The unavoidable passing of time impose on society to get used to the continuous generational changes. The well-known millenials generation (people who were born from 1980 to 1995) is making way for those who will manage the global economy in a decade: the Z generation. Its date range is not clear, but it is said to be from 1995 to 2010.
In 2030, the people from Z generation will have reached the thirties. It is expected that their income will exceed the €33 trillions. This can be translated as 27% of the global income, so they would become in the most economically influential group, surpassing millennials. Therefore, the market should be adapted to their demands. This makes us ask ourselves: what are the members of Z generation like? Which types of products they demand?
Environmental and technological revolution
The Z revolution will be the ESG revolution. The so-called zilleanials are not only interested in what is produced, but how. For the majority of this generation, the end does not justify the means, especially when talking about environment. Everybody has recently seen young activists like Greta Thumberg and her followers demanding politicians to listen their opinion about environment. As an example, in the fashion sector, young people bets on ecological brands like Ecoalf, which perfectly represents their thought under their slogan “Because there is not planet B”.
The Z generation is also a revolution from the technological point of view. This affirmation can be stricking, as the millennials used to be the technological natives. However, los zillennials not only will know how to use technology, but they will not be able to live without it. Digital means of payment, for example, will completely replace cash, forcing all businesses to adapt to this new paradigm. They also show a clear interest in technology for their finance management. Therefore, it is expected to be a boom of neobanks in the near future
The health, the core
Health will be also a priority for zillennials, as in the recent years they have brought English words like real fooder. Healthy diet and sport will become great opportunities for entrepreneurs looking for broad market niches. However, businesses such as processed-food, alcoholic drinks and other harmful products will be obliged to be reinvented.
The automotive sector will be also affected. 31% of the Z generation members think that going into debt to buy a car is totally innecessary. Therefore, alternative solutions such as car service per minute will be a boom in the near future. Share Now is a clear example of that companies, which is in Madrid and other big cities.
New concept of “car”
Zillennials not only have little interest in getting into debt by buying a car, but many of them are not even interested in getting a driver’s license. Theyare eagerly awaiting the introduction of autonomous cars in the marketplace. In addition, since the Z generation is committed to the environment, its members will bet heavily on electric cars. This will be a great opportunity for electric car manufacturing companies, and also for companies producing charging stations, such as Easy Charger.
It is a new form of consumption based on ESG criteria and technology, which will mainly affect sectors such as the automotive, food and finance industries. This is what the zillennials’ revolution will entail. At Fellow Funders, we bet on our financing round for several startups with a clear ESG and technological approach. We know that every company that wishes to success, must be a foresight. Finally, we know that, in the next decade, the future is written with a Z.