Tired of seeing news stories about Millennials? Well soon you will be seeing more about Generation Z as they are set to surpass Millennials in 2019.
In 2019 the global population of Gen Z will be an estimated 7.7 billion, and they will make up 32% of the total global population, vs millennials who make up 31%.
Born in 2001, Gen Z’s oldest population will be turning 18 next year, meaning many will begin to enter University, and they will be eligible to vote, smoke & drink. Along with new experiences and responsibilities, Gen Z will be entering the marketplace in a big way and disrupting the status quo.
Never having known a non-digital world, Gen Z has grown up attached to devices, and has had access to the web their entire lives. The way we communicate and reach Gen Z is going to need to be more intensive and more personal than for any previous generation.
One of the most differentiating factors between Millennials and Gen Z is that while Millennials are focused on what is in it for them and looking to others for solutions, Gen Z naturally seeks to create their own solutions. (Rise of Gen Z: New Challenge for Retailers – Marcie Merriman)
Gen Z won’t be the end of the Millennial economy, but they will disrupt many industries. The handover to Gen Z from Millennials is good news for delivery services, gadget producers, and the gig economy, but it presents new challenges for companies in education, event planning, and luxury merchandise.
Are you ready for the transition?
TL;DR;
- Generation Z is set to surpass Millennials in 2019
- Generation Z makes up 32% of the total global population, vs millennials who make up 31%
- Millennials look to others for solutions, vs Gen Z’s seek to create their own solutions
Last modified: December 31, 2019
