The priorities and preferences of Generation Hashtag – which includes anyone born between 1991 and 2005 – are reshaping the corporate world, says GlobalData, a data and analytics company.
Its latest report: ‘Generation Hashtag – Thematic Research’ argues that the demographic makes up a quarter of the world’s population and its influence will only increase over the next decade, as its members continue to enter the workforce.
Generation Hashtag incorporates both younger millennials and older members of Generation Z. This new breed of consumers demands a personalised, convenient, omnichannel experience, and companies must adapt or risk becoming obsolete.
“Generation Hashtag has already been instrumental in the rise to prominence of companies like Netflix, Uber and Airbnb.,” said Ed Thomas, Principal Analyst for Technology Thematic Research at GlobalData. “These firms disrupted well-established markets by appealing directly to young, tech-savvy consumers and have now established themselves as market leaders. Others will follow in their footsteps as spending power shifts decisively from millennials to Generation Hashtag.”
“The companies most likely to benefit from the Generation Hashtag theme will be drawn from a range of sectors, including smartphone and messaging ecosystems, online dating, gaming, fintech, ecommerce, internet TV, and the sharing economy. Areas ripe for disruption include car manufacturing, hotels, travel agents, supermarkets, and banks,” he added.