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  • Mariane Bunn

Generation Z: The Architects of Tomorrow

It is a picture of a white girl, medium size dark blonde hair, in the middle of a street with buildings around. She is wearing colored clothes and a coral hat. She holds a analog photo camera.

As we stand at the edge of a new era, a generation steps forward that promises to redefine the fabric of society—Generation Z. Born between the years of 1997 and 2012, they form a colossal demographic of over 2 billion individuals globally. They are not just numbers; they are a force to reckon with. To entrepreneurs, human resource professionals, marketers, UX designers, and veterans from various walks of professional life, understanding Generation Z is not just an option but a necessity.

Recent insights from the prestigious The Economist, printed on April 20th, reveal an intriguing narrative about this dynamic generation, and we delve into the essence of their emerging dominance.

Why Gen Z matters

Gen Zers stand apart as a richer, healthier, and better-educated generation, especially in emerging economies. Their ascendance is critical as they are poised to shape the societal contours of the future. They bring a deep concern to the table and have an undeniable impact on climate change, thus driving future market trends and political scenarios.

The anxious influencers

However, the road is not all paved with gold for this group. Labeled as the 'anxious generation,' Gen Z faces a higher propensity towards depression, dealing with reduced social interactions— a stark contrast to their millennial predecessors. Their digital entanglement has led to debates in the US political sphere on the regulation of smartphone use, spotlighted as a potential cause for concern.

Financial finesse and the shifting academic tide

Contrasting the discourse on their mental wellbeing, Gen Z exhibits financial savvy. Shifting away from the humanities, they are taking a path through the fields of engineering and economics, for example, and demonstrating a propensity to change jobs with an eye on the prize - better benefits and higher salaries (and they are getting them), without great attachment to the company. This flexibility is not only strengthening their professional journeys, but also increasing their financial value compared to other generational groups. Their salaries are much higher than those of previous generations of the same age.

Credits Vogue Business

Consumer revolution: A Vogue Business revelation

Vogue Business has thrown the spotlight on Gen Z's disruption of the traditional consumer funnel. Their shopping patterns are different, dictating a transformative future for retail. The full scope of this research is a must-read for anyone looking to decode their complex consumption habits. You'll find the link to the full research results at the end of this article.

Innovation and entrepreneurship: A shift in the wind

Contrary to the entrepreneurial spirit that characterized their forerunners (Millennials), there's a notable decline in startup ventures among Gen Zers aged 15 to 24. This dip in innovation and entrepreneurial endeavors marks a departure from the norm, setting a different pace for the generation's economic engagement.

Resilience amidst recession

Armed with increasing economic influence, Gen Z could, paradoxically, find themselves more vulnerable to the blows of a recession. The looming shadow of Artificial Intelligence and its potential economic upheavals present both a threat and an opportunity—wherein the youth may harvest the benefits of technological advancement.

Generation Z is not a mere segment of the population; they are the architects of our collective future. Their unique blend of attributes and the challenges they face underscore the urgency for cross-generational dialogue and understanding. As they rewrite the rules across various spheres, from the economy to the environment, it's imperative that we pay close attention. For in the narrative of Generation Z lies the blueprint of the world to come.

To read the Vogue Business research click here.

If you're interested in finding out more, read the full article in The Economist here.


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