What is the difference between Millennials and Generation Z? Generation Z consist of people born in 95 and later. The Gen Z group makes up almost 26% of the United States population, the largest percentage of a group there is! This group contributes 44 billion to the American economy alone! Eventually, they will account for 1/3 of the United States population.
Millennials are people who have essentially reached adulthood around the year 2000. The value in understanding the differences between these segments will help you prepare your business for the future, shifting marketing, leadership and help you adapt efforts to remain relevant in the future.
Learning the differences between Gen Z and Millennials
Generation Z is Less Focused
In today’s world relevance is constantly being redefined and generation Z lives in a world of continuous updates. Generation Z will process this information faster and in a full duplex way. Thanks to mobile apps like Snapchat and Vine, and all of the other spaces competing for attention in their lives, attention spans are significantly lower than millennials.
Gen Z can multi-task better than any generation before
These individuals can quickly shift between work, play and business with distractions happening all around them. Think about how this flow will reshape and disrupt the traditional office place.
Millennials are Bargain hunters compared to Gen Z
Millennials came of age during the recession of 2008 and nearly 70% of millennials surveyed said that they would go to a website to find a coupon, where only 46% of Generation Z said they would do the same.
Gen Z wants more out of their lives
Gen Z has higher expectations than millennials overall. They grew up with all the modern conveniences of technology, high-speed internet, etc. If they don’t feel appreciated, they’re going to move to the next. It’s not about them being loyal to you.
Gen Z is big on individuality
Generation Z kids were born social. Over 91% of Gen Z kids have a digital footprint. Generation Z kids seek uniqueness in all walks of life and particularly through the brands they buy from.
Gen Z is intercontinental
Millennials were actually some of the first generations to be considered intercontinental or global in thinking from the advent and popularity of the internet. However, Generation Z is believed to be even more global in thinking having being connected to the internet and services which exist as international entities. They travel, they converse with the world, they purchase and sell with the world and will continue to do so into the future.
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