As you have certainly seen often on the news and social media, the current generations are distinguished by the terms Baby Boomers, Gen X, Gen Y (Millennial), and Gen Z. Even though it is commonplace, some still cannot differentiate.
In 2021, the division of generations is as follows:
– Baby Boomers: Born between 1944 and 1964 and are currently 57 to 77 years old.
– Gen X: Born between 1965 to 1979 and currently aged 42 to 56 years.
– Gen Y / Millennial: Born between 1980 and 1994 and currently between 27 and 41 years of age.
– Gen Z: Born between 1995 and 2015 and currently between the ages of 6 and 26 (cosmopolitan.co.id).
Based on the results of the Indonesian Population Census in 2020 (sensus.bps.go.id), the proportion of the population in the Gen Z category is approximately 27.9 percent of the total population in the country.
A survey from futureplay.co shows that Gen Z’s interest in trying new platforms or applications, especially for online shopping, is very small, only reaching 12.7 percent.
More than 63 percent of respondents said they were not interested in trying the new platform. Meanwhile, the remaining 12.7 percent chose to keep using old digital services but with a different approach, such as making purchases from other sellers. This research from FuturePlay also finds Gen Z Indonesia’s tendency to be a conservative market consumer, which can make it difficult for startups that are developing a new product or service for early adopters.FuturePlay survey results show that about 62 percent of Gen Z respondents in the country are interested in non-cash transaction activities because of the convenience it offers.
Apart from being considered concise, this payment method is also considered to offer its own advantages thanks to the discounted price promotion and point system provided. In the e-commerce segment, respondents from Gen Z are mostly e-commerce consumers who like to shop for fashion and beauty products. 89 percent of respondents admitted to shopping more than once a month, and 50 percent of them admitted to shopping more than three times per month, both on e-commerce marketplace platforms and on social media.