Research proves that Generation Z will be the richest generation of all time

Children born between 1995 and 2010 will be the richest generation of all time. By 2031, Generation Z will surpass the earnings of the millennials, and in the following years this number will increase fivefold.

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Shopping Habits Generation Z

Rave Reviews comes up with an infographic in which it analyzes the spectrum of trends and conformations of the so-called Generation Z (ie young people born between 1995 and 2010) with a special focus on how and where they spend their income.

The first startling fact is that this generation will not only surpass the previous one in absolute wealth by 2031, but that it already has a purchasing power of $ 143 billion a year and will influence its household with another $ 127 billion in annual spending.

So far we have witnessed the enormous achievements of this generation, but how is it structured and what are the characteristics of this cross-section of society?

40 % American companies make up this extraordinary generation, and that says a lot about the health of the USA, which seems to be in good shape in the future. Generation Z is a very cosmopolitan cross section. Suffice it to think that 48 of the %s are non-white and 22 %s have at least one immigrant parent, compared to 14 of the previous generation %s.

Diversification does not only concern ethnic origin, but also culture and personal taste. It is the generation with the highest education and also the generation with the highest self-education. Added to this record is the fact that this is a very open generation, in which the LGBT + community represents one-fifth of the total number and 35 % of them prefer neutral pronouns to gender pronouns.

A generation that fights for ethics and political correctness

Openness to and diversification of others, combined with a propensity to save raw materials and a strong desire for a greener and more ethical world, make them from a human point of view, a model generation. 

The largest social networks are giving way to other platforms, so it has become popular that these users include Fortnite, Twitch, Roblox, TikTok, Instagram and YouTube, but also Snapchat and Discord.

These platforms have been assisted in recent years by the most popular artists of this generation, which has contributed to their popularity along with the fact that they use smarter and faster language than, for example, the outdated Facebook.

The most popular brands include brands with a more gender vision and less impact on the environment. They are even willing to pay up to twice as much to buy something with the same vision.

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