Student Village and Youth Dynamix conducted a survey of nearly 3 000 young people to explore the socio-economic dynamics of South Africans aged 15 to 34 years. 

Ronen Aires, founder and CEO of Student Village, says, "The younger generation's awareness of their higher purpose to fix the broken world they were born into is inspiring."

We're seeing the emergence of micro-hustlers, youngsters turning their passions into businesses, social justice and environmental warriors, and young leaders making moves in business and politics." Aires adds, "That's why we prefer to call them 'Gen RE' — as a collective, they're helping us recalibrate the way we do things in every facet of our lives." 

Understanding Gen RE for a thriving economy

Some of the key findings of the Gen RE report include statistics around:
  • living arrangements
  • family responsibilities
  • attitudes and behaviours, and
  • the evolution of income and spending activities from one stage of life to the next.

"With an estimated disposable income of R303-billion, brands cannot afford to overlook Gen RE's uniqueness and preferences as consumers or employees," says Aires.

Some key emerging research themes include:

  • 90% of young people will support brands that share and demonstrate their personal values.
  • 34% of South African Gen RE's have a side hustle and are looking to integrate their side hustle into their everyday life and demands.
  • Two-thirds of survey participants admitted to being 'significantly stressed'. Major causes of anxiety include finishing their studies, making ends meet financially, the impact of load shedding and unemployment.
  • While 30% of working young people are contributing financially to the family unit, 71% are still living at home due to the increasing costs and complications of independent living.
  • The highest youth spend categories include groceries, mobile devices, data, beauty and cosmetic products.

The survey also uncovers further details about activity trends, social media preferences, other shopping practices and key retail markets.

The full report is available for purchase from Thursday, 19 January for R49 500 excluding VAT.

The duo concludes that the report promises to be a source of immeasurable value and insight for brands looking for innovative, facts-driven methods to connect with up-and-coming consumers and employees.

For more information, visit www.studentvillage.co.za. You can also follow Student Village on Facebook, Twitter or on Instagram.