2023
9
UK Lifestyles of Generation Z Market Report 2023
2023-03-18T03:09:00+00:00
OX1157485
2195
161602
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Report
en_GB
“From new jobs and businesses to purchasing first houses and getting married, Generation Z expect to experience a number of major life events in the next five years. And while…

UK Lifestyles of Generation Z Market Report 2023

£ 2,195 (Excl.Tax)

Description

Discover the latest Gen Z trends and how they are impacting the industries catering to Gen Z in the UK. Our Gen Z Report 2023 is packed with valuable insights on Gen Z data, Gen Z statistics, and the Gen Z lifestyle. With this report, you’ll have the knowledge about Gen Z facts to stay ahead of the competition and keep your business growing.

Frequently Asked Market Research Questions About Gen Z

Who are Gen Z?

Generation Z, or colloquially Gen Z, refers to the generation cohort that was born between 1997-2010, succeeding Millennials. Gen Z grew up with technology, social media and the internet and can be described as digital natives.

How many Gen Z’s are in the UK?

Mintel’s data shows that there are approx. 10 million Gen Z’s in the UK, which accounts for around 15% of the population.

What are the characteristics of Gen Z?

Gen Z is often portrayed as the most socially and environmentally-conscious generation. Although Mintel’s data shows that this generation does care deeply about these issues, it also shows that living more sustainably isn’t Gen Z’s top priority. Improving appearance, travelling abroad, and pursuing hobbies all rank higher in priority than acting sustainably.

UK Gen Z Overview

According to Gen Z data, this generation are an ever growing group of the population, and they are increasingly gaining more financial independence and more spending power. Consequentially, they are becoming an increasingly important group for brands to understand and target.

Mintel’s lifestyle of Gen Z market research shows that the rising cost of living will have a varied impact on Generation Z. Many Gen Zers will be partially insulated from the more significant impacts of high inflation as their parents are still responsible for spending on housing, energy, and food/drink costs. Because of this, Gen Z statistics show that they generally report healthier financial situations than Millennials and Gen X. However, financially independent UK Gen Z with lower incomes and little/no savings, as well as students, will feel a significant strain on their finances and their Gen Z lifestyle.

Gen Z Lifestyle: What Consumers Want and Why

Mintel’s lifestyle of Gen Z market research identifies four key priority areas that Gen Zers are planning to focus on over the next year: Managing their finances, taking care of physical and mental health, and spending time with family and friends.

With these priorities in mind Mintel’s generation Z lifestyle market report points out that in spite of media perceptions that Gen Z are the greenest generation yet, living more sustainably is actually near the bottom of their priority list. According to Gen Z facts, one in five Gen Zers are focusing on being more sustainable, but more are looking to improve their appearance, travel, and pursue their hobbies. One of the biggest takeaways from Mintel’s Gen z report is that they are a multi-faceted group of young adults and are just as interested in typical things that young adults before them were, such as looking good and having fun.

Gen Z Statistics UK

  • Gen Z Trends: 45% of Gen Z are prioritising taking care of their mental wellbeing over the next year.
  • Gen Z UK Consumer Behaviour: 61% of Gen Z women are placing even more focus on managing their finances compared to their male counterparts, e.g. adding to savings.
  • Challenges for Gen Z in the UK: Due to the current inflationary environment and subsequent rise in the cost of living consumers are adopting more cautious mindsets. 42% of Gen Z expect to cut back on luxuries and non-essential products as a result of rising prices.
  • Opportunities for Marketing to UK Gen Z: 66% of 18 to 24-year-olds turn to online sources for stress management advice. Brands can offer such services to young adults to tackle their mental health issues.

Lifestyle of Gen Z Market Research: Opportunities to Market to Gen Z in the UK

Gen Z statistics show that they are gaining more financial independence and financial responsibility for paying for their own clothes, toiletries, holiday, and more. This opens up opportunities for brands across these sectors to continue to understand, and provide, what the Gen Z lifestyle means and what consumers are looking for.

With physical and mental health among Gen Z UK’s top priorities, brands have opportunities to support them with their needs, e.g. managing the factors that cause them the most stress, such as social media. Overall, brands need to provide Gen Z with security and control over their futures, and support them throughout the many uncertainties in their lives. Aligning with Gen Z statistics, brands across multiple sectors can empower young adults to improve their finances and health, and connect with loved ones.

To discover more about the Gen Z Lifestyle, read our British Lifestyles Market Report 2022, or take a look at our extensive Consumer Lifestyle Market Research.

Quickly Understand Gen Z Data

  • Demographic and market factors impacting the Gen Z lifestyle.
  • Generation Z’s priorities for the next year, and next five years.
  • Financial responsibility of Generation Z’s lifestyles.
  • Social lives of Gen Z in the UK.
  • Generation Z’s view on tradition.
  • Generation Z’s outlook for their own and the world’s future.

Covered in this Report

Products: Clothes, Toileteries, beauty products, mobile phones, food (eat-at-home, restaurants, foodservices), transportation (cars), entertainment (cinema, streaming services), holidays, housing/accommodation.

Brands: H&M, Adidas, Netflix, Louis Vuitton, Supreme, TikTok, L’Orèal (Maybelline), O2, Snapchat, Woo, ITV, and many more.

Expert Insights into Gen Z Statistics UK

This report, written by Francesca Smith, Senior Consumer & Lifestyles Analyst, delivers in-depth commentary and analysis about Gen Z data to highlight current Gen Z trends, and adds expert context to the numbers.

From new jobs and businesses to purchasing first houses and getting married, Ge Z UK expect to experience a number of major life events in the next five years. And while they display a positive outlook for their own future, the era of political, economic and climate uncertainty that they have grown up in is making this transitional period more difficult. Brands need to provide Gen Zers with a sense of control and support them with short- and long-term goals including a strong focus on improving their finances, their physical and mental health and connections with loved ones.

Francesca Smith

Senior Consumer & Lifestyles Analyst

 

Table of Contents

  1. Overview

    • Key issues covered in this Report
  2. Executive Summary

    • The market
    • Gen Z make up 15% of the UK population
      • Figure 1: UK population estimates, by generation, 2021
    • The consumer
    • Gen Z have high life satisfaction
      • Figure 2: Life satisfaction, by generation, 2022
    • Gen Z have four key short-term priorities…
      • Figure 3: Gen Z priorities for the next 1two months, 2022
    • …and a busy five-year plan
      • Figure 4: Gen Z’s plan for the next five years, 2022
    • Gen Z are gaining more financial independence by the year
      • Figure 5: Gen Z financial responsibility, 2022
    • Going out for food is Gen Z’s favourite pastime with their friends
      • Figure 6: Social activities of Generation Z, 2022
    • Online relationships are the norm for Gen Z
      • Figure 7: Gen Z online behaviours and enjoyment of alcohol, 2022
    • Gen Z want to celebrate their achievements
      • Figure 8: Gen Z views on traditions, 2022
    • Gen Z are optimistic about their future
      • Figure 9: Gen Z’s outlook for the future, 2022
  3. Issues and Insights

    • High inflation will have a varying impact on Gen Z’s finances and lifestyle
    • Gen Z are in a transitional period and making major life decisions
    • Challenge what you think you know about Gen Z
  4. Market Drivers

    • Gen Z make up 15% of UK population…
      • Figure 10: UK population estimates, by generation, 2021
    • …and are more diverse than the generations before them
    • Inflation remains the key concern for consumers and brands in 2023…
    • …but many Gen Zers are insulated from inflation-related concerns
      • Figure 11: Issues faced by Gen Z consumers in the last two months, UK, 2023
    • Consumers’ financial wellbeing has fallen, and consumer spending will be curbed
      • Figure 12: Household financial wellbeing index, 2016-23
    • Unemployment is at a near-50-year low
      • Figure 13: Unemployment rate for 16-24 year olds and 16-64 year olds (seasonally adjusted), UK, 2013-22
    • University students are among the hardest hit
    • The first generation to have grown up online
  5. Life Satisfaction

    • Gen Z are among the most content with their life
      • Figure 14: Life satisfaction, by generation, 2022
    • Gen Z males are more satisfied than females
      • Figure 15: Life satisfaction, by generation and gender, 2022
  6. Priorities for the Next Year

    • Gen Z have four key priority areas
      • Figure 16: Gen Z priorities for the next 1two months, 2022
    • Gen Z are prioritising their physical and mental wellbeing
    • The (not-so) sustainable generation?
  7. The Five-year Plan

    • Gen Z are on the brink of making major life decisions
      • Figure 17: Gen Z’s plan for the next five years, 2022
    • Career is the top priority for Gen Z
      • Figure 18: Gen Z planning to get a job/a new job in the next five years, by employment status, 2022
    • The rise of the side hustle
    • Marriage and children are on the cards for a fifth of Gen Z women
      • Figure 19: Gen Z’s that plan to get married or have a/another child in the next five years, by gender, 2022
  8. Who Pays for What?

    • Gen Z are assuming more financial responsibility by the year
      • Figure 20: Gen Z financial responsibility, 2022
    • Gen Z women are more financially self-sufficient and are influencing fashion and beauty brands
      • Figure 21: adidas Sportswear label, 2023
    • TikTok boosts beauty sales
      • Figure 22: Gen Z paying for selected categories themselves, by gender, 2022
    • Parents protect some Gen Zers from rising cost of living
      • Figure 23: Who pays for Gen Z’s utility bills, by housing situation, 2022
    • Flexible payment options and set-jetting appeal to the Gen Z traveller
  9. The Social Lives of Gen Z

    • The next generation of foodies
      • Figure 24: Social activities of Generation Z, 2022
    • Online socialising is the norm for Gen Zers
      • Figure 25: Gen Z online behaviours and enjoyment of alcohol, 2022
    • Brands need to cater to Gen Z’s varied relationship with alcohol
    • Competitive socialising taps into experiential leisure trend
  10. Gen Z’s Views on Traditions

    • Gen Z appreciate celebration of milestones
      • Figure 26: Gen Z views on traditions, 2022
    • Gender stereotypes are getting old…
    • …but the value of marriage is not completely lost on Gen Z
  11. Outlook for the Future

    • Gen Z are optimistic about their own future…
      • Figure 27: Gen Z’s outlook for the future, 2022
    • …but the global outlook weakens
      • Figure 28: ‘I am optimistic about the world’s future’, by financial situation (net), 2022
    • Brands need to provide Gen Z with security and control over their futures
  12. Appendix – Data Sources, Abbreviations and Supporting Information

    • Abbreviations
    • Consumer research methodology
    • Data sources

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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