When it comes to giving back, Generation Z and Millennials are apparently ahead of the herd.
A new report called The Future of Giving: Looking Beyond the Selfie, released by PayPal Giving Fund Canada and AgentsC Inc., reveals that these two generations have shown a philanthropic attitude by utilizing social media.
The results show that both Gen Z and Millennials are most likely to engage in acts of generosity online, with social media channels such as Facebook (34 per cent), Instagram (27 per cent) and GoFundMe (18 per cent).
When it comes to TikTok, Gen Z is much more likely to use the app than Millennials.
“While the report serves up insights on how charities can tap into younger generations, the sad reality is that many charities struggle today to leverage social media channels for fundraising because they lack talent, resources and the know-how,” the report read.
Additionally, 51 per cent of Gen Z and Millennials want transparency about a non-profit’s finances and where donations end up in order to increase trust in charities.
Interestingly, if given the choice, Gen Z would prefer to give time instead of money as a result of having a strong interest in volunteering.
Thirty four per cent of Gen Z are even hoping to start their own charity, compared to more than 25 per cent of older Millennials.
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