Abstract
PurposeDrawing upon cohort theory, the age-period-cohort framework and the portrait value system, this paper aims to examine differences in basic human values between generations Y and Z as they are shaped by recent major events (most importantly the COVID-19 pandemic).Design/methodology/approachHypothesized differences between values of generation Y and Z were tested using a content analysis of recent articles (Study 1) and an online survey through a prolific crowdsourcing website (Study 2).FindingsThis research finds that while both generations value universalism and benevolence, Generation Y is more likely to conform and follow traditions while Generation Z values stimulation, hedonism and achievement more. The top two COVID-19 concerns for both groups were the health of others and financial security. Generation Y is more concerned about the economy while Generation Z is more worried about uncertainty in their future.Research limitations/implicationsThis paper provides insight into how the current environmental crisis has shaped the values of generations Y and Z and offers an understanding of the similarities and differences in values between these two generations.Practical implicationsThe findings have direct implications for the design of products/services and for the creation of effective marketing communications to reach these two consumer groups.Originality/valueThis research is novel in identifying the basic human values of generations Y and Z as they are shaped by recent events such as the most recent economic recession and COVID-19.
Highlights
Hypotheses Development In this paper, we focused on the differences between the oldest group of Generation Z (18 to 24 years old) and mid-age Generation Y (28 to 34 years old)
Subjects first answered questions related to the 21-item Portrait Values Questionnaire (PVQ) and items extracted from our content analysis
Before performing group difference analyses, consistent with an approach suggested by Schwartz (2003), we centered the individual scores on both the PVQ items, and the items we used to calibrate the PVQ
Summary
The coronavirus pandemic tops the list, effecting the entire world and impinging on everyone’s lifestyle behavior. The economic recession that followed has been hanging on American minds. The protests for social justice and equality following alleged police brutality and the political upheaval societally dividing the country only add fuel to these challenges. Everyone would agree that this is a time like no other, a time causing dramatic and expected long-lasting changes in America and the world. Most would affirm that this is a time of crisis
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