Move Over, Millennials
Courtesy of Michael Batnick
Not all young people share the same daily habits or the same views of the world.
Millennials are cutting the cord. Gen Z doesn’t know what the cord is. 45% of Millennials still watch broadcast tv, compared with 26% of 16-17 year olds.
Millennials play fantasy sports. Gen Z watches eSports. Only 18% of 18-24 year olds watch traditional sports, compared with 30% of Millennials.
According to a new report from BofA Global Research called OK Zoomer, “Gen Z will spend nearly 6 years of their life on social media. That’s more time spent than eating, studying & socializing combined.”
We’re all probably tired of hearing about Millennials. It’s time to shift our attention to the next generation, Gen Z. These are the 2.5 billion people born between 1996 and 2016.
Gen Z is the single largest age cohort, representing 32% of the global population,
Nine in 10 of these young people live in emerging markets…
…half a billion of them are in India, more than the combined population of Gen Zers in China and the United States.
While Gen Z is the largest age cohort, it’s not enough to offset the aging population in the rest of the world. According to Euromonitor, in the early 2030s, people over 60 will outnumber the population under 10. This will be the first time that’s ever happened.
Once we drill down a little, we see that demographics are not evenly distributed worldwide. Europe, an aging continent, is the only one with more people over 65 than under 15. Africa, on the other hand, has a ton of young people. 41% of the continent is under 15.
Demographics have big implications for everyone. It shapes societies. It transforms political systems. It makes economies run.
Check out the whole report if you want to learn more about where we’re going.
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