You may have heard about Generation Z, but who are they? The simple answer that won’t make you ask several more questions is that they are those who were between 1995 and now.
In the United States alone, Generation Z takes 26 percent of the population. Interestingly, this group contributes $44 billion to the economy of the United States.
By 2020, it’s approximated that the Generation Z will make a third of the population and they need to be considered in case anything comes up, Huffington Post reports.
Now, it will be better if you know the differences between the two groups of people: Generation Z and the millennials.
Below are the seven main differences between millennials and Generation Z:
Level of Focus
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Generation Z comes from countries where there are constant changes and improvements. That’s why it is essential that companies keep on improving their products and services to accommodate the interests of this group.
Besides, this group is known to love apps and social platforms and like to go through short and on point content. That’s why their attention span is considered shorter compared to that of the millennials. That’s why most companies will prefer millennials for workforce management-related tasks.
Entrepreneurship
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Before 1995, there were a few technological advancements, and that could be the reason why the millennials still have the traditional mindset – to be employed.
With Generation Z, they are more concerned with starting their own business and maybe, working from home.
Expectations
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Because Generation Z thinks in the line of entrepreneurship, they are likely to have higher expectations compared to the millennials.
Besides, Generation Z was born when there were already technological advancements. So, they think of new inventions every time.
For example, Generation Z expects that there will be one time when they can sit in the house, and some robot does nearly all house chores. This is something millennials will never think of.
Exposure to Social Media
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It’s true that millennials had lived during the times when social media wasn’t that popular. On the contrary, Generation Z is very familiar with social media, and it’s like their daily bread.
Generation Z dedicates much of their time on social media, and they would always want to know what’s trending.
Globality
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In essence, Generation Z is global. When you consider the invention of the internet, you’ll be right to say that millennials were the first global generation.
The difference is that Generation Z is more global in how they think and interact compared to the millennials.
Approximately 58 percent of people aged 35 years and above say that kids of this era have more similarities compared to the elderly.
Finances
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It’s no secret that millennials are tend to be more financially literate. Millennials will never buy something without tactfully trying to negotiate the price.
That could be because they grew during the times of recession. Research now reveals that 67 percent of millennials will visit a website just to win a coupon. On the contrary, only 46 percent of Generation Z are likely to do the same.
Stress
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This will trigger debate, but statistics do not lie. Forty-seven percent of Generation Z claim that they are satisfied with their lives.
On the contrary, 60 percent of the millennials claim they aren’t comfortable with their life and wish it could be better.
Bottom Line
Generation Z and millennials are two different groups with interesting differences. Sure, there are tons of variations out there, but these are among the best.
