generation z to shape the future

The Growing Impact of GenZers

As the world speeds up with each new generation, so must businesses and finances step up their game or be left in the proverbial (digital) dust. The newest generation of consumers has stepped onto the scene: Generation Z.

These new consumers, born after 1995, grew up in a world of ubiquitous Internet, where quick and easy access to information is the norm. They're also the most culturally diverse generation to date, having grown up with varied family structures as well as surrounded and in contact since day one with diverse ethnic groups and blurred gender roles.


Their world is online as much as it's offline. They live in a world in which they can function while their attention is divided into several focus points simultaneously. Also, a GenZer will most likely learn about a new product or a problem with it much earlier than you. This does not necessarily mean they will discard it or judge it as lacking. GenZers will happily accept a beta product today with an eye towards reaping the benefits of a finished product tomorrow, fully aware that their interaction at the beta stage will improve the final version.

A Matter of Trust and the Need to Research in Real Time

In retail,  this translates into the fact that GenZers are in possession of both the time and the necessary tools to compare products and prices and will take into account other potential benefits before making a purchase, e.g. free delivery, carbon footprint or social impact. They have no qualms about hopping between retailers and service providers as they are able to, at any time, ask their networks of friends and acquaintances for recommendations, thoughts or experiences of a product, including while actually in the store, deciding on a purchase. 

GenZers trust their peers more than marketers and won't pay more for ownership if they can pay less for access. Not shy about using platforms such as eBay or even going to second-hand shops, GenZers have stated a preference for combining online experiences with brick-and-mortar retail, looking for a more personalized experience while shopping and wanting to feel the product in their hands and see it with their own eyes. 



Witnessing financial and business upheavals of the past 10+ years has significantly affected the GenZers´ view of money. Having limited financial resources, they are extremely careful not to waste them and are very shrewd with their money and mindful of their spending. Currently, GenZers are reported as having the lowest average balance and lowest average credit card debt of all current generations. According to studies, a large percentage of GenZers have "prime" credit scores and are very likely to pay their credit cards off in full each month; they also report GenZers being aware that this builds a solid credit history and may impact future credit behavior and access to lower rates. 

But that is not all. The looming threat of climate change has increased the social conscience of this generation, which makes their desire to do social good intrinsic to their lives. A continual online presence and living under the scrutability of social media have made them value community and communication in ways different from previous generations. Self-sufficient entrepreneurship and social impact are the name of the game for them, and many GenZers report having already started making their retirement saving plans and having financial plans in place. 


On this episode we talk about influencers which have a tremendous impact on the everyday life of GenZers. Stay with us and find out who they are!