Generation Z is already killing Facebook, and 6 more industries could be next
- We already know Facebook is losing among Generation Z, the generation after millennials that prefers Snapchat and Instagram.
- Marketing and retail experts pinpointed seven other sectors and businesses that are sure to struggle once these teens come of age.
- "Generally, members of Generation Z are tech-savvy, pragmatic, open-minded, individualistic but also socially responsible," An Hodgson, Income and Expenditure Manager at Euromonitor International, told Business Insider.
Ishan Goel, a 19-year-old marketing strategist with the Mark Cuban Companies, said it's "not cool" for his fellow Gen Zers to be on Facebook. For today's teens, Facebook is just a tool for group chats or keeping up with parents."People aren't wanting to post stuff consistently," Goel told Business Insider.
Gen Z are those born roughly from 1995 to 2010. This current cohort of teens is on track to kill Facebook, as Business Insider's Mark Abadi reported.
Only 9% of teens say Facebook is their preferred social media platform. Gen Z prefers Snapchat and Instagram, while older millennials are the biggest chunk of Facebook's users.
"Because Gen Zers are individualistic and value their privacy, they prefer anonymous social media like Snapchat, Secret, and Whisper rather than Facebook," An Hodgson, Income and Expenditure Manager at Euromonitor International, told Business Insider.
Millennials have already reportedly killed bar soap, diamonds, and napkins. Here's what's on Gen Z's hit list.