University Tomorrow's 20s Research Institute, a leading generational research institute, unveils a report exploring the Alpha Generation, a new breed of humanity.
94.2% of parents of elementary school-aged Alpha children provide their children with financial education.
Nike, Adidas, and New Balance are among the brands favored by the Alpha Generation… What do they have in common?
The new generation of consumers frequents shopping spots characterized by a wide array of choices.
University Tomorrow's 20s Research Institute has released the "Alpha Generation Exploration Report 2024," which delves into the family life, education, finances, digital experiences, and consumption patterns of the ‘Alpha Generation,’ also known as the new generation of humanity.
While the Alpha Generation, the generation following Gen Z, has become a hot topic in various industries, they are still in their early childhood and adolescence, making it premature to conduct independent research solely on them. However, generational characteristics are not solely self-manifesting, but often influenced by parental or previous generations. University Tomorrow's 20s Research Institute has observed a prominent pattern of Alpha children interacting closely with and being influenced by their Millennial and Gen X parents. To comprehensively understand the Alpha Generation's characteristics, the research included their parents as part of the study. Additionally, in-depth interviews were conducted with Alpha children to gain deeper insights.
94.2% of parents of elementary school-aged Alpha children provide their children with financial education.
According to the report, Alpha Generation parents actively engage in their children's financial education. When asked about the essential education for their children in the future, ‘financial education’ received 61.5% of the responses. Among respondents with elementary school-aged children, a remarkable 94.2% indicated that they provide their children with financial education. Furthermore, 52.4% of parents with older elementary school children reported giving their children regular allowances. Due to their parents' proactive approach to financial education, Alpha children are naturally exposed to and learn economic concepts from a young age. The report also highlights the use of fintech services such as Puffin, iCooka, and Hana Bank's iBuja by the ‘digital-only’ Alpha Generation. These services promote healthy spending habits in children by simplifying expense management. They are gaining popularity due to the incorporation of gamification into financial education services.
Brands favored by the Alpha Generation: Nike, Adidas, New Balance… What do they have in common?
Alpha children frequently interact with their parents, fostering closer emotional bonds between parents and children compared to other generations. When asked about the essential condition for maintaining family values, respondents from Gen X to Gen Z ranked ‘emotional support and reliance’ as the top priority. This indicates a shift towards prioritizing emotional connections over blood relations compared to the past. When examining the topics of conversation between parents and their older elementary school-aged children, ‘hobbies’ scored 52.6%, and ‘memorable content’ achieved 40.4%. Further insights into the Alpha Generation's daily routines and interviews reveal how parents and children share their interests and preferences.
Furthermore, parental influence plays a significant role in shaping the Alpha Generation's consumption preferences and brand choices. When parents of elementary school children were asked about their children's favorite brands, the top 20 list featured prominent brands like Nike, Adidas, Apple, and Samsung, which are typically targeted towards adults. This indicates that parental preferences and brand choices are naturally transferred to their Alpha children in their consumption habits.
Shopping Spots Frequently Visited by the New Generation of Consumers: Characterized by a Wide Array of Choices.
This report also explores the shopping destinations frequently visited by Alpha children based on 1:1 interviews. According to the report, Alpha children's consumption spaces for shopping, leisure, and food have become more segmented, with spending habits influenced by individual tastes. They purchase snacks and stationery from unmanned stationery stores (unmanned ice cream stores), Daiso, and Artbox, demonstrating varying purposes and items purchased across different locations.
Meanwhile, when it comes to leisure activities with friends, various spaces like photo booths like In-Life Photo, coin karaoke rooms, and claw machines emerged, highlighting the diversity of leisure experiences based on individual interests. Popular food choices among Alpha children include mala tang, tang hu lu, and bubble tea, reflecting a preference for diverse options. This showcases Alpha children's familiarity with a broadened consumer landscape, where they actively consume based on their personal preferences. For more in-depth details on the Alpha Generation's consumption culture, readers can refer to the full report.
In addition to the above, the ‘Alpha Generation Exploration Report 2024’ offers a comprehensive look at the Alpha Generation's overall lifestyle, encompassing family dynamics and parenting styles, their educational paths and career aspirations, and their digital interactions. For this report, University Tomorrow's 20s Research Institute employed a mixed-methods approach, conducting two quantitative surveys of Alpha parents and conducting 1:1 interviews with elementary school-aged children.
University Tomorrow's 20s Research Institute is the first and only 20s-focused research institute in Korea, specializing in 20s-centric research and expanding to encompass generational studies, thereby enhancing its expertise.
About University Tomorrow's 20s Research Institute
University Tomorrow's 20s Research Institute is a research arm of the integrated marketing agency, University Tomorrow. With a focus on understanding the 20s generation, the institute conducts intensive research on Gen Z and expands its research to include the Alpha Generation, Gen X, and the 86 Generation. Based on trend case analysis, consumer research results, and social big data, it investigates trends and generational characteristics, delivering insights needed by the market.
Alpha Generation Exploration Report 2024: https://www.20slab.org/Archives/38678
Alpha Generation's Economic and Consumption Life: https://www.20slab.org/Archives/38690
Website: http://20slab.org
Contact
University Tomorrow's 20s Research Institute
Manager Sung-uk Kim
02-6985-1937
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