Sorry Millenials, Gen Z are A More Savvy Generation

A new report characterizes Gen Z as tech and mobile savvy, better with their money and investments, more conscientious and multi-dimensional

Sorry Millenials!

A new report essentially says Generation Z, those born between 1995 and 2015, are better than you guys.

Describing them as “old souls”, the report by the National Retail Federation summarized Gen Z as better savers, more responsible, and multidimensional than the older Millenial, Gen Y, generation stating:

According to Jeff Fromm, consumer trends expert and author of Marketing to Gen Z, “our research suggests Gen Z not only influences other Gen Zers but also other generations.

“They are not a continuation of millennials,” the report states. “Gen Z is very grounded and financially savvy, with 72% currently saving money for future expenses or investments.”

The news gets rosier about them:

“It’s true that many receive financial support from their parents, but 33% pay for all of their own expenses when shopping for personal items,” says Kerri-Ann Santaguida, vice-president and general manager of global merchant and network services at American Express Canada

Fromm, a partner at ad agency Barkley, says that “Gen Zers value hard work and have strong leanings towards saving for their future. They are old souls in young bodies and we say this in our research.”

For Gen Z, the big topic is equality while for millennials it was the environment – both matter. “Highly digital and mobile, Gen Zers can gather more information from the palm of their hand from their phone than any generation before.”

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