Today’s consumers are gradually having a different view of the views and values of previous generations. In fact, many older people are gradually adapting to today’s strongly digitalized life, while many young people are also tending to return to traditional values. As a result, we can see that, despite the generational gaps, similarities still exist, according to the Lifestyles of Generations report produced by Nielsen.
Nielsen’s report was conducted online with more than 30,000 respondents from 60 countries around the globe to better understand what needs to be different between generations. The results from this survey confirmed some traditional views but also broke others. This survey divided respondents into 5 different generation groups: Generation Z (Generation Z: 15 – 20 years old), Millennials (21 – 34 years old), Generation X (Generation X: 35 – 49 years old). , Baby Boomers (generation born during the population boom: 50 – 64 years old) and the Older Generation (Silent Generation: over 65 years old).
Here are just a few of the results based on this report:
TV STILL A POPULAR SOURCE FOR INFORMATION – EVEN FOR MILLENNIALS
Global consumers tend to combine information search by traditional methods and digital tools; However, in some generations, the way they find information will surprise us. It is not surprising that the report shows that most consumers over the age of 35 seek information primarily on television; but the survey also shows that this media is also popularly used by 48% of Millennials as well as 45% of Generation Z. Similarly, there are more Millennials than other generations interested in searching. search information on online channels, but it is also a popular source of information search (in the top 3) for all NTD generation groups – even NTDs over 65 years old.
TRADITIONAL VALUES IS CHANGING – BUT NOT AS MUCH AS WE THINK
When it comes to the ideal place to live, most young consumers choose to live in big cities/urban areas. More than half of young consumers from Generation Z (52%) and Millennials (54%) want to live in big cities or live in urban/peri-urban areas. However, young people are also not afraid to choose living areas in the suburbs but have favorable conditions for urban development. More than a quarter of young consumers (Z and Millennials) choose suburbs as the best place to live. Besides, the older generation chooses their ideal place to live in rural areas.
Money may not buy happiness, but the younger generation is ready to follow this theory. More than a third of Generation Z (37%) and 36% of Millennials put making money first to secure the future. And they don’t just expect salary income. About 3 in 10 young people aspire to have a career of their own (31% of Generation Z and 28% of Millennials).
Marriage and birth rates are declining in many countries, but not all young people are following the trend. Buying a house, getting married and having children are still important goals for many young consumers. In fact, about one-fifth of Gen Z and Millennials consumers consider buying a home; about 10% consider having a baby as one of their top 3 important goals in the future. Meanwhile, the older generation – who have already surpassed all of the above goals – put their focus on health (71%), family fun (50%) and travel (36%). ).
Other findings from the Nielsen survey:
- Older consumers are more influenced by technology in their meals than younger generations.
- Reading is the most popular habit for entertainment in the free time of Gen Z consumers – higher than playing games and interacting on social networks..
- Compared to Generation X, Millennials are twice as likely to leave their jobs after two years.
- 6/10 consumers in the Millennial generation go out to eat at least once a week, twice as high as the Baby Boomers generation.
- Young consumers say that they save their salary every month but they are not confident enough in their future financial ability.