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Mar 24 2020
The Coronavirus pandemic is affecting the lives of young consumers in new and unique ways, swiftly creating a new reality that they are being forced to adjust to—and that will have long lasting and serious effects on these generations. Brands need to be prepared to face a changed group of young consumers.
YPulse is carefully monitoring COVID-19’s impact on young consumers, from teens to Millennial parents, and how brands can respond. We’ll be providing new data and insights for you weekly to cope with the crisis, including: soon-to-be-released special reports, exclusive data on Coronavirus and the next generations, and actionable insights on what brands need to be doing now.
Over the last two weeks, we’ve twice surveyed 1000 13-39-year-olds to see how they’re feeling about the pandemic, and how it is changing their behaviors and daily lives—from their activities to their spending. Our research shows that 93% of young consumers now say they have been impacted by COVID-19, a serious increase from the 63% who felt impacted just the week before, pre-quarantine rules. The staggering number of young consumers who feel affected by the crisis means that every single brand that targets these groups needs to take meaningful action to address their concerns, or help them navigate these uncertain times.
Despite the headlines about young generations ignoring the threats of the virus, Gen Z and Millennials are not feeling immune. Instead, anxiety over the pandemic has also increased significantly, and cautious and anxious are the two top emotions that Gen Z and Millennials are having about Coronavirus—while only 19% of them feel prepared. Of course, their everyday behaviors have shifted drastically, with three in five reporting that COVID-19 has changed how often they go out in public, and half saying they have stocked up on food/supplies at home. For a closer look at how Gen Z and Millennials’ behavior has been quickly changed by COVID-19, check out our full infographic below. We’ll be regularly releasing more data on the pandemic’s impact on young consumers, and how brands can react, as this crisis unfolds.
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