Lending to Gen Z

The consumer data in this report was primarily collected from the following:

• A random-sample survey of 2,000 respondents conducted online in August 2018, including 189 Gen Z respondents.
• Supplementary data was provided by secondary sources such as the U.S. Census Bureau and Pew Research Center.

As generations are not defined strictly and some people on the cusp may identify with either generation, Javelin’s definitions leave some overlap in the years that determine a consumer’s generation. In addition, the cutoff for Millennial and Gen Z and even the term “Gen Z” are still being debated and solidified by market researchers. For this report, Javelin delineates generations as follows:

Finally, textual references to “Gen Z” in this report refer to the generation as a whole. But because Javelin surveys adults only, data points are for consumers born between 1995 and 2000 (age 19-24 at the time of writing).

The name “Silent Generation” is perhaps a lesser-known moniker and refers to those who were born before and up to the end of World War II. The term was coined by Time magazine in 1951.⁴ In studying young people’s reaction to events such as the Korean War and the rise of a nuclear Soviet Union, Time characterizes them as “grave and fatalistic” and refers to the generation’s ability to “[take] its upsetting uncertainties with extraordinary calm.” It also refers to the generation’s perceived adherence to social norms.