issue,versus a gap of 39%for millenni
78、als and a gap of 86%for Gen X and baby boomers combined.Their fluid perceptions of identity are fueling the trend toward genderless fashion.GenZers are 78%more likely than other generations to be comfortable wearing clothing that is either gender-neutral or traditionally meant for the opposite gende
79、r.In this spirit,the controversial GenZ pop superstar Lil Nas X was recently named an Ambassador of YSL Beauty.Rejecting the#filtered life to BeRealLike earlier generations of teens and twentysomethings,many GenZers arent happy with their looks GenZers are 16%less likely than other generations to be
80、 satisfied with their face and body.Whats different is that rather than focusing on“fixing”whatever they dont like about themselves,GenZers push back against the norms that drive those feelings,and the societal mechanisms that reproduce them.In their digital lives,they reject the heavily Photoshoppe
81、d personas favored by millennials and instead embrace alt-profiles or“finstas”(fake Instagram accounts,privy to a select few followers).Theyre vibing on apps like BeReal,which gives users a random two-minute window each day to share a spontaneous,unfiltered photo with friends that disappears in 24 h
82、ours an app that millions use daily.GenZers also hold businesses to the same standards Gen Z are less polarized on gender and sexuality Source:Oliver Wyman Forum Global Consumer Sentiment Survey,September 2020present,N=610 Gen Z Republicans are 150%more likely than non-Gen Z Republicans to believe t
83、hat traditional gender norms and roles are outdated.150%17A-Gen-Z Report|Who they areof authenticity,rejecting beauty brands hyper-polished ads for images that dont edit flaws and imperfections.One-third of GenZers believe brands should be required to disclose any photoshopping or airbrushing of cel
84、ebrities or models.But the search for individual style has also led to overconsumption:GenZers are 2.6 times more likely to buy clothing on a weekly basis than other generations,despite their commitment to environmental sustainability.Such paradoxes demonstrate that for all their beyond-their-years
85、wisdom,GenZers are still figuring out how best to navigate the tensions that can arise when some of their core values clash.Any company that can help resolve this conflict stands to win big with GenZ.A new era of authenticity Captivating Gen Z customers with#nofilter marketing.1 Gen Zers are experts
86、 at sniffing out inauthenticity,and theyre holding businesses to a new standard.If brands dont adapt,theyll lose Gen Zs interest,or even worse theyll be written off as cringe.In this landscape,few celebrities have captured Gen Zs attention like Doja Cat.So when she announced a partnership with speak
87、er brand JBL,it was no surprise that she took to TikTok to do so.The video is short only 15 seconds and features Doja Cat filming herself up close.She holds up a bedazzled JBL speaker,says“Jibble,jibble,jibble,”and then opens her mouth to receive a forkful of food.The video has almost six million li
88、kes.Along with Doja Cat toting the same bedazzled speaker onto the Grammys red carpet,the“Jibble”TikTok generated two years worth of social engagement in two days for JBL.JBL chalked this success up to Doja Cats creative freedom with their partnership,allowing her to connect with her fans in a genui
89、ne way.It didnt feel like she was selling a product she was being herself.Gen Z felt that and welcomed it,even if Doja Cat wasnt even pronouncing the name of the speaker correctly.Her TikTok audience loved it.So let this be a lesson to brands:Dont market to Gen Z in the same way you market to everyo
90、ne else.The unfiltered,messy content might just be exactly what Gen Z wants.1 Jeff Beer,“Jibble,jibble!Why Doja Cat is the new model for celebrity brand-partnership success,”Fast Company,Aug 1,2022.A-Gen-Z Case Study18Theyre spiritual,but are ghosting organized religionWhile they may believe in a hi
91、gher power or cosmic force,GenZers are the least religious generation yet.They are 29%less likely than older generations to identify with Christianity and 25%less likely to believe organized religion fosters a sense of community.The scandals in the Catholic and evangelical churches probably contribu
92、te to their disillusionment;so do their demands for conformity.However,there are also important differences by country:US GenZers are 24%less likely to identify with organized religion than other generations(including Christianity,Judaism,Islam,and other organized religions),whereas UK GenZers are o
93、nly 13%less likely to do so.Spiritual,but not religious Gen Zers are#manifesting on TikTok Select all the statements that you agree with.%respondents selected.US and UK data,asked to Gen Z and non-Gen Z Source:Oliver Wyman Forum Global Consumer Sentiment Survey,September 2020present,N=2,119 non-Gen
94、ZGen ZCommon religious doctrine I believe in God and/or religious deities I believe in life after death Spiritual practices I say positive affirmationsto myself I believe in the power of manifestation Astrology has helped me betterunderstand myself and others in ameaningful way I have a consistent s
95、piritual practice(such as chanting,yoga)0%5%10%15%20%25%30%35%0%5%10%15%20%25%30%35%Gen Zers are more likely to engage in spiritual practices such as manifestation,positive affirmations,and astrology Gen Zers are less likely to believe in common religious doctrine,such as religious deities or life a
96、fter death-23%-23%+27%+138%+83%+17%19A-Gen-Z Report|Who they areThis does not mean that GenZers reject spiritual matters;rather,finding spirituality and meaning has become a more personalized pursuit thats increasingly conducted online.Instead of going to a church,synagogue,mosque,or temple,GenZers
97、identify with traditions from different belief systems and incorporate them into their own experiences.They build personalized tenets of faith instead of subscribing to what has been given to them.What businesses can doAddressing this generations perceptions about identity isnt as simple as includin
98、g pronouns in email signatures.Its about understanding GenZers differences and supporting them in all parts of the business.Companies that get the employee and customer experience right have a leg up with a generation that no longer buys into the traditional concepts of self-expression.So where shou
99、ld businesses start?Recognize and normalize their individualism.Businesses need to respect GenZers fluid perspective on gender and identity.But rather than think of it merely as new boxes to check,they should understand that its part of a broad spectrum of expressions.In the workplace,employers must
100、 understand the signifiers of inclusivity that GenZers expect not only at the leadership level,but cascaded down to each manager.And GenZers want employers to be on the same page as they are about bathrooms and pronouns,in the office and elsewhere.GenZers want inclusivity to be so normalized that no
101、 one needs to discuss it.Serve them a communal online experience.GenZs online persona is about more than just memes and clapbacks.Online is where they find their tribe,interact with the world,and select the parts they like to incorporate into their own lives.Businesses should understand that GenZ us
102、es these digital destinations as personalized portals for interactions and discoveries and they should aim to provide them something of value.Capitalize on GenZs nontraditional search for breakthrough opportunities.GenZers expect less from traditional paths,but they seek new options for fulfillment
103、that are unique to each individual.Businesses have an opportunity to help GenZers find their own path by tailoring solutions to their personal interests and as other sections of this report illuminate,this has major implications for how organizations treat GenZ employees and customers.20A-Gen-Z Crea
104、torSade FramnessSade Framness(they/them)is a 25 year old living in New York who began creating content in July 2020.Sade started their TikTok to try and find a community while being unemployed due to the pandemic.Sade quickly found a passion for creating content and providing a safe space for the LG
105、BTQ+community and strives to help build a community for those who might not have one at home.Sade struggled a lot with figuring out their own gender and sexuality and now that they are confident in who they are they want to help those who also might be struggling.They dont want anyone to ever feel l
106、ike they are alone.21sframClick or scan to visit Sade2223GenZers are fundamentally shifting the norms around how,when,and where information is consumed and understood.They are blurring the boundaries between entertainment,news,commerce,and other categories.They gravitate to hyper-personalized social
107、 media and infotainment,making it their primary source for news,information,and shopping.Despite having low trust in the accuracy of this information,GenZers prioritize social medias familiar faces,entertaining content,and gratifying engagement model over the incremental credibility they believe the
108、y would get from traditional media sources and search engines.In doing so,they risk creating echo chambers for mis-and disinformation,despite being well-attuned to those concerns.How did we get here?And where are we headed?Goodbye Network News,Hello Mr.Beast60%of Gen Zers go to social media for info
109、rmation slightly more than the internet and double print or digital newspapers and magazines22%of Gen Zers trust social media“highly,”yet it is ranked second in platform loyalty2in3 Gen Zers favor social media for its content delivery,often at the expense of quality and accuracy 2x Gen Zers are almo
110、st twice as likely as non-Gen Zers to use another source to fact-check news2xFor fact-checking,Gen Zers trust people like them twice as much as mainstream news AGenZ StatGenZers are ghosting traditional media organizations in favor of relatable creator content for better or worse24R.I.P.collective m
111、edia historyOlder generations typically grew up in a media ecosystem where information was delivered on a regular schedule,and most of the population received a good chunk of its information diet from a common set of trusted sources(think:the television evening news and the print edition of the loca
112、l paper).Fast forward to 2023.Its no secret that GenZers prefer social media platforms like YouTube,Instagram,and Snapchat.TikTok,the short-form video-based social content platform launched by Chinese technology firm ByteDance in 2017,caught on like wildfire in the United States and United Kingdom i
113、n 2020 during the COVID lockdowns.On these platforms there is no“house view”on offer,nor a blank search box that delivers only what users intentionally look for.Instead,users are presented with an ongoing feed of simultaneous and highly diverse thumbnails of video content.A user either stays for a f
114、ew seconds on a piece of content or quickly swipes past it to the next.The algorithm underlying this platform learns which types of content cause a particular user to hover longer versus swiping away,and constantly builds a more personalized flow of entertaining and engaging content to hold that use
115、rs attention for as long as possible.Everything,everywhere,all at onceIts no wonder,then,that GenZers are spending huge amounts of time engaging with social media,and that it is quickly becoming their first port-of-call not only for entertainment but also for news,shopping,social connection,and pret
116、ty much anything else one can do online.Our GenZ interviewees report that when they want to search for something,they predominantly do so via TikTok rather than a search engine.This behavioral shift has implications for businesses of all types.For those that are concerned with delivering content,rea
117、ching a GenZ consumer audience,being present where commerce is happening,building brand loyalty,disseminating accurate information,or countering false information,it is critical to understand where and how GenZers are engaging on these various fronts.“I like TikTok a little bit more because I can ta
118、ilor what I see,I can tailor the algorithm,and anything I dont want to see,I dont have to see it.”20,nursingstudent,she/her,New York25A-Gen-Z Report|Where they areAnderson Cooper,meet PewDiePieGenZers have come to rely on the personalized community and diversity of opinions on social media platforms
119、 and when news breaks,they stay on these platforms rather than consult CNN,Google,BBC,or the New York Post first.For news GenZers are 2.7 times more likely to tap social media than broadcast news,and while they might trust traditional news sources,less than a third use digital or print newspapers an
120、d magazines for information in the first place.This means mainstream media icons are not as popular among GenZ as social media influencers like Emma Chamberlain,Mr.Beast,and PewDiePie(PEW-dee-pie),a controversial Swedish YouTuber with 111 million followers who,like many others,provides rolling comme
121、ntaries on the news du jour in his daily monologues.But by choosing to use social media over traditional news sources,GenZers sometimes struggle to hack through the jungle of misinformation and fake news.And while theyve developed techniques to fact-check their information,these techniques dont make
122、 them immune to fakery.To reach GenZ,businesses must engage with this demographic on its preferred platforms,using content that is both informative and entertaining.Sound easy?Its not so simple.MostTrustedLeastTrustedTrust is not a proxy for usage Which of the following do you most commonly use to g
123、et information?Select all that apply,%respondents selected,US and UK,Gen Z versus non-Gen ZSource:Oliver Wyman Forum/The News Movement Gen Z Survey,OctoberNovember 2022,N=10,132Radio12%18%Print news10%20%Podcasts16%14%Internet56%62%Youtube45%32%Digital news19%24%Newsletters10%14%TV25%46%Blogs9%8%Soc
124、ial media57%34%Gen Z|non-Gen Z|10%20%30%40%50%60%26Loyalty without trust.Engagement over accuracy.Nearly 60%of GenZers use social media for information at least three times more than traditional news sources and nearly 1.7 times more than other generations.For news in particular,GenZers like the con
125、venience,immediate access,and diverse viewpoints available on social media.In fact,57%of GenZers strongly agree that it is more convenient to consume news on social media than it is to look it up on the internet,websites,or apps.Twitter,for example,has appealed to GenZ for its free and immediate acc
126、ess to breaking news and relevant discussion threads.Despite their loyalty and high use of social media,more than 60%of GenZers worry that short articles or videos their preferred content delivery methods do not provide the full story.And over 50%feel more susceptible to misinformation on social med
127、ia than on traditional news sources.Breaking news:firehose needs better filterContent oversaturation has led this generation to news-graze swiping from post to post and making snap decisions on what they want to pursue further.GenZers try to separate fact from fiction within this flood of content.Th
128、ey are nearly twice as likely as older generations to fact-check their news,and nearly 60%say theyve developed techniques to spot unreliable“For the Matt Hancock thing,the Brexit thing,and the party gate thing,thats where we need social media.Without social media,without paparazzi,without newspapers
129、,we wouldnt have been able to see that and hold them accountable.So sometimes social media is good.Its just got to be the right social media.”Londonor fake news.But while GenZers are proactive and aware of their susceptibility to misinformation,they are less concerned than other generations that mis
130、information is a problem(maybe because they believe they know how to deal with it),and they are imperfect in their attempts to check their sources.Case in point:GenZers who say they fact-check their news were 2.5 times more likely than other generations to generally agree with the idea that COVID-19
131、 was a hoax promoted by the government.It seems their worry about falling for misinformation and proactive employment of fact-checking methods do not necessarily make this group better armed against the(mis)information inferno.Part of the reason for this counterintuitive finding may come from the ty
132、pe of fact-27A-Gen-Z Report|Where they arechecking GenZers are doing.While they might use traditional sources to verify the information from bigger news sources,they are often relying on“social proof”methods to quickly distinguish faulty information on social media.By using comments,discussion,tone
133、of voice,and popularity as indicators of whether they are looking at the“truth,”GenZers are often allowing intuition to drive fact-checking.In the context of the sheer quantity and pace at which information is shared,GenZs techniques are worryingly insufficient to quickly judge the veracity of sourc
134、es and determine which content needs additional outside verification.“Personalized,please”Just as shoppers increasingly use Amazon as their search engine,more than 40%of GenZers start with TikTok or Instagram in their search for information.They enjoy using social media because of its content delive
135、ry specifically the user-friendliness,entertaining format,and personalized experience of both the platform and content itself.For GenZ,how the content is delivered is as important as the content.Nearly 60%of GenZers say they enjoy seeing and being offered personally relatable content on social media
136、.GenZers want to live in a world where they can be entertained and informed without being overwhelmed by the sheer amount of content they see.So,while more than 50%are worried their social media content might be too biased,less than half feel informed about news,compared with nearly 70%of other gene
137、rations.Those eager to reach this group need to understand the increasingly personalized algorithms.But it will also be a balancing act of providing authentic,relatable content to GenZ without overwhelming this information-saturated generation.The hall of mirrorsWhile earlier generations gobbled up
138、animated cartoons spoon-fed to them via television networks,GenZ grew up following YouTube videos made by creators their own age.Today,GenZers trust“people like them”two times more than mainstream news channels,and this generation gravitates most Gen Zs imperfect ability to fight misinformation of G
139、en Zers who say they fact-check their news believe at least one COVID-19 related conspiracy theory 77%Source:Oliver Wyman Forum Global Consumer Sentiment Survey,September 2020present,N=53028Preferring familiar faces.to a faultWhich of the following sources do you use?Select up to your top three%resp
140、ondents selected,US and UK,Gen Z versus non-Gen Z Relying on familiar faces for information may make Gen Zers more susceptible to the inherent biases and preconceived notions of these sources,who can reinforce their preexisting views rather than necessarily being an external,unbiased source of infor
141、mation All Gen ZGen Z-believes COVID conspiracyGen Z-does not believe Covid conspiracynon-Gen ZFriends and familySocial media groupsLocal media newsNational newsPeer-reviewed journalsGovernment entitiesSubject matter expertsSocial media influencers0%10%20%30%40%50%Gen Zers are 2x more likely to use
142、social media groups than older generations;those who believe conspiracies use these groups even more Older generations are 2x more likely to use national news channels compared with Gen Z Source:Oliver Wyman Forum Global Consumer Sentiment Survey,September 2020present,N=2,916“Everybody knows that th
143、e media has been exposed so many times over and over again of them lying to us.And I think that theyre taking advantage of our ignorance.All media is somewhat owned by a bigger corporation that just gets bigger and bigger.If all these people at the top are friends,it makes you think theyre trying to
144、 control what you see.”23,transitioningtomedschool,she/her,New York29A-Gen-Z Report|Where they aretoward familiar news sources,listing friends and family,social media groups,and local news channels as its top three sources for information.GenZers want stories for them,about them as told by those lik
145、e them.In addition,having social media content created specifically for the GenZ demographic is nearly twice as important as honest tone and style hence,the rise of influencers like PewDiePie who bring followers into their distorted-reality fields.One way businesses can leverage this preference is t
146、o work with creators themselves.GenZers prefer and expect content to continue to be delivered by influencers and creators rather than experts or company representatives.Even in the instance of extremely low trust of social media,influencers still hold nearly the same clout as content experts for Gen
147、Z.OK,but how?GenZers have clear preferences about how they want to consume information and what that information looks like.To those outside the generation,it may seem strange that even an awareness of misinformation wont convince GenZ to avoid social media,but for this group,the benefits of the pla
148、tform outweigh the drawbacks.In the age of increasingly speedy communication,the key is to be able to evolve to reach GenZ where they are,on their terms,and importantly,in an authentic manner.TikTok is the default platform for many GenZers,who are drawn to its raw authenticity.Its bread and butter i
149、s homemade,snackable videos made by people their age.To reach this generation,news organizations and companies should create visually and sonically pleasing content dripping with(authentic)personality.But to do this means first engaging in social listening exercises to understand the company image a
150、nd perception.No,you cannot simply replace all corporate identity in an attempt to seem informal.If the levity is done incorrectly,it will be immediately obvious to GenZ and will draw quick,withering criticism.“I think a lot of people are just visual and auditory learners.For me,when it comes to rea
151、ding an article,sometimes I can just skip things.Obviously,when youre trying to gain information,thats not a good idea.Videos are more interesting,more immersive.”24,customerexperienceintech,she/her,Texas,US30What is meant by content delivery?Select up to your top three reasons Gen Z onlyThe allure
152、of social media What do you like most about social media?Select up to your top two reasons%respondents selected,US and UK,Gen Z versus non-Gen Z Gen Znon-Gen ZGen Znon-Gen ZBrand name22%22%Tone and style24%16%Topics and types of content27%25%Quality and accuracy43%51%Content Delivery68%64%Source:Oli
153、ver Wyman Forum/The News Movement Gen Z Survey,OctoberNovember 2022,N=2,548User friendlyEntertainingPersonalizedMulti-platformConsistencyand freshnessRelatablepersonalities020%40%60%“On TikTok,theres a face attached.So,when you see that face youre like I like and see that person all the time,theyre
154、familiar and I can trust them more.”25,healthcare,she/her,Texas,US31A-Gen-Z Report|Where they areAnd its not just about the content delivery itself its about quality,too.If companies want to reach GenZ,they need to elevate niche creators who are highly educated in their topic and arm them with quali
155、ty information that can be shared in digestible fashion.Its important to note that these individuals on social media need to be uniquely qualified and relate to everyday people.These individuals can also help arm GenZ with pre-bunking techniques,amplifying ways to spot misinformation that involve mo
156、re than just the sometimes-helpful,sometimes-unhelpful false news warnings created by social media platforms.These individuals will function as a trusted,familiar,and relatable face that GenZ will believe more than corporate press releases.Finally,content should be easy to repurpose,with links embed
157、ded to help audiences navigate to more reputable sources.Consider Snapchat,which has helped news companies repurpose news stories in its“Discover”tab into short,digestible,engaging videos for users to quickly view news stories from credible news brands.Its not just the what or who,but also the how s
158、o making content digestible,entertaining,and accessible is critical to reach GenZers where they are.Businesses that dont should be prepared to lose out,because this generation simply doesnt have the time or desire to dive deeply into information unless its easily digestible.A-Gen-Z Case StudySnaps n
159、ifty newsroom:bringing GenZ credible news content via“stories”automatically repurposed from traditional news content In 2015,Snap(formerly Snapchat)introduced its“Discover”platform,which presents news stories from traditional media outlets like CNN.In 2022,Snap introduced the“Dynamic Stories”feature
160、,which uses publishers RSS feeds to automatically create stories from news publishers online content.This update helps repurpose and reshape traditional content into more Gen Z-friendly form on Snap Stories,thereby reducing the extra work previously needed by publishers to create Snap-specific conte
161、nt.The Snap Stories are enjoying major success:Today more than 70%of Gen Zers on Snap watch stories,including news stories found in the Discover tab,according to Business Insider.One way Snap helps to reduce the effects of misinformation is to allow only verified publishers and creators to appear on
162、 the Discover tab.This new feature is beneficial for both news publishers and Gen Z:It allows publishers to easily create and distribute Gen Z-friendly content,while providing Gen Zers with quicker access to credible sources in their preferred format and location.32Clodagh GriffinClodagh Griffin wor
163、ks at The News Movement the social-first media organization providing nonpartisan news and useful information on the platforms where young people gather in the millions.As a journalist in TNMs busy newsroom,Clodagh is trying her very best to help young people navigate the ever-changing world around
164、them,while also figuring it out for herself.Youll mostly find her covering topics surrounding vices like vaping,drinking,or drugs,with a sprinkle of culture and entertainment thrown in to keep things fun.A-Gen-Z CreatorclogrifffClick or scan to visit Clodagh34For a generation that was already anxiou
165、s over school shootings,climate change,an uncertain economic outlook,and by no means least peer pressure from social media,the global pandemic only added to the stress.While GenZers are more proactive about their wellbeing than any other generation,they also feel the worst.But they are willing to tr
166、y many different modalities,both mainstream and alternative,to improve both physical and mental health,and are particularly intrigued by new therapies they see trending on social media.Ever the pragmatists,they want to see the data and they particularly value the sense of control that comes from bei
167、ng able to measure and track.Destigmatizing more than just mental health,GenZers talk openly about many different issues that were once considered private or embarrassing by prior generations,from irritable bowel syndrome to acne.In particular,GenZ demands equity in healthcare by shining an Healthca
168、re As Self CareIn a world thats pushing them to the brink,GenZers have embraced healthcare and wellness services as both a locus of control and a protected space for self-nurturing1.9xas likely as other generations to struggle with mental health issues 2xas likely to go to social media for medical i
169、nformation63%more likely than other generations to discuss menstrual cycles in the workplace 2x as likely to share personal health information in exchange for guidance on how best to navigate the health system 1 in 4 wears a fitness or sleep tracker,and nearly one in five uses a food and water track
170、ing appA-Gen-Z Stat36overdue spotlight on womens health,including menstruation,fertility,and conditions such as endometriosis and polycystic ovary syndrome.To connect with this audience,providers in the health and wellness space should design experiences that feel soothing,nurturing,and affirming.Th
171、ey need to dial up the focus on data.And they should get ready to communicate a lot.When it comes to whos feeling worst,GenZ is the GOATMaybe GenZ should be known as Gen P,given how the pandemic affected their formative years and their health.While GenZ didnt experience the same levels of morbidity
172、as older generations,nearly all of todays children,teens,and young adults suffered demoralizing disruptions in family life,schooling,and relationships.On top of that,many of the oldest in GenZ spent the first two years of work in isolation,staring at a laptop from home.They are significantly more li
173、kely than older generations to report struggling with their overall and emotional wellbeing.Nearly half of GenZers say they are being treated for anxiety,depression,post-traumatic stress disorder,obsessive-compulsive disorder,or other mental health conditions versus a quarter of other generations.On
174、e reason might be the pressure they impose on themselves:As a generation that values activism and inclusivity,GenZ has higher expectations across multiple aspects of life.But more than other generations,they also feel misunderstood about their relationships and sexuality,which may feed their negativ
175、e emotions.In addition,the relentless comparison social media invites can lead to feelings of inadequacy and dissatisfaction among GenZers,contributing to struggles with mental health.While the pandemic is partly to blame,the documented rise in mental health struggles might also reflect GenZs willin
176、gness to openly discuss the topic with celebrities like Selena Gomez,Simone Biles,and Halsey leading the way in destigmatizing mental and physical health issues.More than other“We live in a constant state of stress in every sense.Were looking for ways to reduce that stress and anxiety.Health is at t
177、he forefront of that,as well as things like what we eat,what we consume,what we watch on TV,what we listen to,how many steps we take in a day,and how much we sit down.We think that will solve our intrinsic stress state.”Midlands,UK37A-Gen-Z Report|How they feelGen Z is taking an active role in manag
178、ing physical and mental health through a variety of activities and practicesWhich of the following have you regularly done to manage your health or overall well being?%respondents selected,US and UK data,Gen Z versus non-Gen Z Maintaining physical fitness Work out45%50%Pre-packaged meals/beverage pl
179、an with added nutrients5%13%Personalized supplement8%17%non-Gen Z|Gen Z|Supporting Mental HealthMeditate14%20%Use a wellness app9%20%Attend online therapy11%24%Attend therapy in person11%24%Tracking and monitoring health metrics Wear a fitness sleep tracker19%24%Use a food/water tracking app8%17%Use
180、 a digital app to monitor health8%17%Use a productivity app7%19%Source:Oliver Wyman Forum Global Consumer Sentiment Survey,September 2020present,N=2,916“When I was younger,mental health was not as widely discussed.At 16,I struggled with depression and family made it seem like it was my choice.My mom
181、 would say things like,Just go to school and you wont be depressed.I think the world is getting better at addressing mental health issues.”22,part-timestudent/bartender,she/her,New York38generations,GenZers believe“its okay to not be okay”and they see less stigma in seeking help,with 39%using in-per
182、son or online therapy services.GenZers are 41%more likely than older generations to discuss addiction.And almost half are willing to talk about mental health with their work colleagues,a topic that historically was taboo.In their maximalist eraGenZers are open-minded and experimental,willing to supp
183、lement(or replace)the medical establishment with alternative treatments like herbal or botanical medicine,energy healing,or hypnosis.Forty percent of GenZ has tried at least one form of alternative medicine,and more than two-thirds say they are willing to try herbal medicine,homeopathy,or energy hea
184、ling.Thirty-five percent say they have tried 1.9x 1/2more likely than other generations to report struggling with a mental health issueare being treated for at least one mental health issue.This is nearly double that of other generations.Gen Z breaks the silence with higher rates of self-reporting a
185、nd treatment for mental health conditions In the past two years,have you been dealing with a mental health condition,physical injury,chronic health condition,addiction,or terminal illness?%respondents selected,US and UK data,Gen Z versus non-Gen Z Gen Znon-Gen ZI have not been dealing with a mental
186、health issueAnxietyDepressionPTSDOCDOther mental health conditions35%65%42%23%39%21%17%7%12%5%9%4%Oliver Wyman Forum Global Consumer Sentiment Survey,September 2020present,N=2,91639A-Gen-Z Report|How they feelketamine therapy,nootropics,or cannabidiol(CBD).A popular treatment among members of GenZ i
187、s the art of Reiki,an energy healing technique that reduces stress and anxiety through the hovering or gentle touch of a Reiki masters hands and palms.Perhaps not surprisingly,42%say they turn to social media for health information,where TikTok influencers and YouTube“doctubers”dominate the conversa
188、tion.Just as the Silent Generation heeded the advice of Doctor Spock and boomers consulted WebMD,many GenZers listen to#doctormike,a Russian-born American family physician and professional boxer whom People magazine named the Sexiest Doctor Alive in 2015.While GenZs focus on health and holistic well
189、ness is admirable,not every aspect of this behavior is good news for the medical profession.About three-quarters of people from older generations say they turn to medical professionals for health advice but only about half of GenZers do.Fighting stigma,one reel at a time:using social media to promot
190、e mental health and shatter stereotypesDr.Jake Goodman is a psychiatry resident and mental health activist with a significant presence on social media.With more than 1.9 million followers,he uses his social media platform to fight stigma and to empower those struggling with mental health challenges
191、to seek help.On his Instagram account,he shares personal insights and experiences,including his own journey with mental health medication and being rejected by medical schools,to show his followers that they are not alone.Through informational videos,he addresses topics such as how to talk to parent
192、s about ADHD and the reality of mental health challenges such as social anxiety.By doing so,he works to change the perception of mental health.Elyse Myers is a writer,comedian,and musician who has become known for her relatable and comedic content on social media.She has been called“The Internets Be
193、st Friend”for her ability to connect with her audience of over 5 million followers with humorous stories and personal anecdotes.She is open and vulnerable about her experiences with ADHD,anxiety,and imposter syndrome in hopes that by discussing her experiences,others can feel more comfortable doing
194、the same.She uses her platform to advocate for mental health and to remind her followers that they are not alone.A-Gen-Z Case Study40Here to representGenZ has moved womens health to the forefront of the conversation,both in and out of the doctors office.They speak their minds,crushing taboos,with al
195、most a third saying they are willing to discuss menstrual cycles in the workplace,versus 19%of other generations.On TikTok,viral hashtags like#VagTok,#Endometriosis,and#Pcos have a combined 6.5 billion views bringing much-needed awareness to womens health issues that were long avoided.Thirty-eight p
196、ercent are concerned about fertility issues and 17%are interested in freezing their eggs.And GenZ wants employers to offer more assistance,with 46%believing women should have menstrual leave and 51%saying employers should provide period products.What does all of this suggest for those in the health
197、and wellness space who want to build compelling solutions and experiences for a GenZ audience?To create GenZ wellness offerings that slay,consider these must-haves:Good vibes.For GenZ,good healthcare should,first and foremost,feel good it should be inclusive,affirming,nurturing,soothing,and restorat
198、ive.GenZers crave nurturance,a respite from the worlds troubles,and experiences that are calming healthcare that feels like visiting a spa.But in this spa,you can access cutting-edge medical research and techniques,and are always fully seen,heard,and respected.Providers,take note.Facts.While they ma
199、y be experimental,GenZers are also pragmatic,skeptical,and discerning.They appreciate the good vibes but look for effective solutions backed by scientific evidence.If you arent forthcoming with that proof,you can expect to find them showing up in your comments and checking your sourcing.Gen Zers bre
200、ak down barriers and are open to discussing previously taboo topics in the workplace.Compared with other generations,Gen Z is:63%more willing to discuss menstrual cycles 41%more willing to discuss addiction20%more willing to discuss mental health 58%more willing to discuss sexism Source:Oliver Wyman
201、 Forum Global Consumer Sentiment Survey,September 2020present,N=4,04241A-Gen-Z Report|How they feelWith their love of data and their desire for something to measure and control,this generation gravitates to wearables.And more than half of GenZers say they would share wearable device data with either
202、 their health insurer,a third-party app,or retail health clinic significantly more than other generations.Nearly a quarter of GenZ said they are willing to share health information in exchange for significantly cheaper prices.The option to slide into your DMs.Doctors,GenZ is ready to see you now,and
203、 would also like to talk again in a few days.Ideally by text or video chat.Do you direct message(DM)?GenZers expect their doctors,nurses,and therapists to be available online and accessible without the interminable waits their parents and grandparents endured.They also value more of a dialogue and w
204、ant to stay in closer touch between office visits,whether that means messaging back and forth frequently through a practice-specific portal,receiving a prompt call back after they text a physicians personal phone number,or hopping on a video call to discuss test results.From a providers standpoint,t
205、his higher level of engagement may be desirable given that GenZers are at the moment disproportionately getting their advice from sources other than their doctor.Providers may benefit from staying abreast of health-related topics trending on social media in order to address them proactively or be re
206、ady to discuss if asked.“I like Zocdoc because it makes everything much easier.I can enter my insurance information and it will show me a list of doctors covered by my plan.I can easily make an appointment.”23,salesdirector,she/hers,New York42XavierAt 25,Xavier is a TikTok boss,sharing fashion-forwa
207、rd videos and life advice that help young adults kill it at work and school.Whether youre looking for tips on how to dress for success or advice on how to manage your career,Xavier has you covered.And with his passion for fashion,youll always be in the know when it comes to the latest trends.A-Gen-Z
208、 Creatorxavier.clbClick or scan to visit Xavier44From the Civil Rights movement to the Vietnam War and Occupy Wall Street,young people have often led the charge for change.So it is with GenZers,who are throwing their angst,idealism,and ingenuity into the fights for climate justice,LGBTQ+rights,gende
209、r and racial equality,and more.What do a Nobel Peace Prize Laureate,Times youngest Person of the Year,and two game-changing high school students an ocean apart have in common?Afghan education activist Malala Yousafzai,American gun rights activist David Hogg of Stoneman Douglas High School in Florida
210、,British“period poverty”fighter Amika George,and Swedish climate activist Greta Thunberg symbolize GenZs impatience with the status quo.This generation is kicking down the door and demanding a seat at the table;in November,Maxwell Alejandro Frost was the first member of GenZ elected to the US Congre
211、ss,at age 25.Like previous generations of protestors,GenZers distrust government(42%)and believe businesses need to step into the breach.But todays GenZ activists are Small collective steps for GenZ can lead to one giant leap for humankindThe Change Generation92%more likely than other generations to
212、 protest2xas likely to think collective action would enable them to be more engaged32%engage in issues through social media(68%more than other generations)1in5 would switch brands if the brand had an opposing stance on issues 21%would consider other jobs if employer is not engaged in social issuesA-
213、Gen-Z Stat46getting a jump on earlier generations,not waiting for their arrival on college campuses,but starting their campaigns earlier and online.Baby boomers sometimes deride GenZers and their online petitioning as Power Point activism or,worse,#slacktavism the delusion that changing a profile pi
214、c and retweeting a sentiment or trending hashtag is a substitute for boots on the ground.To which GenZ says:This aint it,chief.Social media is becoming the go-to vehicle for achieving change and GenZers are in the drivers seat.They are 68%more likely than other generations to engage in issues they c
215、are about through social media and are over twice as likely to say it has shaped their beliefs on issues.One thing is for sure:Social media is more effective at mobilizing the masses than stapling fliers to telephone poles.While the civil rights movement needed years to lay the foundation for the Ma
216、rch on Washington,Greta Thunberg needed just 16 months on the Internet to motivate 4 million people to join a climate change strike on Sept.20,2019 the largest climate demonstration in history.In the United States,this kind of online activism helped generate record youth turnout in the 2020 election
217、,when 53%of eligible young voters cast ballots nearly a 10-point jump from 2016.Pundits said GenZ turnout spelled the difference in Joe Bidens taking the White House.In the United Kingdom,when Sarah Everard was murdered by a police officer,social media activity driven by GenZers created a movement t
218、hat led to real-world demonstrations and a fundamental change in the tenor of the conversation around womens safety.The usual voices were not in charge.GenZers are adept at mobilizing online,but digital activism isnt perfect by any means and can be downright ineffective if not Gen Znon-Gen ZFrom lik
219、es to activism:Gen Zers are leveraging social media for social change%respondents selected,US and UK data,Gen Z versus non-Gen ZSource:Oliver Wyman Forum Global Consumer Sentiment Survey,September 2020present,N=4,042Gen Zers are 68%more likely to engage in issues through social media Gen Zers are mo
220、re than twice as likely to say social media have shaped their beliefs on issues Social media shaped your personal beliefs on the issues you care about32%19%Used social media to enagage on issues you care about41%19%47A-Gen-Z Report|What they care aboutused correctly.During the Black Lives Matter mov
221、ement,digital activists were eager to share information of protests and help spread awareness to increase engagement.But when it came to#BlackOutTuesday,users began posting black squares,which werent as effective as the informational posts that used to appear.Work matters,but the world matters more.
222、With many activist icons to relate to,and pressing climate and other threats bearing down on them,GenZers are more likely than other generations to believe in the power of individuals to make a difference.And they have all but given up waiting for established institutions to solve the existential ch
223、allenges of our times.GenZers faith in government is waning;they are 39%more likely to trust their employers than the government.They also think one of the biggest ways to make change is from the inside,by working for those same companies.Nearly 40%of GenZ say the No.1 factor that would increase eng
224、agement in issues is more professional opportunities such as rotations at companies on social impact-related teams.If employers dont share similar stances on issues or do not engage in them,GenZers are When hashtag activism misfires:why activists said dont misuse the#BlackLivesMatter tag Unleashing
225、the power of#hashtags When users post an image with a hashtag it gets automatically added to a searchable feed,which people can find using that tag The OG goal of#BlackLivesMatter At first,most posts tagged#BlackLivesMatter were related to protests and helped spread awareness as well as increase eng
226、agementWhy#BlackoutTuesday fell flat:A lesson in hashtag activism#BlackoutTuesday encouraged people to post black squares.Afterward,when people searched#BlackLivesMatter related posts,it was no longer videos,helpful information,or resources it was rows of black screens.A-Gen-Z Case Study48more likel
227、y than other generations to look elsewhere for jobs that better align with their values.In cases where the company doesnt“connect,”young employees are likelier to be less engaged at work and to attend fewer work events.In particular,GenZers are engaged on the issues of healthcare,criminal justice la
228、ws,diversity,gun rights,and climate change and will look for other jobs if their employers dont align with their views,regardless of whether these issues are part of the core business.In the United States,gun rights is a more divided topic than other top issues,with the most balanced spread between
229、Democrats(42%)and Republicans(38%)selecting it.As a result,implications are complex for businesses as they risk alienating a sizeable group unless they take a sophisticated approach to engaging this new,dynamic workforce.Always-on activismFor GenZers,activism spills into all aspects of daily life,af
230、fecting decisions on everything from whether to bike to work to where to invest.One in five GenZers say they would buy a different brand from their favorite if they found out the brand had a stance against the global issues they care about.“Every year,companies put up the little rainbow filter on Ju
231、ne 1st and then take it away July 1st and thats it.They dont do anything else,just the little filter every single year.”23,part-timeinstructor/onlineclothingseller,she/her,New York75%more likely to consider other jobs that better align with their values 80%more likely to be less engaged at work in d
232、ay-to-day activities 45%more likely to go to fewer work eventsThe Change Generation extends activism to the workplace If their employers are not engaged in social issues Gen Zers are.Employers need to change their activism playbook,or risk losing Gen Z talent and engagementSource:Oliver Wyman Forum
233、Global Consumer Sentiment Survey,September 2020present,N=4,04249A-Gen-Z Report|What they care aboutTo get the W(the win)with this generation,employers and brands must connect with their values and mindset.It requires careful execution,however.GenZers will not hesitate to put companies on blast for w
234、hat they consider to be performative activism.And sometimes companies that put the spotlight on themselves invite more scrutiny than they bargained for.When candymaker Skittles turned its treats white in 2017 to allow“prides rainbow to take center stage,”the brand was dragged for lacking diversity i
235、n its ranks.Constrained by circumstances but primed for changeGenZers talk green,vote green,and want to work at green companies,but are still spearheading the demand for fast fashion the practice popularized by Zara,H&M,and Shein of cranking out cheap,trendy,and disposable clothing quickly.It turns
236、out that price is a pivotal factor;40%of GenZ report that sustainable fashion is too expensive,which makes fast fashion an appealing alternative.Most of them prioritize affordability(69%)and comfort(69%)when purchasing clothing.Although GenZs awareness of issues such as climate change is higher than
237、 other generations,life GenZ keeps it real:The rise of authentic activism Inauthentic:Skittles Campaign:“Give the Rainbow”In 2017,the candy producer turned its candy white to allow“prides rainbow to take center stage.”The idea was to remove its signature rainbow design from packaging and the color f
238、rom its candies to recognize LGBTQ+Pride Month.Outcome:The move was widely criticized because of perceptions that it was shallow and that the company failed to reflect racial diversity within the LGBTQ+community.Authentic:Absolut Campaign:“Rainbow Bottle”The signature Absolut Rainbow Bottle has been
239、 around since 2008(the year of the pride flags 30th anniversary).Absolut collaborated with artist and activist Gilbert Baker,the designer of the original pride rainbow flag,to create a lasting LGBTQ+friendly symbol on its bottle and it became a permanent fixture for the pride flags 40th birthday.Out
240、come:Through Absoluts endorsements,it has built trust from the ground up with the LGBTQ+community.A-Gen-Z Case Study50stage-related constraints such as being less financially stable are creating a disconnect between intent and action.Some members might not trust the sustainability claims in the firs
241、t place.GenZers may be limited financially,but they possess essential qualities that make them well-suited to lead social change.They are more likely than other generations,for example,to understand the effectiveness of small actions such as recycling to slow the impact of climate change.As they gro
242、w and overcome their financial constraints,GenZers are uniquely positioned to make a significant impact on the world.What companies can doBusiness leaders need to engage with GenZ not only as customers and employees,but also as fellow stakeholders in the most important social,environmental,political
243、,and economic issues affecting humanity.Most businesses are already a step(or three)behind GenZ on the digital front,and many have struggled to display their activism in a way that seems authentic and credible.When businesses fail at this,they fail big.The consequences for missteps are swift.GenZers
244、 dont just want products and workplaces that reflect their values they demand them.Its a tiny needle to thread.Companies that dont understand the shifts underway,and decide which hot-button issues they should play a role in,risk losing the next generation.And as GenZ becomes more financially powerfu
245、l,the stakes will only grow.But at the same time,mistrust in government among GenZ is creating an opportunity for businesses to drive revenue growth and employee retention by taking a leadership role in the issues that matter most.Here are five ways they can start.Offer more opportunities related to
246、 social impact.Nearly two in five GenZers say having professional opportunities to affect critical issues will make them more engaged in all aspects of work life,from reducing employee turnover to increasing engagement in day-to-day work activities and attendance at work events.GenZers cherish oppor
247、tunities as employees to support grassroots environmental organizations,such as Patagonias Employee Internship Program,in which employees can volunteer through an externship with a social impact-related organization of their choice while receiving their usual compensation.But while such opportunitie
248、s“I couldnt protest but I shared donation links and people responded to me that they donated.”23,studentcoordinator/dogwalker,he/him,New York51A-Gen-Z Report|What they care aboutare the gold standard,even small internal actions by employers can make a difference.The UK-based broadcaster ITV won a Gl
249、obal Good Award for its“sustainability at home”project,involving colleagues in how to reduce the environmental impact of working from home.Colleagues were invited to events and involved in policymaking,leading to high“GenZ-style”engagement.Use social media to show,not tell.By providing concrete evid
250、ence of real-world actions to address social issues,companies can show they are committed to making a positive impact and encourage others to follow their lead and provide the receipts to back them up.In times of crisis,meanwhile,companies can shift their social media focus from business as usual to
251、 address issues at hand.For example,after the Uvalde,Texas elementary school shooting,the New York Yankees and Tampa Bay Rays used their social media platforms to share information about gun violence and show their support,rather than continuing to promote their games as usual.This demonstrates a se
252、nse of responsibility and compassion for the community and can help to build trust and strengthen the companys reputation.Provide clear labels and sustainability information.GenZ consumers may not have a lot of disposable income,but they still want to make a positive impact on climate change through
253、 their purchasing decisions.While lowering prices may not be an option for companies,there are other ways they can encourage sustainable purchases.For example,providing clearer labels and more information about a products environmental impact can be effective in driving sustainable purchases.In fact
254、,31%of GenZ consumers say they would buy more sustainable goods if they had clearer labels,and 29%say they would purchase sustainable goods if there were greater information on the products climate impact.Match those donations.Matching employee donations is one way GenZers say employers can do more.
255、More than 40%say they want employers to donate money or match their own contributions,11 percentage points greater than other generations.Consider naming a chief purpose officer.A growing number of businesses now have a dedicated C-suite leader overseeing purpose or sustainability.GenZers are more l
256、ikely to consider buying from,working at,engaging productively with,and investing with companies whose missions align with their beliefs and values.Purpose-driven companies have experienced higher market share and growth than their competitors,and GenZ are likely to accelerate that trend.52GenZers l
257、ove it and hate it but they are learning how to navigateMoney:A Complicated Situationship52%worry about their financial security and stability,more than double older generations 1/2of Gen Z cryptocurrency investors identify as female,making this the most gender-inclusive cohort in investing history4
258、2%say“money is a necessary evil to function in a capitalist world”44%of eligible Gen Zers(1825)already own a credit card43%say physical bank branches are important to them because they provide“peace of mind”A-Gen-Z StatGenZers are feeling the money squeeze.More than half say they worry about their f
259、inancial stability,and they are 1.4 times likelier to report that“money stresses me out”than previous generations.And who can blame them,after watching older generations struggle though the Great Recession?But GenZers are managing personal finance the way they navigate many things in life by crowdso
260、urcing tips,tricks,and tutorials from one another online.Social media stokes their enthusiasm and helps democratize personal finance,enabling GenZers to be the most“financially included”generation to date.Social media is also a place where misinformation and misunderstanding abound.This information
261、asymmetry is heightened because traditional financial 54institutions dont typically frequent the social media platforms where GenZers turn for help.Their absence,coupled with the generations willingness to seek assistance,is creating plenty of opportunities for agile and forward-looking businesses t
262、o gain a foothold.Underprepared,but highly self-awareGenZers understand the importance of personal finance but are uncertain and anxious about what to do.They are frank about what they know and dont know.Compared with older generations,they are 63%more likely to report they feel“overwhelmed by my pe
263、rsonal finances”and 59%likelier to say they“know next to nothing about personal finance.”It is against this backdrop that we see the rise of social media and its droves of finance influencers who claim to have figured it all out.A new generation of investorsPerhaps no category of personal finance cr
264、ystalizes GenZ attitudes toward money more than investing.They are 1.8 times more likely than older generations to cite social media as the impetus for investing.They are also more likely to point to nonfinancial factors such as boredom,novelty,and community as motivators than to financial factors s
265、uch as job loss or the need for supplementary income.It is not purely about profits;they seek to have fun while making friends and,potentially,money.Voraciously consuming and creating personal finance content,GenZers are both democratizing personal finance information and demystifying investing.They
266、 invest at a higher rate and younger age than previous generations.Compared with millennials,GenZers are 45%more likely to start investing by age 21,according to research from Oliver Wyman and Zeldis Research Associates,continuing a pattern in which each subsequent generation invests more by populat
267、ion and money than the previous.In the United Kingdom,a 2021 poll by Nationwide suggested that nine out of 10 GenZers were investors or considering it.GenZs participation in investing also marks a demographic shift toward greater gender and racial diversity.Two decades ago,36%of white households rep
268、orted owning stock,compared with less than 10%of Black and Hispanic households,according to a 2000 study by the Social Security Administration.Today,the investing cohort of GenZ investors in the United States and the United Kingdom has 60%more Black and Asian representation.This broader participatio
269、n extends to alternative investments.In the United States,Black and Hispanic GenZers are 1.7 and 1.4 times more likely,respectively,to invest in cryptocurrency than their older counterparts.They are also breaking gender barriers:GenZ women are 1.5 times more likely to invest in cryptocurrency than o
270、lder generations.This marks a historic demographic shift in the investing world 50%of GenZ crypto-investors self-identify as female,compared with only 37%of those in older generations.55A-Gen-Z Report|What theyre doing financiallyThis greater diversity in demographics begets a multitude of consumer
271、perspectives and different financial needs.Forward-thinking institutions will recognize the opportunity to create products and services that cater more directly to these needs.Navigating the information minefieldSocial media is a treasure trove of entertainment,connection,and most saliently,informat
272、ion.But levels of expertise and training vary.Nick Meyer,for example,is a certified financial planner and professional tax adviser who has built a large online following.Tori Dunlap took a different path.After topping$100,000 in savings at age 25,she quit her marketing job and founded a multimillion
273、-dollar financial education company with a feminist mantra of“fighting the patriarchy by making you rich.”The challenge for GenZers is to differentiate good advice from bad.Many lack finance Most popular UK banks were not on TikTok as of December 2022Source:Oliver Wyman Forum/The News Movement Gen Z
274、 Survey,OctoberNovember 2022,N=7,050,Oliver Wyman Analysis1Santander UKYesYesNo,200 Likes2Barclays BankYesNoNo3Lloyds BankNoNoNo4HSBCNoNoNo5Nationwide BuildingSocietyYesNoNo6HalifaxNoNoNoBankTikTok account TikTok contentTikTok presence7NatWestYesYesYes:116k likes8MonzoYesYesYes:860k likes9TSBNoNoNo1
275、0Royal Bank ofScotland(RBS)YesYesYes:61k likes56experience and knowledge.Nearly half learn investing basics and about a third learn advanced financial strategies via social media.This can be problematic because social media platforms tend to promote and reward fiction alongside fact.For example,one
276、social media influencer with an audience of more than 60 million people issues predictions based on correlations between planetary cycles and cryptocurrency markets.Astrology-based investing isnt new but now such soothsayers have the ability to reach millions.GenZers who have turned to social media
277、for financial advice have experienced both positive and negative financial effects.Thirty percent of GenZ investors twice the rate of older generations report buying stocks recommended by social media investing communities such as those found on Reddit.Some of these recommendations have undoubtedly
278、worked out for the better.Nearly half of GenZers who have taken stock recommendations from social media report they have lost money or been negatively impacted.This ecosystem with GenZs clear need for accurate,credible information is ripe for innovation from new and established players alike.The sit
279、uationship with moneyIt might be tempting to ridicule GenZers for embracing new or untested ideas.But to judge GenZers and their actions through a strictly financial lens is to disregard their unique motivations and beliefs about money.For instance,while more than 40%of GenZers believe“money is a ne
280、cessary evil Most popular US banks were not on TikTok as of December 2022Source:Oliver Wyman Forum/The News Movement Gen Z Survey,OctoberNovember 2022,N=7,050,Oliver Wyman Analysis 1ChaseNoNoNo2Bank of AmericaYesNoNo3ChimeYesYesYes:2.0M likes4Wells FargoYesNoNo5PNC BankYesNoNo6Capital OneNoNoNoBankT
281、ikTok account TikTok contentTikTok presence57A-Gen-Z Report|What theyre doing financiallyto function in a capitalist world,”almost half simultaneously acknowledge they enjoy spending on things that bring them joy.In other words,GenZers are pragmatic enough to recognize that they want,need,and enjoy
282、money,but wise enough to recognize that it is not the be-all and end-all.As one 24-year-old respondent said:“Success is happiness and not having to worry about money.”For many GenZers,unlike older generations,money is a means rather than an end in itself.Consider their approach to nonfungible tokens
283、(NFTs).GenZers,unlike any other cohort,say they are more interested in the artistic value of NFTs than in flipping them for a profit.GenZers have both personal and nonfinancial considerations that influence how and why they invest their money.Perhaps these nonfinancial motivations explain why GenZer
284、s show a propensity for investing in cryptocurrency while still being skeptical of it.GenZers are only marginally more likely to agree that“the future of money is in cryptocurrency”and nearly a third do not intend to invest long-term.Yet despite these views and despite the“crypto winter”that began l
285、ast year GenZers still plan to invest more in the asset class.Data collected in late 2022 show that more than half of GenZers plan to increase their holdings in the next 12 months.Notably,comparing data from December 2021(considered“pre-crypto crash”)and November 2022 shows that cryptocurrency owner
286、ship among this generation did not change meaningfully.Products for the financially anxiousThey witnessed their parents struggle through the 2008 financial crisis and the recent pandemic.Now,when it comes to their finances,GenZers prioritize security and stability above all else.(Maximizing their ea
287、rnings and learning about finances are the second and third most important areas of financial wellness,respectively.)The percentage of GenZers who use financial products or services whose primary functions are to prepare and protect(such as insurance,financial advisers,job recruiters,or even savings
288、 accounts)is strikingly low for now.GenZs income is expected to increase dramatically in the next few years,surpassing millennials within a decade.GenZ is poised to“age into”the traditional“My generation,we know how to get money.My side hustles,my friends put me on to those,I learn from my friends.”
289、19,studyingforlaborcert,he/him,Texas,US58products and services they currently do not use,especially as their needs and incomes grow.But that isnt guaranteed.Compared with non-GenZers of the same personal income,high-earning GenZers in the United States are 3.6 times less likely to employ the service
290、s of a financial adviser.The situation is largely the same in the United Kingdom,where 17%of high-earning non-GenZers employ these services,compared with 6%of GenZ.This suggests there is a disconnect between what GenZ says it wants,what financial institutions are offering,and how these products and
291、services are being marketed and understood.There is also an opportunity for businesses that can tap into the GenZ mindset.How to show up for GenZHere are four ways financial services firms can meet GenZers where they are and build relationships for the long term.Retool product offerings.In the Unite
292、d States,about half of GenZers use credit cards,compared with only about a third of millennials when they were the same age,according to data from Bankrate.In the United Kingdom,GenZ credit card usage is lower,at 36%.In both places,however,GenZers are exercising more caution with debt balances;only
293、13%of US and UK GenZers said they carried a balance on their credit cards in the last 12 months,versus 22%for older generations.GenZers are young,so it is unsurprising that they are 2.6 times more likely to pay late fees and overdraft fees,and 1.6 times more likely to take out cash advances.However,
294、this is not necessarily due to an inability to pay.Some GenZers attribute this to misunderstanding and the convoluted banking experience,which can be fraught with jargon.New entrants such as neobanks cater to GenZers unique needs and engagement preferences,offering a user-friendly digital interface
295、with innovative features and low-or no-cost transaction products like secured credit cards that help young people build credit.Get social.In the United States,five of the six most popular banks among GenZers do not have a social media presence,defined as having a verified account,at least one posted
296、 video,and an audience of at least 1,000.In the United Kingdom,seven of the 10 most popular banks lack a social media presence.Their absence might feel like a snub to GenZ and could be taken as a signal that traditional firms are indifferent to their preferences.Sending this message could cause irre
297、parable damage.GenZs predecessors,the young millennials(ages 26 32),have on average kept the same checking account for nine years,according to Bankrate.If this“stickiness”exists among GenZ,this could allow neobanks to capture more market share and even displace incumbent banks as the next generation
298、s primary providers.So what can be done?Show up for GenZ and participate authentically on the platforms where they congregate.And remember making a social media account without regularly posting content does not count.59A-Gen-Z Report|What theyre doing financiallyEmphasize trust.GenZers still value
299、traditional,established financial institutions.Nearly half say they“trust banks to look after my long-term financial wellbeing,”almost as many as older generations.And to dispel the stereotype of the anarchist GenZ crypto-investor:only 12%of GenZ crypto-investors said they want to avoid traditional
300、banks,while 14%distrust the government-similar to the rates of non-GenZers.These findings challenge the notion that GenZers indiscriminately prefer novel and digital-only experiences.Embrace diversity by listening.One of GenZs most important qualities is its diversity.Successful businesses in the fu
301、ture will connect with this heterogenous generation and listen to their varied wants and needs.Catering to GenZ could encompass anything from making it easier to enroll in automatic payments to avoid late fees or posting informational,short-form content online to answering FAQs GenZ and customer ser
302、vice representatives would otherwise spend hours repeating.They have varied preferences:More than 40%of GenZers agreed that“physical bank branches are important to me they provide a sense of assurance and peace of mind.”This is only marginally lower than older generations.At the same time,almost 40%
303、of GenZers said“I do not care if my bank has physical branches if I can do everything that I need through online or mobile banking.”The bottom line:There is no one size fits all with this dynamic,diverse generation.GenZers are anxious but eager to learn more and set themselves up for financial well-
304、being.Businesses that help assuage these worries and simplify the convoluted by actively listening,identifying unmet needs,and offering products and services to fill in the gaps will be best positioned to capture market share in the years ahead.“Im probably never going to buy a house in my life beca
305、use of inflation and rising costs and all that.And then obviously,gas,electric is so expensive now.I dont think Ill be able to live independently.And then plus the student loan.”London60Santiago Campos-AraozAs a result of recognizing the prevalence of misleading financial and cryptocurrency content
306、on social media,Santiago began his TikTok channel with the goal of providing educational and inspiring content that helps individuals navigate the cryptocurrency industry and invest responsibly.Santiago aims to inspire young people to make positive changes in their lives and offers a range of conten
307、t,including guidance on acquiring in-demand skills,obtaining employment in the Web3 field,networking,and making wise use of both time and money.In addition to his TikTok endeavors,Santiago is employed by Aleo,a blockchain company that focuses on implementing zero-knowledge cryptography to enhance pr
308、ivacy on the web.In his free time,Santiago enjoys exercising and trying new foods in New York City.A-Gen-Z CreatorenspyreinvestingClick or scan to visit Santiago6263No group of consumers has grown up as digitally savvy as GenZers.With screens as their babysitters,they had a world of information at t
309、heir fingertips before learning their multiplication tables.That expertise and their abiding skepticism makes them extra difficult to connect with online,their natural shopping habitat.Members of GenZ say they can sniff out marketing gimmicks,false claims,fake reviews,and inauthenticity by brands in
310、 a nanosecond and wont hesitate to bury companies on social media for their perceived transgressions.GenZ is a social generation,with a large online community of peer influencers.Yet members still value the opinions,reviews,and purchasing recommendations of friends,family,and other people they trust
311、.The Swipe-And-Buy Squad91%of Gen Zers are willing to pay extra for brands that support the causes they care about1/3say they trust what they see online30%revert to their“go-to”brand for a new product or service 50%of Gen Zers use TikTok,but two-thirds of Fortune 100 companies arent thereAGenZ StatT
312、he social media generation is moving beyond traditional marketing.But its loyal to brands that can get it right.64Having grown up perusing the“infinite shelf”thats available online,GenZers are the ultimate comparison shoppers.They prefer brands that provide choice,hyper-personalization,and a sense o
313、f community.They are less loyal to brands than other generations but will be avid cheerleaders for those that display authenticity and genuine connection.Brands need to adapt quickly;GenZ is expected to be the worlds highest-paid spending power group in the next decade.According to Bloomberg,in 2021
314、,GenZ was mentioned more than twice as often in earnings calls as it was in 2020,and as more reach adulthood,they will become the largest consumer demographic in history.Rewriting the rules of brand engagementGenZ is already a force in the marketplace.Depending on which estimate you prefer from Reut
315、ers,members shape between$144 billion and$600 billion of their and their families purchasing decisions.But GenZers buy like no other demographic:They are socially conscious,fiercely Source:Oliver Wyman Forum/The News Movement Gen Z Survey,OctoberNovember 2022,N=7,050I always purchase from this brand
316、I dont have a preference for the brands I buy in this sectorI sometimes buy from this brand,but I usually switch up the brands that I useI purchase from this brand most of the time but I will also look at other options30%will revert to their“go-to”brand for a new product or service 62%would investig
317、ate other options,despite having a favorite brand Goodbye,loyalty When you need a new product or service in a category where you have a favorite brand,what do you most often do?%respondents selected,US and UK data,Gen Z only65A-Gen-Z Report|How to win them as customersindependent,highly opinionated,
318、and always connected.They expect more from companies than millennials do,and theyre less likely to be brand-loyal than any other generation.They enjoy a good meme,but they have a serious side,and are guided by their morals and conscience.They will not only abandon,but cancel,brands at the first sign
319、s of hypocrisy or malfeasance.They want to be part of a movement and will reward brands that lead the way.To win a place in GenZ hearts,brands need to stop thinking of them as mere consumers and understand what makes them tick.They expect their brands to be relatable,inclusive,trustworthy,and transp
320、arent.Following are five factors that describe how theyre just getting started in driving change.Not tying themselves downWhether its their cynicism or their anti-establishment mentality,GenZers disproportionately favor brands like Shein,e.l.f.,Sephora,and CeraVe,underscoring how affordable,convenie
321、nt,and personalized brands will lead the charge and stand out for the new generation of consumers.Even when they have a brand preference,their loyalty doesnt run deep.Among those with a favorite brand,over 50%of GenZers would switch if another brand were cheaper or of higher quality.And more than ha
322、lf the time they have not previously interacted with the brand before buying the product or service.Their brand-resistance reflects the high bar they set.GenZers value brands that are sustainable,inclusive,authentic and engaged.They expect companies to take a stand on big issues and dont think twice
323、 about calling out those that stay on the sidelines.One in five say they would switch brands if they determine the companys values no longer mirror their own,which is higher than older generations.4x More likely to find the products and services they purchase through online research or social media
324、than via in-store browsing Traditional advertising has lost the throne to social media Think about a time you purchased a new product or service.What initially informed you about it?%respondents selected,US and UK data,Gen Z only24%17%10%Social mediaOnline researchBrowsing in-person storeSource:Oliv
325、er Wyman Forum/The News Movement Gen Z Survey,OctoberNovember 2022,N=7,05066Does this come in viva magenta?GenZers do not enjoy being labeled,stereotyped(or,even worse,lumped in with millennials).They are drivers defining their own journeys.They have an“infinite shelf”at their fingertips that extend
326、s beyond a store aisle or mall inventory,which empowers them to expect bespoke,hyper-personal options from the brands with which they engage.And they want it now,with 78%stating that accessibility and convenience were important characteristics of their favorite brands.Brands that provide hyper-perso
327、nalized experiences,such as Shein which uses algorithmic learning and personally customizes inventory presentation are winning GenZ consumers.This generation values the ability to express themselves through their choices,so brands that offer a wide range of options and the ability to customize their
328、 products or services are likely to resonate.GenZers are often more willing to trade their personal data and privacy in exchange for effective algorithmic recommendations and personalization incentivizing brands to collect consumer data to reach them most effectively with bespoke offerings.Lets get
329、phygitalSocial media presence is not just a part of GenZers identity its part of their DNA.They spend as much time on TikTok,Twitch,and other social sites as older generations do watching cable.So it stands to reason that their shopping behaviors are heavily influenced by social media,influencers,an
330、d the other members of their online communities.GenZers in the United States and the United Kingdom are four times likelier to find the products and services they purchase on social media(24%)or through online research(17%)than in-store browsing(10%).While GenZers are leading the way in social media
331、-based shopping,they still crave“TikTok is,like,so curated to me,I feel like they know what Im looking for all the time.So theyll get me with a hair product,you know,because you can tell when someones doing an ad and someones like,I really like this product,let me share with everyone that follows me
332、.I couldnt even count all the things that TikTok has influenced me to buy.”24,recentlycompletedmastersdegree/dogwalker,she/her,New York67A-Gen-Z Report|How to win them as customersphysical spaces,albeit ones that heavily incorporate the digital world.One in 10 GenZ shoppers prefers in-person shoppin
333、g over online options,although just over half are finding the products they buy through online scrolling and searching.Some industries see less change than others;for example,90%of teens still prefer to shop for beauty products in-store if possible according to Piper Jaffray.Some brands are beginning to rethink stores“almost to be a new media,”as YSL Beauty Marketing Senior Vice President Verane d