Thursday, July 25, 2024

Gen Z: A Report on Living and Financial Habits


Thunes report on Gen Z or Zoomersconsumers between 16 and 24 years old, discloseslifestyle, purchasing habits and finances of the smartest digital technology, As well as the most populous generation in the world.

Gen Z and Thunes survey of 6,500 young people in 13 countries

thunsa global payments company operating in 126 countries around the world, conductedA survey to study the behavior of Generation Z, young people aged 16-24 years, in their lifestyle, shopping habits and financial habits.

The interview included Ben 6,500 young people in 13 countries, advanced and emerging, and reveals how much of a generation has never known life without the internet and smartphones, and thus is an expert in digital technology, force change A practice that is no more than 10 years old.

Among the highlights, There is Gen Z involvement in social media While they lead their daily lives, but also for shopping during, such as Payment method Mobile wallets seem to be gaining more and more ground at the expense of cash.

Not only that, but the report highlights that Zoom a generation of buyers. In all markets examined, Shopping accounts for the largest share of their spending, Before entertainment, events and dining out.

Generation Z: The generation of social media and mobile payment methods

According to the data, Generation Z is the generation most influenced by social media, compared to others. An estimated 8 in 10 said they use social media on multiple occasions throughout the day.

Three-quarters of Zoomers also check in multiple times a day in emerging markets, and two-thirds of them say they have purchased products they first discovered online.

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but there is more, Social media is also where Generation Z not only spends but also generates their money, With a growing range of content monetization options offered by TikTok, YouTube, Patreon, Clubhouse and Twitch.

In terms of money management and mobile wallets, Zoom tools tend to avoid traditional financial tools and prefer innovative ones. In fact, 62% of Generation Z do not have bank accounts, while mobile wallets are growing rapidly And in some emerging markets, nearly 50% of Zoomers now use this type of account.

A generation more devoted to shopping than entertainment

Perhaps for easy one-click online shopping, Generation Z is estimated to be the generation that spends 19% more money on shopping than just hanging out, socializing and eating out.

about it, Peter de CallowayThunes CEO said:

“For many, Generation Z is a misunderstood and neglected generation. This is a generation that considers “dial-up” and “desktop” meaningless words that think not only of “mobile first”, but live and breathe in apps, social media, digital platforms and soon – the metaverse We have to start taking this generation seriously because the revenues and strategic plans of many companies – especially those that rely on rapid growth – depend on it.”

Not only that, De Caluwe points out that not only is social media an essential part of Zoomer’s daily life, but this research has helped reveal that a measure of how this indicator is driving this generation’s spending activity.

CBDC Experiences

The central bank digital currency will be the new digital currency that will replace the traditional form

If payment methods for the generation of more than 2.5 billion people in the world prefer digital with mobile wallets, over traditional cash and checking accounts, perhaps To comply, countries are also going ahead with trials of a central bank digital currency, or CBDC.

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Nothing to do with Bitcoin, Ethereum and the decentralized crypto worldbut for some time we’ve been talking about it The digital pound, and most recently the digital dollar.

In fact, just this week, a group of US parliamentarians Presented in the Senate, Electric Currency and Safe Devices Act (ECASH) Which, along with overseeing the Electronic Currency Innovation Program (ECIP), will move forward to Assessing the feasibility of a digital issuance of the US dollar.

This is clearly a process that will have its time before it is said to be “complete”. In fact, the new bill bears the signature of a Massachusetts congressman Stephen F LynchHead of the Fintech Task Force, will do Just take this one step further Towards the first real field test of the first digital dollar issuance.


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