Italy’s future consumption trends: Millennials and GenZ

October 19, 2021

The younger generations are pioneers of many consumer trends and lifestyles that eventually involve the whole population. Millennials and Generation Z anticipate collective behaviors that have made the fortune of those companies that managed to decode them and respond to them accordingly. This is what prompted Istituto Piepoli to study more in-depth the younger strata and analyze where Italian consumption is headed, carrying out with Enel Foundation a research called “Youth and the Future” (Giovani & Futuro).

Recently a webinar was held to give an overview of the research and discuss the main findings. The analysis was carried out among people between 13 and 27 years of age and developed throughout two phases: the first was qualitative and the second was quantitative addressing a sample of 4.000 people. The study took into consideration the generational consequences of COVID-19 and the crisis it caused, together with other specific issues like sustainability, digitalization and mobility. It also mapped the main features of Generation Z and Millennials, making assessments on the basis of various KPIs tracking psychography, purchase attitudes, technology orientation, megatrends, sustainability and the like.

The profile that comes out from the psychographic analysis matches with an optimistic and curious generation, in-between a good level of self-confidence and happiness, and an underlying concern for the economic uncertainty and an environmental crisis that, together with the issue of social inclusion, seems to strongly identify Italian youth.

Adaptability and flexibility seem to be the discerning variables between the two generations under scrutiny. GenZ for example show better results in coping and responding with crisis and change, as their self-confidence is strong and so is their willingness to be protagonists of change. Millennials on the other hand show more signs of concern in face of crises, probably because of the older age at which they find themselves faced by socio-economic difficulties. In both cases companies need to establish a dialogue with them, so to have them actively participate instead of passively witnessing.

The study concludes that according to both generations, ecology and digitalization are the two most important issues for the future, as they expect them to grow in importance and strengthen their potential impact on society at large.

The event was moderated by Livio Gigliuto, Vicepresident Istituto Piepoli and saw the participation of: Nicola Piepoli, President Istituto Piepoli; Carlo Papa, Managing Director Enel Foundation; Luigi Contu, Director ANSA; Carlo Nardello, Chief Strategy, Business Development & Transformation Officer TIM; Claudia Gullotta, Head of Strategy and Business Development National Market Trenitalia; Giuseppe Conte, Central Director “Formazione e Sviluppo Risorse Umane” INPS; Giorgio Santambrogio, CEO VéGé Group; and Marco de Giorgi, Head of the Department on Youth Policies and Universal Civil Service.

Watch again the event here or here.