The most important economic power today are neither the United States nor China, nor Russia, but babies with smartphones. The generation that is growing up right now is the reason why economists, researchers, and analysts have to adjust their mindset to in order to understand how the world will be changed by those born after 2010.
This is the first generation that will experience the 22nd century, climate changes of which we fear, but they will be the most influential generation after the baby boomers – Generation Alpha.
From Millennials to Digital Natives, and finally, Diversity Generation
Generation Y (born from the early 1980s to early 2000s), or Millennials are already in the past – now Generation Z enters the scene (born after 1998 until 2010), as they are in their crucial years, and their influence is growing. Generation Z, which was practically born with a smartphone in their hands, is the first generation of digital natives.
They were raised by Generation X during a severe economic crisis, the accumulation of debts, socioeconomic tensions and wars around the world. Therefore, the members of Generation Z are much less idealistic and more pragmatic concerning their views and opinions about the world that surrounds them and how it functions. Generation Z will be the most diverse generation so far.
Generation Z transcends race, gender, and sexual orientation. If we take fashion as an example, “normcore” appeared as one of the most important styles for this generation. Dull and boring, reduced to clothing without brands and screaming company logos, they are trying to build an identity without relying on the latest fashion trends. For marketers, this is a real challenge.
Due to accumulated debts that influenced their childhood, they are much more conservative. Research shows that already 46% of them are concerned about the debt and the lack of money. They see themselves as a slightly younger version of their parents – but with better technology and more debt. After Generation Z, the alphabet ends. What happens after that?
Generation Alpha – What’s the Difference?
Futurists and demographers, led by Mark McCrindle, call this new generation – Generation Alpha. The members of this generation were born after 2010 and each week their number increased by 2.5 million. They will grow up in a world without computer keyboards, not knowing that battery can be depleted in a couple of hours, unable to imagine any segment of your life without a smartphone, broadcasting their thoughts online in seconds. McCrindle says that the history of the world will never be changed so dramatically as during their lifetime.
Those who are born between 2010 and 2025 will be the part of Generation Alpha. This generation will be the first to use and communicate via the latest technologies in the earliest age than any generation before them. They will not think of technology as a tool, but as an inseparable part of their lives, integrated into every activity.
In addition to technology and climate, many other factors will change, so it is difficult to predict the direction in which civilization might go. Predictions of the United Nations say in 2028, India will overtake China in terms of population, and until then absolutely every household across the globe will be connected to the Internet. It is anticipated that India and China will become centers of Generation Alpha activities, especially after China had abandoned the policy of one child after 35 years. In Southeast Asia, technology will be more accessible than ever and young people will slowly but surely abandon the traditional values and adapt to global ideas.