GENERATION Z: ANALYSIS OF ITS PURCHASING AND PAYMENT BEHAVIOR
Research Article
GENERATION Z: ANALYSIS OF ITS PURCHASING AND PAYMENT BEHAVIOR
ABSTRACT
The main purpose of this paper is to analyze the behavior of the young Generation Z in the purchase and payment process. Generation Z (Zoomers, Gen XD, iGeneration, Baby Bloomers) were born in the period between 1997-2012, or they are 11-26 years old in 2023. Why is this Generation a challenge for marketers today? This generation is becoming the largest diverse youth population, consisting of students and professional freelancers, with a readiness to enter the workforce, holding a large amount of spending power and equipped with technological knowledge. According to statistics, it constitutes 1/3 of the total world population or approximately 2 billion people. Although this generation does not earn a lot of money, it spends a lot and is called „Spenders of tomorrow“ that is very important for companies. It has totally different fundamental values from the previous generations, such as the Silent Generation (1928-1945), Baby Boomers (1946-1964), Generation X (1965-1980) and Generation Y- Millennials (1981-1996), as well as from the next generation Alpha (2013- ). In terms of technology, this is a generation that has known the Internet since childhood and is considered digital natives. Gen Z has its own features in the purchase and payment process that are very different from the patterns that have been recognized in the market so far. For this paper, extensive primary research was done, which included 107 representatives of Generation Z, mostly students. It is expected that the paper will confirm the stereotypical characteristics of this generation, but certain deviations will also be noted.
DIMITRIESKA, S.,
&
PARNARDZIEVA STANOEVSKA, E.,
&
B. DANEVSKA, A.,
(2023). GENERATION Z: ANALYSIS OF ITS PURCHASING AND PAYMENT BEHAVIOR. Trends in Economics, Finance, and Management Journal, 5(1), 1-10. Arrival Date Posted By:https://tefmj.ibupress.com/articles/generation-z-analysis-of-its-purchasing-and-payment-behavior
