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Factoids

Factoids offer brief snapshots of current topics pertinent to the Furniture industry based on our on-going research. Increase your grasp of current trends, consumer attitudes, and shifts within the industry through solid statistics and concise insight.

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Factoids

Generation Z – The iGeneration Population, Age, and Ethnicity

During the next five years, over 20 million consumers tagged as Generation Z will pour into young-adult status with the leading edge surpassing the age of 21 this year, graduating from college and entering the workforce. This is the first factoid in a series of four factoids detailing the demographics and shopping preferences of the newest adult generation.

Researchers have been non-committal in defining the actual end of the Millennials and the beginning of Generation Z (also being called the iGeneration or iGen), but recently the generational research giant Pew Research Center has defined this cohort as being born between 1997 and 2012, a period of 16 years, matching the year span of Millennials and Gen Xers. Based on current estimates from the U.S. Census Bureau, Generation Z is currently about 8% smaller than Millennials and roughly 2% larger than the older Gen Xers, who are predominantly their parents. The impact of future immigration will swell their ranks further.

Ethnicity 

Generation Z is the most ethnically diverse of all the generations preceding it. 48% of 6 to 21-year-olds in 2018 (Generation Z) are non-white, significantly more compared to 39% of Millennials in 2002, 30% of Gen Xers in 1986 and 18% of Early Boomers in 1968. As immigration continues to impact Gen Z, they are projected to become even more ethnically diverse falling below 50% white in the future. Because of this diverseness, early indications are that they are less judgmental and more accepting of cultural differences.

Source: U.S. Census Bureau, Population Statistics; “Uniquely Gen Z,” IBM Institute for Business Value (IBV)



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Generation Z, Most Ethnically Diverse Population of 67 Millionhttp://hfbusiness.com/hfbnow/ArticleID/19520/generation-z-most-ethnically-diverse-population-of-67-million
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