If you are considered a Millennial and getting really sick and tired of hearing how our generation has pretty much ruined things, well... things just might be looking up for you. Planet Earth has been flourishing for years with members of the Silent Generation, Boomers, Gen X, Xennials, Millennials, and Gen Z and now that 2019 is almost here, it seems pretty reasonable to start asking what generation will 2019 babies be? Welp, there's already a name for them!
According to sociologist Mark McCrindle, this upcoming generation will be called (drum roll please): Generation Alpha. According to Flux Trends, Generation Alpha "applies to children born between 2011 and 2025," and "an estimated 2.5 million alphas are born globally every week."
According to Forbes, the oldest children of this generation just started kindergarten this year but in 2050 (when they turn 40) Generation Alpha is predicted to reach 35 million. When all the members of this generation have been born, they will number almost two billion. That is a lot of Alphas!
So, generation Alpha, or the children of Millennials don't just have a name, but experts are already starting to predict how they will act and impact our economy. We all know that many companies have long blamed Millennials for their plummeting sales and have yearned to align with them to get their sales back up again. We also know that children learn a lot of their spending habits from their parents...so you can see where experts are going with this.
Furthermore, with about only six-in-ten millennials being raised by both parents, most Millennials put parenthood and marriage above career and financial success. With that in mind, many organizations are trying to leverage on that passionate relationship to bring in more sales. Investors have put over $2 billion into startups addressing the US K-12 edtech market, and fast-food industry aside between $11 and $13 billion annually is spent by companies advertising to children in America. They are also honing in on the fact that children of this generation will not only buy things for themselves but siblings, parents, friends and other family members.
Overall, it looks like Generation Alpha, the next generation, will not only be super technologically savvy but hopefully will give the economy the bump that it needs and save the world as we know it.