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Roger Lee, Courtney Chow, Isabel von Stauffenberg  |  August 24, 2023
The Gen Z Consumer Tech Wave Is Coming – Here’s What We’re Tracking

Generational change is an inevitability, particularly where technology is concerned. The fact that you’re (most likely) reading this post on a computer or smartphone is indicative of how much has changed since Battery was founded 40 years ago, when such devices–let alone more advanced technologies like artificial intelligence–were little more than a theory.

Today, technology is a fixture of every aspect of our lives: a trend that will only accelerate from here, thanks to the voracious digital appetite of Generation Z. Last year, Gen Zers–born between 1997 and 2012–surpassed millennials to become the most-populous generation on earth, representing more than 25% of the global population and an estimated $360 billion in purchasing power.

We believe that the advent of Gen Z presents a new paradigm for businesses and markets worldwide. Gen Zers aren’t your typical consumers: raised on technology, driven by a fresh set of societal norms and highly informed, Gen Zers are dictating trends and setting new standards. Their influence is increasingly permeating every market, heralding transformative changes.

As we reckon with the potential of this new generation to reshape industries, from finance to health, housing, entertainment and retail, today’s businesses must quickly adapt to Gen Zers’ materially different preferences and behaviors compared with other generations and pivot accordingly.

To that end, we compiled a new report, “Understanding the Next Generation of Consumers: A Gen Z Snapshot,” to illustrate the sectors and industries in which Gen Zers will have the most impact–and, accordingly, the opportunities we see for technology investment.

This report offers an in-depth look into what truly drives this dynamic demographic and how their values and preferences are altering the business landscape, focusing on Gen Zers’ distinct buying patterns and outlooks across major consumer verticals.

Recognizing and deciphering these trends is more than just understanding a new consumer base–it’s about future-proofing businesses and investments in an ever-changing landscape.

View full report here:

This material is provided for informational purposes, and it is not, and may not be relied on in any manner as, legal, tax or investment advice or as an offer to sell or a solicitation of an offer to buy an interest in any fund or investment vehicle managed by Battery Ventures or any other Battery entity.

The information and data are as of the publication date unless otherwise noted.

Content obtained from third-party sources, although believed to be reliable, has not been independently verified as to its accuracy or completeness and cannot be guaranteed. Battery Ventures has no obligation to update, modify or amend the content of this post nor notify its readers in the event that any information, opinion, projection, forecast or estimate included, changes or subsequently becomes inaccurate.

The information above may contain projections or other forward-looking statements regarding future events or expectations. Predictions, opinions and other information discussed in this publication are subject to change continually and without notice of any kind and may no longer be true after the date indicated. Battery Ventures assumes no duty to and does not undertake to update forward-looking statements.

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