The Gen Z money mindset is much more practical and even conservative than most people think. This bodes well for their wallets, which are thicker than mine was as a teen. Parents with tweens or teens need to understand kids’ money habits. You’re probably funneling much of that money into their hands. If you represent a brand including retail, corporate, educational, sports, entertainment, music, churches, etc. and intend to stay in business, Gen Z (born after 1990) should be in your sights right now.
Why You Need to Understand Gen Z
They’ve begun to enter the workforce. They’re currently spending billions annually and influencing many times more than that. Those numbers only promise to go significantly higher. The momentum is mind boggling. They are tomorrow’s money makers and today’s money spenders. Understanding the Gen Z money mindset is not a nice-to-have, it’s a must-have.
Original Gen Z Research
We will be conducting original research and online surveys with thousands of members of the Gen Z community monthly. You can receive high impact insights from each survey via social and other media.
Followed the Money
We began by surveying their financial proclivities. In May, we surveyed nearly 500 teens. On @WeRGenZ (twitter, facebook and Instagram accounts) we released valuable nuggets about where GenZ gets their money, how they spend and save it. When you see the results, you will tag them frugal, smart, and definitely savvy. The habits they are cultivating take them down a dramatically different path than their predecessors, the more well-known Millennial generation. Wow! What purchase power and incredible financial influence they have over their family spending.
Check out the “GenZ All About Money” infographic below and let us know what you think. Follow @WeRGenZ on twitter, Facebook and Instagram and of course this blog.
When school gets underway again in September, we’ll survey them about how they spent their summer. Why? Because if you want to reach them, you better understand where they’ll be, their disposable income, focus on learning by doing, digital exposure and how you can tap into it.
If you are interested in custom research about Generation Z , let us know that too. We are working directly with the 11th largest public school system in the U.S. accessing a diverse student population.