Can we please move on from the Millenials to.....
Generation Z
Generation Z- Those born in the mid-90's to 2010.
The buzz-words whether we like it or not eventually become annoying.
If I read the word "millenial" one more time I think I am going to scream!!!
It is interesting to me how a certain word becomes so popular and we wear it out until we just can't stand it anymore. You know what I am talking about. Just like that number one hit all the radio that we all love! However, playing it every hour on the hour is a over-kill!
So lets move onto the new buzz word shall we? What about Gen Z? They are the new upcoming generation that will be buying and renting. How are they different then the.... "M" word?
The young Gen Z's are becoming college grads and they are positioned to be different from the "M's". So they say (who-ever they are).
A 2015 Census Bureau reported that nearly a third of "M's" are still living with their parents. Gen Z's are growing up in a healthier economy and ready to cut loose from home. Even though they will be proficient in technology this next generation will prefer in-person versus online interaction.
Do you find this as interesting as I do? Just when we think things are outdated they always seem to come back around. The ebb and flow of life. Just like clothing fads if we are around long enough those items we wore in high school will be back in style we can hand them down to our children or grandchildren or great-grandchildren.
Gen Z is tagged to be in constant "FOMO" (fear of missing out). They cannot stand not being in the loop when something new and exciting rolls out. They are impatient and don't want to take the time to figure out a problem when they can research it online for quick resolution. All of them now carry around a tiny computer in their pocket.
They are thought to be "anti-millenials". The reject the M"s values and want to make the world a better place. They grew up with the economic instability and want to see the world change. Many grew up in households with more than two generations under one roof and developed more respect for their elders.
Members of Gen Z will be more financially conservative then their Gen Y counterparts. They have seen millenials suffer with student loans, underemployment and their delayed adulthood and they don't want that. Gen Z are too young to remember the economic downturn in 2007 where people loss massive amounts in the stock market and the high unemployment rate. They won't be like their Depression-era-penny-pinching Great Grandparents but they won't be crazy free spending like Gen X.
They will be different then the "M" they will want to buy real estate and have a new car loan.
They are millenials amped up on steriods. They were born with technology. They have a social media profile page whether it be Facebook, Twitter, Snapchat before they are born. Technology is an extension of their self-expression even though they might not consider themselves to be "techy". They will be pushing for their younger social networks such as Snapchat, Secret, Whisper in order for you to connect with them.
In the past, companies saw great value in investing in branding. But will this be harder since Gen Z will be heavily influenced by their friends opinions and judging your online reviews to help them make their decisions. It will be important for companies to express their opinons quickly on negative online reviews. They will care more about how fast they can get a product versus the popularity of a product.
Of course it is merely guesswork right now on the behavior's of Gen Z and what the future will hold.
It is only a matter of time Gen Z's will be all grown up and they will be griping about "the kids these days" just like we do now.
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Kathryn
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and I think the only reason they use 'Z' is because it's a populars new trendy letter ...
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