THE STATE OF GEN Z® 2020: Gen Z as Consumers, Influencers, and Trendsetters
Gen Z Becomes the Most Important Generation of Consumers
Gen Z consumers are here. They are driving tremendous change in the marketplace as well as on shopping, buying, payment, social causes, and much more. They are also being significantly impacted financially by COVID-19. In this 2020 State of Gen Z®, we dive deep into what you as a marketer, sales professional, brand manager, entrepreneur, or innovator need to know about this rapidly emerging and influential generation of consumers who are now up to age 24!
This year’s national study included over 1,000 members over Gen Z and compared them to 1,000 Millennials as consumers. The side-by-side generational comparison is extremely helpful as business leaders recognize that Gen Z is not Millennials2.0, but a very different generation that has come of age with different norms, experiences, technology usage, parents, and much more—including the impact of COVID-19.
Here are a few of the questions answered in this 2020 State of Gen Z® study on Consumers:
• How has COVID-19 affected Gen Z financially
• How does Gen Z learn about new brands?
• What makes Gen Z loyal to a brand?
• How does Gen Z feel about brands that support social causes?
• What does Gen Z want in an online buying experience?
Below are just a few of the findings from our 2020 State of Gen Z® consumer research study:
56% of Gen Z are more likely to try a product or service if their favorite online influencer recommends it.
68% of Gen Z normally look at delivery times and options before completing an online purchase.
Gen Z most respect a company more that supports the causes of racial equality and ending poverty and homelessness.
43% of older Gen Z (ages 18 to 24) have gotten behind on credit cards, rent, or other payments because of the COVID-19 pandemic.
46% of older Gen Z (ages 18-24) have borrowed money from a friend or family member since the pandemic started.
There are many more exciting findings in this year’s State of Gen Z® 2020 for leaders, marketers, journalists, and parents. This research is only available from The Center for Generational Kinetics. Fill out the short form on this page to receive your free copy of the entire report.
“As consumers and trendsetters, Generation Z has come of age always being able to shop, order, pay, and earn rewards through digital devices. Now in the fifth year of our State of Gen Z® study, it is clear to us how practical Gen Z is with their saving, spending, and financial plans. This year’s study reinforced that Gen Z is driving consumer trends as well as new consumer preferences toward social causes that will have a significant, lasting impact.”
—Denise Villa, PhD, CEO, CGK and co-author, Zconomy: How Gen Z Will Change the Future of Business—and What to Do About it
A Small Sample of the Study's Findings…
56% OF GEN Z
are more likely to try a product or service if their favorite online influencer recommends it.
43% of older Gen Z (ages 18-24)
have gotten behind on credit cards, rent, or other payments because of the pandemic.
68% OF GEN Z
normally look at delivery options and times before completing an online purchase.
46% of older Gen Z (ages 18-24)
have borrowed money from a friend or family member since the pandemic started.
“Brand leaders, innovators, CMOs, and investors should pay close attention to Gen Z and the discoveries in The State of Gen Z® 2020. This new generation is driving consumer trends from saving and spending to social causes and brand engagement. Understanding and adapting to attract and keep Gen Z as consumers and brand advocates now can lead to decades of loyalty and growth—even in crowded consumer markets.”
—Jason Dorsey, President, CGK, and co-author, Zconomy: How Gen Z Will Change the Future of Business—and What to Do About it
About the 2020 State of Gen Z® Annual Research Study
Each year, The Center for Generational Kinetics leads The State of Gen Z® Annual Research Study to dive deep into new and emerging trends, solutions, and insights as Gen Z emerges further into adulthood and gains more urgency and influence as consumers and employees.
This year’s annual Gen Z study uncovered so many exciting findings that we are releasing it as a series of three reports: Gen Z as Consumers and Trendsetters, Gen Z as Employees and Emerging Leaders, and Gen Z Looking Ahead. The State of Gen Z® research study was conducted and designed by the PhD-led research team at The Center for Generational Kinetics.
To lead this research, The Center for Generational Kinetics (CGK) designed a custom Gen Z and Millennial study. The quantitative study was administered to 2,016 U.S. respondents ages 13-43, including 1,007 Gen Z (ages 13-24) and 1,009 Millennials (ages 24-43). The sample was weighted to the U.S. Census for age, region, gender, and ethnicity. The national study was conducted online from July 17, 2020, to July 27, 2020. Figures are statistically significant at the 95% confidence level. The margin of error is +/-3.1%.
Gen Z Research, Speaking and Consulting That Solves Challenges for Leaders
The Center for Generational Kinetics has led more than 65 generational studies, spanning four continents and multiple languages. Each year, we work with over 100 clients, from global retailers and inancial services leaders to pioneering technology companies. We have helped financial service providers invent new products and offers, launched new cars to a new generation of buyers, and helped hospitals attract and retain the next generation of nurses.
We are passionate about helping you solve your generational challenges and drive measurable results. Contact us now to schedule an initial consultation with our research, consulting, or speaking teams. You can also reach our friendly team y phone, email, or our contact page: