It is clear as the light of day that one generation can never entirely fathom the ins and outs of the next one, not even scratching the surface. The gap between the two generations and the rapidly changing perspectives they're holding can't possibly allow those distanced in age to have a complete understanding of each other's points of view or resonate on substantial aspects of life. However, the differences in conceptions are even deeper when it comes to the X generation trying to grasp the workings of Gen Z, or, for what's worth, attempting to show empathy and sympathy towards their successors.
Zoomers aren't only those who grew up surrounded by everything digital and with the tech and slang dictionary in their hands. They are also the quickest to grasp concepts that once seemed too distant for millennials, like investing in virtual real estate near Snoop Dogg's land or paying with digital money that has no physical substance. The generation born in or after 1995 has the highest percentage of members who can grasp the technology and intricacies of digital money quicker than any other age category. Even if millennials have first experimented with cashless wallets and everything crypto, it's the Zoomers that are poised to push the crypto industry even further through their unparalleled determination to learn how to buy Ethereum and other leading coins alike or find ways to leverage this cutting-edge technology in ways that go beyond investments.
Gen Z has everyone's attention now since they're the generation everyone looks at to drive change and innovation. Yet, it takes more than simply waiting and hoping—a deeper understanding of Zoomers could uncover almost all the mysteries surrounding their workings. Here's the tea.
Gen Z Approaches Digitalization Just Like Millennials
No surprise, a mutual understanding is challenging—digitalization has been the driving force behind this discord. If anything has left an indelible mark on Generation Z as they've grown into adulthood, it's the ubiquity of the digital realm. The shifting economic landscape, financial crises, the pandemic, political turbulence, geopolitical conflicts, and other seismic events are significant. Still, none of them compare defining power to the omnipresence of the digital world that has enveloped Generation Z from the moment they opened their eyes, continuing to shape their lives and beyond.
The fact that Zoomers grew surrounded by digitalism has pushed them to raise their standards regarding what content they are exposed to online and how advantageous and rewarding the activities they're unfolding there are. They're mobile-first and tech-savvy and look at the internet and the seizing web3 through different glasses than their predecessors. One could say they're keener on digging deeper into today's technologies and laying the foundation of tomorrow's digital realm. They're also more entrenched and familiar with the rapidly ascending technological advancements.
How Gen Z and Millennials engage with and comprehend each other goes beyond a mere psychological study or topic of hot debate. This interaction on both social and psychological levels is at the core of businesses' efforts to keep up with trends and meet the expectations of both categories, the latter of which are everchanging and easily influenced by external factors. Having overlooked the preferences of millennial consumers and the digital revolution for a while now, brands have started to dedicate more efforts to bridging the gap and representing millennials. As a result, it's critical for today's businesses to proactively forecast the inclinations of Gen Z and ensure by now they're keeping a keen eye on the changing digital expectations.
Gen Z Has It Easy with Their Careers
Due to the different perspectives existing because of the birth date range, comprehending Gen Z's life principles and values can be difficult. Gen Z, or those born starting in 1995 and until 2010, as a McKinsey report shows, is not to be confounded with Ernst & Young, who span 1997-2007. Zoomers, succeeding the millennials and preceding the Gen Alpha, are defined by an
omnipresence in the online realm. They've grown up with instant and unlimited access to all sorts of information, whereas the previous generation had to dedicate more effort to achieving the same knowledge. This unhampered accessibility is, from the start, a delimiting element in how both generations perceive and think about the surrounding world.
On the other hand, a 2021 report from Ernst & Young, a British company specializing in financial consultancy and audit, shows that Gen Z is keener on authenticity, finding objective, deep connections, and indulging in enriching experiences. For reasons like these, businesses nowadays are struggling more than ever before to suffice the need and desire for authenticity and transparency in their offerings and reflection. Inclusion, diversity, equality, social justice, sustainability, and activism are just some topics at the top of the list of forward-looking businesses seeking longevity in the suffocated market.
Zoomers have grown through the recession and have borne witness to the financial hardships faced by their parents and the broader world, pushing them to become acutely conscious of the significance of aiming high and doing the hard work to reach those heights. However, they're also the generation that's more aware of the toxicity of the hustle culture that has been quietly governed the workers of the past decades.
Unlike Millennials, who have relied on inherited goods and properties and have not felt the pressure of job shortages like those born before 1997, Gen Z beheld some realities yet to be known to their predecessors. For similar reasons associated with the pure coincidence of existing in different ages, these days, you hear about self-made millionaires more often than not, as well as the denominations of “new money” and “old money”. The former category, pointing to individuals who have achieved all of their current fortunes through their own hard work (with cases of giant lottery wins accounting as well) is increasingly predominant.
The internet, globalization, reduced travel barriers, and increased awareness of educational matters has collectively set the stage for today's Gen Z to evolved into pragmatic, diligent, enlightened, and open-minded individuals. Gen Z has figured out ways to take advantage of the online realm and offline interactions to foster more profound and mutually advantageous connections. They have also grown unafraid to voice their opinions and take action, and like with any preceding generations that pass on invaluable knowledge to their followers, their successors can educate them with fresh insights and ideas that would otherwise be more difficult to learn.