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MZ generation is a term commonly used to refer to the Millennials, which was born in the early 1980s and early 2000s, and Z generation, which was born in the mid-1990s and early 2000s. In other words, the MZ generation, ranging from 15 to 39, has 12,713,000 people, accounting for about 24.4% of the Korean population.

=The difference between the previous generation and MZ generation= Z generation is the next generation to the Millennials. 'Z' is the last letter of the alphabet, meaning the last generation born in the 20th century. There is no exact standard for dividing generation. Usually, people born before 1984 are called X Generation, born after 1984 are called Millennials, and the generation born after the mid-1990s is called Z generation. As of 2020, those under the age of 24 are still students or new to society. They look like the 'young millennials', but they have a lot of differences in their mindset and lifestyle.

Media usage
MZ generation, which has been exposed to digital culture since birth, is known as a generation that is familiar with digital media devices and has natural communication through SNS. In particular, differences appear in the channels used to acquire purchasing information.

Prior to purchasing a product, the preferred route to obtain purchase information was 'portal site search'. The percentage of respondents who answered 'portal site search' was the highest, except for the Baby boomer generation. The purpose or method of using media devices of Millennials and Z generation is expected to be more diverse throughout daily life, including media content consumption, communication, information acquisition, and purchase.

=Z generation features=

Digital Native
"Online community members are friends." While non-face-to-face communication is increasing due to the spread of the COVID-19, Z generation is more open to online relationships than other generations. This is the result of a comparative survey of 1,200 men and women aged between 15 and 59 in the '20th University Tomorrow Research Institute', which divides them into Z generation(ages 15 to 24), Millennials(ages 25 to 39), X generation(ages 40 to 50), and 86 generation(ages 51 to 59) and their perceptions and values of self, relationships, society, the world, and life by generation. When asked about the types of relationships that each generation considers "friends", 22.3% of Z generation said they consider "Online community members" to be friends. This was higher than the response rates of the Millennials(14.3%), X generation(10.7%) and 86 generation(11.3%). The percentage of people who consider "SNS followers" as friends was also 22%, higher than other generations. Since birth, Z generation, a "digital native" who is familiar with the online environment, has naturally accepted the relationship between digital and reality without distinguishing it. Born in early 2000 with the information technology boom, they grew up in a fully digital environment such as the Internet since childhood and never experienced an analog environment. Not only are we sensitive to new technologies and changes, but we are also actively using them for consumption activities. For example, online purchases of electronic devices such as clothes, shoes, books, record, and game consoles all exceed 50%.

Individualistic propensity
According to 'Daum Soft's analysis of Z generation big data', "personalized service", "eating alone(honbab)", and "self-centered" were the most likely keywords to explain Z generation. This gives a glimpse of the tendency of thorough individualism. Z generation follow their own distinct values. "Living like yourself!" is more important than following others' values. They are free-spirited, unconventional, have a strong personality, focus on me rather than others, and are also familiar and active in revealing themselves. Z generation, who has strong self-color and actively expresses themselves, seeks "respect for dislike" beyond "respect for personal tastes". It means "respect what you don't like". In other words, it refers to the act of showing off one's dislikes with respect to one's dislike. This is a generation that wants to be respected even if they don't like something.

Current oriented propensity
The main life motto of Z generation is"What can give me satisfaction now", such as "You Only Live Once", "Small but definite happiness". The foundation grew up in an era of material abundance, but the tendency to focus on the present life has become stronger due to the uncertain future due to the prolonged economic slump, job shortages and the fourth industrial revolution. Z generation, which values experience, can be seen by preferring to travel abroad without insisting on owning a house and a car. One out of two people in Z generation traveled abroad before they turned 20. This is in contrast to the Millennial generation's choice of 20 to 25 years old(36%) and 26 to 30 years old(29%) when they first traveled abroad.

Work-life balance
For X generation, 'Work-life balance' says they are satisfied when they have a work-life balance where they are free to use their vacations. Z generation, on the other hand, said it was met they left work on time without working overtime. In other words, the Z generation tended to regard work life as Work-life balance' when they worked as much as they were given without overtime. In addition, this is the same in the Millennial generation.

=Economic activity=

Value consumption
One of the typical characteristics of the MZ generation is 'fairness'. Fairness even influences the propensity to consume, contributing to the social phenomenon of 'value consumption'. So consumption activities reveals the belief that activities are becoming more active. Unfair business, SNS also join the boycott. On the other hand, slightly higher value even if it supports businesses that lead to consumer consumption, good.

Digital economy activity
MZ generation is showing great interest in financial technology and financial services as they are suffering from the financial crisis and the economic impact of COVID19. In particular, uncertainty in the financial market has increased. Therefore, it leads investment culture in various ways. With the development of electronic finance, investment in gold, foreign stocks has become possible. As a result, direct investment by the MZ generation increased rapidly. According to the Korea Exchange, 56.1% of the gold account holders of the five largest securities companies were in their 20s and 30s. The number of Korean stock accounts in their 20s to 30s also jumped 50% in the first three months of 2020.

=Footnote=