Generation Z: What future for the next generation? - Trajectory Trends Breakfast July 2016 - Trajectory Partnership
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Generation Z:
What future for the next generation?
Trajectory Trends Breakfast
July 2016
What future for Generation Z?
Why Generation Z?
% of UK population in each generational grouping; 2015 - 2030
100%
2016
90% Gen ?
80%
Gen Z By 2029, Gen Z will be the
70% largest generational cohort
60%
Gen Y
50%
40%
Gen X
30%
20%
Baby Boomers
10%
0%
2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030
Source: Office of National Statistics, 2014 based National Population Projections
2016 UK Demographic Composition Low Hanging Fruit
Pre-War: 11%
Baby Boomers: 22%
Generation X: 20%
Generation Y: 20%
Generation Z: 19%
Source: Sonica Singh, Sapient Nitro; 2013
Why define generations? “In rare cases, downturns are catastrophically deep and enduring, as were the Great Depression of the 1930s and Japan’s lost decade. Such downturns shape the mind-set of whole cohorts of consumers and have a long-term impact on buying behaviour.”
Generation Defining Events
Generation Z: The Stereotypes
“I call them Generation K, after Katniss
Everdeen, the determined heroine of the
Hunger Games. Like Katniss, they feel the
world they inhabit is one of perpetual
struggle – dystopian, unequal and harsh.”
- Noreena Hertz, The Guardian
[I]t’s not money that drives teens today –
only 2% see finances as the most
important element in life. They’ve
learned from the mistakes of their
parents’ generation. New values sit
higher on the teen agenda and happiness
is at the centre”
- Coca Cola
Health
A Generation Willing to Pay Source: Nielsen Global Health and Wellness Report; 2015
Smoking in decline Source: HSCIC - Smoking, drinking and drug use among young people in England in 2014
Drinking also in decline
Units consumed on heaviest night in previous week;
Men and Women, 16-24
60% 55%
Men - None
50%
49%
Women - None
40%
30% Men - More than 8
21%
20% Women - More
than 6
16%
10%
Gen Z enter
0%
Source: Health Survey for England, 2015Gen Z Minds Source: Safer Internet Centre ‘Creating a Better Internet for All’ report 2016
Mental Health Less and Less Stigmatised
Fear and exclusion of people with mental illness, 1994-2013
(% of respondents who agree)
35%
30%
"Anyone with a history of
25%
mental problems should
be excluded from taking
20% public office"
15% Locating mental health
facilities in a residential
area downgrades the
10% neighbourhood
5%
0%
1994 1995 1996 1997 2000 2003 2007 2008 2009 2010 2011 2011 2012 2013
Feb DecThe Changing Meaning of Gender
The Changing Meaning of Gender
UK Under 18s referred to Gender Identity Development Service; 2009-2016 (2015-16
data only for April-December) 17
1000 16
15
900
14
800 13
700 12
11
600
10
500 9
400 8
300 7
6
200
5
100 4
0 3
2009-10 2010-11 2011-12 2012-13 2013-14 2014-15 2015-16
Source: The Tavistock and Portman NHS Foundation Trust; 2016Digital Consumption
Generation Z-oella
Gaming & eSports
eSports Revenue Growth; ($ millions)
$1,200
$1,000
$800
$600
$1,072
Million
$400
$463
$200 $325 Million
$194 Million
Million
$0
2014 2015 2016 2019Education
Accessing Education Source: Simon Crowther, Facebook
The End of the Degree as Proxy?
University Sentiments;
800 15-18 Year Olds
Think university is important to get a good job in
the future 92%
Think university enables them
to become more independent 87%
Think university is worth the cost in the future 81%
Worry about how much university will cost 78%
70% 80% 90% 100%
Source: Student Com/Campus Life, 2016Challenges
Fairness Between Generations
The 2015
Intergenerational
Fairness Index annual
report reveals a 10%
deterioration in the
prospects of younger
generations relative to
older generations
between 2010 and 2015.Gen Z – still Generation Rent?
2001 2.3 million households renting privately
2014 5.4 million households renting privately
7.2 million (25% of the UK population)
2025
will be renting privatelyThe Future of Intergenerational Conflict?
Leave Remain
65+ 64% 36%
50-64 60% 40%
25-49 46% 54%
18-24 29% 71%
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
Source: YouGovImplications Changing meaning of place The end of conventional demographics? Limited social mobility Changing meaning of age
Final Thoughts • Potential to be the catalyst for big changes • In some ways opposites of gen Y • In many ways extreme versions of gen Y • However, clearly different from Y-ers in the way they perceive and react to the world
Trajectory 22 Upper Ground, London, SE1 9PD + 44 (0)20 8004 4869 trajectorypartnership.com @TrajectoryTweet
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