💼GenZ, a formidable demographic born between 1997 and 2012, already holds a global purchasing power of $100bn. By 2025, they're expected to constitute 27% of the global workforce! This means they're going to have a huge impact on the future of the world economy.
As corroborated by our own research, a recent landmark global study conducted by BCW, encompassing 36,000 individuals across 30 countries, underscores that GenZ places importance on power, achievement, hedonism, and stimulation. Interestingly, we often encounter a perception among our clients suggesting that GenZ is power-indifferent and prioritizes social causes over personal success - a notion this study disproves.
Of the GenZ respondents, around 44% prioritized success and recognition of their accomplishments. Furthermore, 43% highlighted the significance of experiences that offer fun and pleasure. GenZ are collectivist but are simultaneously motivated by self-propulsion.
In my view, this GenZ emphasis on personal achievement seems to be an extension and amplification of trends spurred on by social media. In our increasingly interconnected digital era, our public lives serve as a platform for 'status signalling', further intensifying the value placed on individual success 📲.
It's crucial to understand that notions of success and hedonism can vary across generations and markets. Yet, one consistent insight is that GenZ stands out as a generation of ambition-driven pleasure-seekers.
Understanding these evolving trends is of paramount importance as we navigate the rapidly changing landscapes of work, society, and economics. As GenZ's influence continues to grow, staying in tune with these shifts is not just beneficial, it's essential. 🚀
Check out the full report here: https://lnkd.in/eSK9qKgd
