2024
9
US Marketing to Gen Z Market Report 2024
2024-05-16T15:08:10+01:00
REPB57770A9_AD00_486A_B041_94864046AAD1
3695
173041
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Report
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As Gen Z transitions into adulthood they are navigating this crucial period during a time of rapid societal, technological and economic change.Hiro Takemasa, Senior Consumer Lifestyles Analyst…

US Marketing to Gen Z Market Report 2024

£ 3,695 (Excl.Tax)

Report Summary

As Gen Z transitions into adulthood they are navigating this crucial period during a time of rapid societal, technological and economic change.

Hiro Takemasa, Senior Consumer Lifestyles Analyst

Table of Contents

  1. Executive Summary

    • Key issues covered in this Report
    • Overview
    • What you need to know
    • Consumer trends: key takeaways
    • Market predictions
    • Challenges
    • Opportunities
  2. Market Dynamics

    • Market context
    • Who are Gen Z and what has shaped them?
    • Gen Z by the numbers
    • A generation in transition makes Gen Z difficult to pin down
    • Graph 1: population, by generation, 2018-28
    • Gen Z: the future Gen X?
    • Graph 2: population distribution, by generation, 2018-28
    • Gen Z's diversity requires diversified messaging
    • Graph 3: generations, by race, 2023
    • Graph 4: generations, by Hispanic origin, 2023
    • Economics and life stage
    • Gen Z is compromising on home ownership
    • Graph 5: homeownership rate, aged under 25, 2004-23
    • Compromising on housing – Gen Z adults living with parents
    • Graph 6: housing situation, by generation, 2024
    • Gen Z continues the trend of choosing later in life to focus on family
    • Graph 7: median age of mother at first birth, 1980-2020
    • Graph 8: median age at first marriage, 2010-2023
    • Family life
    • US household structure continues to diversify
    • Graph 9: household composition – Gen Z teens, 2024
    • Gen Z teens acknowledge and accept parents' expectations
    • Graph 10: attitudes toward family pressure – any agree, by Gen Z teens and adults vs all, 2024
    • Gen X parents remain influential to their adult Gen Z children
    • Graph 11: parental influence – frequency of talking to a parent, by Gen Z adults vs all, 2024
  3. Consumer Insights

    • Consumer fast facts
    • Gen Z lifestyles – adults
    • Gen Z re-defines "adulthood"
    • Graph 12: household composition, by Gen Z adults vs all, 2024
    • Gen Z workers are feeling the burnout
    • Erratic behavior for an erratic economy?
    • Gen Z is reevaluating education due to social and economic disruptions
    • Graph 13: college enrollment rate, by 18-24s, 1980-2022
    • Cost a major factor in delaying child-rearing
    • Gen Z is a significant opportunity for both entry-level and high-end products
    • Graph 14: life circumstances and milestones, by Gen Z adults vs all adults, 2024
    • Contrasting generational perceptions
    • Adults, overall, rate Gen Z lower on key positive traits
    • Graph 15: difference in how adults see themselves vs how they see Gen Z (% point), 2024
    • Graph 16: how all adults see Gen Z vs how they see themselves, 2024
    • Gen Z' self-perception vs general opinions reveals a wide gulf
    • Graph 17: Gen Z adults vs all adults self-perceptions, 2024
    • Challenge the "slacker" stereotype by marketing to Gen Z's innovative spirit
    • Graph 18: how adults perceive different generations, 2024
    • Gen Z is saddled with typical reputation of youthful entitlement and impressionability
    • Consumers’ perceptions of older and younger generations vary
    • Shifting values – Gen Z strives to work smarter, not harder
    • Graph 19: generational descriptor – "hardworking" – differences, by Gen Z adults and Baby Boomers, 2024
    • Gen Z's social media usage amplifies sensitivity to external judgments and feelings of inadequacy
    • Graph 20: attitudes toward comparing self to others – any agree, by Gen Z adults and teens vs all, 2024
    • Cultural perspectives and self-expression
    • Family traditions remain important in the face of Gen Z's diversifying cultural identity
    • Graph 21: attitudes toward cultural influences – any agree, by Gen Z adults and teens vs all, 2024
    • Diversity and inclusion when messaging to Gen Z remains important
    • Graph 22: attitudes toward cross-cultural experiences – any agree, by Gen Z adults and teens vs all, 2024
    • Focus on common human experiences for effective diversity messaging
    • Graph 23: attitudes toward cultural qualities – any agree, by Gen Z adults and teens vs all, 2024
    • Empower Gen Z teens' identities through music, fashion and personal interests
    • Graph 24: Gen Z teens' expressions of identity (up to five selected)*, 2024
    • Digital spaces are key for Gen Z consumers' self-expression
    • Graph 25: feeling more authentic interacting in-person vs interacting virtually, by key demographics, 2023
    • 'Goal Girls' – Gen Z teen girls wrap their ideal future selves into their current identities
    • Graph 26: Gen Z teens' expressions of identity (up to five selected)* – the goals I have for my future, by gender and age, 2024
    • Black Gen Z teens express their identity through fashion and heritage
    • Graph 27: Gen Z teens' expressions of identity (up to five selected)* – select items, by race/ethnicity, 2024
    • Enable self-discovery to become emotionally embedded in consumers' sense of self
    • Graph 28: consistent vs evolving personal style, by generation, 2023
    • Free time and social media
    • Digital media are among Gen Z's favorite activities, but don't count out in-person socializing
    • Graph 29: most enjoyable activities (any rank 1-3)*, by Gen Z adults and teens vs all, 2024
    • Gen Z teens are highly connected and independent online
    • Almost all Gen Z use social media apps daily – usage divided over multiple apps
    • Graph 30: social media sites used daily, by Gen Z adults and teens vs all, 2024
    • Online branding to Gen Z must appeal to authenticity while navigating around negativity and bad faith
    • Graph 31: attitudes toward social media – any agree, by Gen Z adults and teens vs all, 2024
    • Boys will be boy gamers
    • Spending priorities
    • Gen Z adults prioritize spending that reinforces or crafts their identity – in ways that others can see
    • Graph 32: preferred leisure spending (any rank 1-3)*, by Gen Z adults vs all adults, 2024
    • Comparing past-year spending with splurge priorities may uncover latent or pent-up demand
    • Graph 33: past year discretionary spending priorities (any rank 1-3)*, by Gen Z adults vs all adults, 2024
    • Gender conventions still play a strong role in Gen Z teens' spending priorities
    • Graph 34: Gen Z teens' leisure spending categories (up to three selected)*, by gender, 2024
    • Gen Z teens' priorities for self-expression feeds their spending habits
    • Graph 35: Gen Z teens' leisure spending categories (up to three selected)*, by expressions of identity (up to five selected)* – select items, 2024
    • Stressors and concerns
    • Mental wellbeing continues to be a focus for teens and will be fundamental to how Gen Z approaches new life stages
    • Graph 36: teens' attitudes toward mental wellness (any agree), 2022
    • Academic performance outweighs other concerns for Gen Z teens
    • Graph 37: top stressors and concerns (any rank 1-3)*, by Gen Z teens, 2024
    • Management of time and relationships top concerns for Gen Z adults
    • Graph 38: top stressors and concerns (any rank 1-3)*, by Gen Z adults and all adults, 2024
    • Looking to the future
    • Younger consumers lead in knowledge and adoption of generative AI
    • Graph 39: familiarity and experience with generative AI, by age, 2023
    • Gen Z adults remain optimistic about their future
    • Graph 40: future expectations of living standards, Gen Z adults vs all adults, 2024
  4. Marketing Strategies

    • Opportunities
    • Authenticity is still key; but go deeper
    • Offer personalization and customization
    • Transition and chaos are opportunities for brands to help
    • Be nimble
    • Focus on principles that resonate with Gen Z
    • Successful marketing and advertising campaigns
    • Chipotle's effective outreach through TikTok
    • Long-term commitment enhances Dove's Real Beauty Projects credibility
    • Bold and edgy branding by Liquid Death
  5. Appendix

    • Market definition
    • Consumer research methodology
    • Correspondence analysis – methodology
    • Generations

About the report

This market report provides in-depth analysis and insight supported by a range of data. At the same time, introductory and top-level content is provided to give you an overview of the issues covered.

Market

Mintel provides a range of market information, frequently through the category level, including market size and forecasting, complete with market drivers that illustrate the forces that shape a category or market.

Consumer

Mintel’s proprietary consumer research provides our analysts with the attitudinal and behavioral data used to provide valuable insight to topical issues.

Brand/Company

Mintel provides overviews of the top brands and manufacturers, and uses consumer research to explore attitudes and reactions to brands, as well as insight into what will resonate with consumers.

Data

Market reports provide appendices of data to support the research and insight produced. Our databooks* are easily manipulated and downloadable to support your research needs and covers factors from consumer attitudes to market forecasts.

*databooks not available with UK B2B Industry reports.

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