Born between 1994 and 2015, today's youth grew up during the height of the 2008 global recession and are the first generation not to live life before the internet. With diversity, the environment, and equality as core values, Generation Z isn't afraid to use the web to speak up about what they believe in. This has created a misunderstood and often maligned group of YouTubers and TikTok creators, online business owners and hyper-connected individuals who have grown up with technology at their fingertips. There is much speculation about how the seismic events of 2020 will come to define the challenges and opportunities for this first true generation of digital natives, but what is already clear is that they will have an impact. huge in the business world. Only time will tell what this new future will look like, but some key defining characteristics are already beginning to shape how this generation will challenge the status quo.
Generation Z is informed
Democratizing access to information and resources is something most young people have never had to live without. They research answers, learn new skills through online tutorials, join movements, and connect with like-minded people based on passions and causes, all in seconds. It has fundamentally changed the way this generation educates itself and subsequently forms its own opinions, in all areas of their lives.Gen Z is resourceful
Generation Z is not only aware of the countless opportunities that the connected world offers, but is actively using them. For example, data from the Pew Research Center showed that 95% of Gen Zers have access to a smartphone, many of whom use connected technology to keep in touch with far-flung friends and family and to express themselves. , while the more entrepreneurial see the potential of using connected technology to earn more money online. As the first truly digital natives, they know that all you need to start a business is an Internet connection, and many of them do. In the past, certain social, geographic, and economic factors would have hampered those less fortunate, especially when it comes to relaunching their entrepreneurial journey. Now, with knowledge flows readily available and the effects of COVID on youth career paths, Gem Consortium data shows that 54% of Gen-Z are now looking to start entrepreneurial activities, while more than 15% of People ages 18-24 in the United States are already actively involved in starting a business. Now, these young people are using social media for great exposure and opportunities, building their own brands from the ground up, with little to no physical footprint, through the time and effort they put into growing their presence. online. For example, as part of Deutsche Telekom's recent #WhatWeDoNext campaign, the brand showcased the work that 23-year-old Anna-Laura Kummer from Austria has been doing in the field of sustainable fashion. This young entrepreneur is using technology and social media to not only launch her own sustainable clothing brand, but also to advocate for more sustainable business practices across the industry. Another contributor, Philipp Kalweit, 19, is a renowned hacker and computer security expert. Having taught himself to code at a young age, he founded his own cybersecurity business and earned a spot on Forbes' "30 Under 30" list.Generation Z drives innovation
The influence of Generation Z is becoming increasingly evident in the workplace as it begins to take companies in directions no one could have predicted, solving ever tougher problems and fueling new innovations. . Much of the evolution of business models will be from the perspective of Generation Z. Not only are they already familiar with the tools used within organizations, but they are using the latest connected technologies to be able to participate and collaborate remotely. That in itself is a big change from the traditional 9 to 5 office models on which so many workplaces have traditionally been based. It will be interesting to see how the disruptions to traditional work models brought about by the global COVID-19 pandemic play out, especially with Gen Z as the driving force for change. As the breadth of the “FridaysforFuture” movement around the world demonstrates, this young generation is demanding more. More governments, more companies, more brands. And they are showing enormous digital optimism about the role of connected technology in their lives. Some of our own research this summer shows that 75% of European Gen Z believe that social media helps them stand up for what they believe in, while 86% say that connected technology has an important role to play on issues of overall sustainability.Generation Z is a force for change
When this commitment to its principles is tested, this is where we start to see some really exciting examples of the potential of young people and their belief in the power of connected technology to drive innovation. Feeling the need to always be connected online creates pressure to change your appearance, follow trends, and buy new clothes more often than necessary. At the same time, many young people are convinced of the impact on sustainable development, from ethical manufacturing to waste, etc. This has led to a huge boom in alternative consumption patterns, with many turning to renting, reselling and saving. Some clothing brands now offer subscription services that allow customers to rent items for a monthly fee. Thriving platforms like Depop (part social food, part fashion marketplace app) offer a 'more inclusive, diverse and less wasteful' approach to shopping. Dress-X took this backlash against unsustainable "fast fashion" further. The site, which describes itself as “the world's leading multi-brand digital fashion retailer”, features a range of digital fashion collections from renowned contemporary brands and 3D designers. All available for purchase, these items only exist digitally, allowing shoppers to wear the latest styles without impacting the environment, all made possible by the power of connected technology. If anything defines Gen Z, it seems to be tenacity, creativity, and an unwillingness to accept the status quo when they can envision a better future for all. That's why companies around the world should look to support the younger generations, while learning from them and their unbiased ways of viewing the world. That being said, we should all be very happy to see what Generation Z will achieve next, which is why we at Deutsche Telekom are definitely here for this Generation, and very happy to see what they do next.- Wolfgang Kampbartold, Vice President of Communications for International Markets, Deutsche Telekom.