Data Availability
- Data availability is adequate.
Definition of Generation Z
- Also known as Zoomers, this is the generation that was born after millennials. They were born between 1997 to 2012, according to Pew, and are in their early twenties and teens.
- For McKinsey, generation Z was born between 1995 and 2010, making them 11 to 26-years-old today. A separate KcKinsey article however defines the generation as having been born between 1996 to 2012.
- This generation is defined in the US by having little memory of 9/11, and not having grown up with the wars in the Middle East (as millennials did). They are the most ethnically diverse generation and the Internet has always been part of their lives.
Population in the US
- The exact population size of Gen Z varies roughlly as much as the precise definition of what years pertain to the generation. According to Knoema, there are 86 million zoomers in the US, while Statista clocks them in at 67 million.
Purchasing Power
- In 2018, Gen Z's direct and indirect spending power in the US was estimated to be $143 billion. However, the economic consequences of the pandemic, particulary on the more casualised and hospitality work where Gen Z is often employed, may have seen this figure reduced.
Social Issues
- Politically, Gen Z are fairly aligned with millenials, in that they typically believe the government should do more to solve problems and they think that increased racial diversity is positive for society. Gen Z and millenials are also more likely than other generations to see the link between human activity and climate change. Both generations are also much less likely than other generations to see the US as being better than all other countries.
- Gen Z are more familiar with the use of gender-neutral pronouns, and around a third of them know someone who uses them.
- Only 15% of Gen Zers see same-sex marriage as being "bad."
Summary
Our initial research suggests that there are numerous surveys and abundant analysis on Gen Z in the US, and we will be able to meet most aspects of the profile requested. There is one area where we may have to tweek the information a little bit. It will be hard to provide precise 2021 or 2020 purchasing power figures (initial research suggests the most recent data is from 2018), but we can certainly provide insights that help to explain the current wealth, income, employment, and purchasing situation of this generation. Because we've already covered the definition and population of Gen Z, we suggest five research briefs to cover the remaining aspects of the profile.