They comprise a quarter of the global population, 40% of consumers (McKinsey), 14% of Chileans (INE), and by 2025 will make up 27% of the world’s workforce (A GEN Z Report, 2023).

Highlighted last month as the richest generation in history by The Economist, Gen Z, centennials, or zoomers – aged between 12 and 27 – already have better credit approval in Chile than their predecessors, as a result of reduced familial responsibilities and diminished debt burden (El Mercurio).

They learn from videos and tutorials in a less cognitive process, with more trial and error. Some view this as a setback, as for the first time a generation has a lower intelligence quotient than their parents (A reversal of the Flynn effect, 2015).

In our country, 46% report mental health issues and perhaps due to the threat of extinction – so present in their lives – they aspire to acquire ‘experiences’ and embrace a YOLO lifestyle (“You Only Live Once”). Their “Undefined ID” (without labels) gives them the freedom to feel, for example, that they have a different gender than they were born with. 79% are satisfied with their family relationships and define their parents – who have abandoned the authoritarian paternal model – as their friends.

They advocate for radical inclusivity to connect with other truths. Virtuality results in their social skills being less developed, and they feel pressure on how to project their image on social media. They are less likely to consume alcohol and have sex, their relationships are less formal, and 32% claim they won’t have children.

Gen Z feels confident about creating the future they desire; they are pragmatic, identity-driven, rebellious, challenging, and global. 71% believe that money DOES bring happiness (Cadem, 2024), which explains why they opt for better-paid careers (STEM) or question taking on debt for studies, if they can end up in a job that doesn’t require a degree. Many opt to get certified in trades aligned with the most in-demand skills (The Economist, 2024), and even in the USA, they have returned to jobs like plumbing or electricity in search of greater job security (Jobber, 2024).

They demand authenticity from brands, prioritize face-to-face relationships with sellers, and it’s TikTok – with its millionaire influencers – that is currently driving them towards immediate purchase.

They prioritize their well-being, enjoy teamwork, clear rules, and compassionate leadership. They prefer a mentor to help unlock their potential rather than a boss. In fact, only 35% aspire to be part of senior management (Visier, 2023), as they avoid stress and pressure. They seem to be a more cautious generation, more inclined towards institutionalization rather than undertaking or innovating. They adapt quickly to new scenarios, a key entrepreneurial skill to survive the new economic context that they themselves are establishing, where their impact on new forms of consumption and labor relations is already evident.

Mónica Retamal F.
Executive Director Kodea NGO