I'm sure you know one. They are that 24-year-old one that has a water bottle the size of a fire extinguisher. Maybe the one that spluges on the product in recycled packaging, even if they can't afford it. Or the one who drops half a paycheck on a wrinkle serum a long times before the wrinkles normally appear.
They are part of Generation Z, born between 1997 and 2012. This makes the oldest about 29 and the youngest still in school. That amounts to around 70 million of them the United States alone. The are already outnumbering the baby boomers in the workforce and byu 2030 they will make up to a third of the workforce. They are the new coworker, the new customer or the new neighbor.
They are the first generation that has grown up with the whole world in their pockets. Every fact, trend, stranger or crisis is only a thumb-swipe away from the time they were old enough to hold a phone. Then the pandemic came along and sharpened their focus on mental health, fitness, and preventive care. These combined forces have shaped almost everything else about them. They have become informed, overwhelmed, idealistic, anxious, careful with their health and unsure about their future.
As a business person, we need to understand what our new clients/customers are looking for.
Like most people growing up you'll find they want meaningful work, a life with purpose or a better world. Ask them what they expect and you may find that this is a generation that may dream of career fulfillment, but quietly assuming that they may never own a home or be able to retire comfortably.
They came of age watching one upheaval after another and came to the conclusion that the future can not be counted on. Idealists braced for disappointment. That mix of hope and wariness is the key to almost everything else about them.
Putting their money where their values are.
They buy on belief. About three out of four say that they try to buy from companies they consider ethical, with about ninety percent think businesses have a responsibility to address social and environmental problems. Seventy-nine weigh sustainability when choosing what to buy, and they'll pay more the environmentally friendly option. This commitment shows up in small, everyday choices such as refillable bottles over the throwaway, the brand that publishes its supply chain, a brand the publishes its supply chain or a thrifted jacket rather than the fast-fashion kind.
They will research a company before they buy from it and can spot a fake from a mile away. To this generation, what you buy is a statement about who you are. If you ask a baby boomer about welness, you will probably hear about vegetables and the gym. Ask the same thing to Gen Z and you will find that wellness includes their sleep, stress, friendships, their screen time, money and mood alongside diet and exercise.
This attention translates into health benefits, but also shines an anxiety-powered spotlight on things that most consider part of everyday life. For example, more than half of young women say that aging already stresses them out. Even as young as middle school, many Gen Zers have purchased premium antiaging skin care that is meant for mature skin.
Gen Z in The Workplace
Gen Z is entering into a tough employment market with the rapid change in technology. Entry level job openings have thinned (unless you go into the trades) and many feel that their wages can't stretch far enough to live well. So, they have stopped counting a a single paycheck.
One in three Gen Zers now has a side hustle, which is much more than other generations. The difference is that while other generations viewed a second income as something to get ahead or fund something fun, Gen Z tends to see it as a basic requirement and perhaps something that they may have to depend on all their lives. They pick up side gigs, work independently, or change more frequently than the generations before them.
The Big Picture
It may be easy to dismiss this generation as fragile or coddled or hopelessly stuck online. Howerver, look closer at what they value. They see everything is connected - body, money, planet, and peace of mind - and they are trying to handle it all at once, while having more information with less certainty than any generation before them. That sometimes makes them wiser than their years, while others just makes them tired. Often, both.
They have more to teach the rest of us than we expect, but they could use a little of what the rest of us have already learned.
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