With a combined global population of over 3 billion people, Gen Z and Millennials make up a huge part of the commercial market. Businesses simply can’t afford to ignore their value.
Despite their closeness in age, the two generations are distinct. Shaped by different world events and experiences, each group has its own nuances and preferences that marketers need to understand and appeal to.
From differences in how they shop and purchase items, to distinctions in what they value most about a company, Gen Z and Millennials require a different customer experience.
A Millennial refers to anyone born between 1981 and 1996. According to MSCI, in 2020 there were approximately 1.8 billion millennials around the world. That equates to roughly 23% of the global population.
Generation Z, commonly known as Gen Z, refers to people born between 1997 and 2012. In 2020, they became the world’s largest generation, accounting for 32% of the global population with over 2 billion members.
So, what do we know about the differences between Gen Z and Millennials? We’ve put together a handy infographic listing all the major differences businesses and marketers need to know!
Did any of the differences surprise you? Let us know in the comments below!
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