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Macrotrends

Retail 2.0: Youth Outlook On Luxury

... program and an in-house volunteering program. This kind of triaged “put your money where your mouth is” approach appeals to Zs especially, who are the most culturally and racially diverse generation and want to know that brands keep this issue top-of-mind. Brands who ignore this and present a singular, insular vision of who their customer is will find themselves looked over at best and “cancelled” at worst. Dolce & Gabana is one such brand that found itself facing crippling backlash after a series of ...

The Gig Is Up

... access technology has provided for seeking out job options (see examples), Ys and Zs are the first generations that have the ability to capitalize on the money-making opportunities provided by the gig economy. The gig economy is only growing, and as expectations evolve, services are emerging to provide benefits, which is often considered to be a major drawback of participating in this marketplace. The gig economy takes youth’s propensity to Build Your Own Career to greater heights by giving them ...

#RichKidsOf...

... Following the lives of wealthy, materialistic youth has become a globally resonate form of entertainment. Only 23% of GYs say that being very wealthy is a life aspiration, yet money still talks globally. Indeed, Ys in some nations are taking pride in wealth, flaunting their upwardly mobile financial status as a badge of honor that often inspires envy or amusement from their peers. Money is a top priority among many South African Ys; 35% say that being wealthy is a life aspiration, 45% say that ...

Off-Roading

... to get rid of it as quickly as possible. Instead of feeling helpless about their debt situation, they’re turning to online tools and savvy financial strategies to help them dig their way out. They’re replacing their credit with prepaid debit cards and taking extreme measures to pay down what they already owe, enacting spending fasts and diets and money-saving challenges, and signing debt-free-life pledges. Financial institutions are just beginning to respond to Ys’ unique financial situation ...

The Optimization Generation

... considered a good thing, but now it’s seen as cumbersome. To that end, 78% of youth say they’ve become more strategic about how they spend their time in the past few years, and 76% say the same about their money. That’s not to say that they’re miserly. Young people are eager to spend on products and experiences—but only ones that offer the best return on investment. Moving forward, marketers that tap into this mindset will be better poised to earn the loyalty of the budding Optimization Generation. Now ...

Life For Like

... vendetta taken too far), others are oversharing on their platforms to engage with their followers and create an online community where everyone has a voice. In some cases, influencers are opening up about personal experiences that are usually stigmatized to foster awareness and help viewers, as well we themselves, feel less alone.IT’S BEEN REALI like people who aren't going to give themselves up for an ad or for money. All the people that I follow I feel are genuine and true.LIZA, 34, AUSTINOpening up ...

Accelerated Adulthood

... image of oneself. Two-thirds of Zs consider earning their own money to be a marker of adulthood, and as it’s becoming more common for them to do so at a younger age, this is playing into the concept of Accelerated Adulthood. However, simple things such as sending email, which older generations probably assume is second nature to this generation of digital natives, is actually more likely to be considered an adult milestone by Zs. They’re used to informal methods of digital communication and can ...

Personal Property

... keeping up with those around them. Gen Xers also regarded homes as a key status symbol, and thus believed the bigger the house the better. Since buying a prefab house, rather than a personalized one, enabled them to get the most space for their money, Xers, too, typically had houses that looked highly similar. However, to Gen Ys and Zs, who value customization and individuality in nearly every aspect of their lives, from their career paths to their romantic relationships, it’s far from aspirational to ...

The Global Retail Landscape

... online and IRL—and presents an exciting opportunity for brands who have never had more access to consumers, whether in person or online. However, the influx of new product entrants, formats, and spaces can make modern youth feel as though they’re on the receiving end of a retail firehose. The modern consumer is constantly bombarded with an onslaught of newness from brands that are keen to capture their money and attention, which does little to impress today’s shoppers who want brands to look at ...

Free For All

... do. What’s more, by discovering the specific activities that Ys and Zs choose to partake in, brands across all verticals can step in to support and inspire them through their passions.THE WORK-LIFE DEBACLEAcross generations, the workplace has seen cultural shifts that have defined and then redefined the purpose of work and free time. Baby Boomers, who worked to live, viewed work as a means to make money and pay for the lives of leisure they deserved; free time outside of work was a time to put ...