On March 9, Snapchat released a new 50 page report in partnership with Oxford Economics where they see how Gen Z will drive the post-pandemic recovery and digital economy. Although the first thought one might have is, how or why might Gen Z care about HVAC? Well, as with any young people from any generation, they will grow up to be full functioning adults, so it never hurts to see how to see how this generation will eventually shape the business landscape in the future.
Six different markets were looked at in this report:
- Australia
- France
- Germany
- The Netherlands
- The UK
- The United States
The report covered key trends and shifts within younger consumers, such as their reliance on digital platforms and their connectivity in their online interactions.
Oxford’s researchers found that:
- Gen Z will support $3.1 trillion of spending in the markets studied by 2030, driving the economy
- The global AR market is projected to expand four-fold by 2023.
- Technology and COVID-19 are set to transform skills demand, with the majority of jobs to require advanced digital skills
- A greater emphasis will be put on skills such as agility, curiosity, creativity, critical thinking and problem solving, which play to the natural strengths of Gen Z
Source – Social Media Today
