A new report published by Giving USA sheds light on how generational giving patterns have evolved since the 2016 Report. Understanding these shifts in behavior provides sound guidance for nonprofits as they develop strategic fundraising plans that harness the interests and capacity of all generations. Of particular interest, however, is Millennial donors who are set to take in over $70 Trillion in the next two decades.
- Generation (Gen) Z – Born 1997-2012
- Millennials – Born 1981-1996 –
- Generation (Gen) X – Born 1965-1980
- Baby Boomers – Born 1946-1964
The study references technology as a major driver in charitable giving trends amongst Millennials and Gen Z. The following key points from the 2022 Report highlight the role technology plays in generational giving:
- In 2016, the average Millennial was checking their phone 150 times per day. That number has grown to 2,617 times per day in 2022. Development Departments take note and make sure your fundraising communications are mobile-friendly and support easy online giving.
- The number of donors using a smartphone or tablet to make a charitable donation grew by 13% since 2016.
- 81% of Millennials prefer online giving, the most of any generation.
- 47% of Millennials and 46% of Gen Z prefer a QR code to make a charitable donation.
- 26% Gen X and 6% of Baby Boomers prefer a QR code.
The Report reveals that traditional direct mail still motivates all generations. In fact, Millennials were more likely to give as a response to direct mail than in 2016 – more than Gen X or Baby Boomers. Giving online is still preferred, however, over any other method.
In conclusion, the immediate future is all about capturing the attention and giving interest of Millennials, and it all comes down to messaging and giving vehicles. Millennials tend to enjoy hearing frequently from the charities they support – even accepting monthly text updates outlining how their donations are being spent. Good, effective communication designed with the needs and wants of generational donor segments will go a long way towards capturing the attention of all segments.
The Giving USA Special Report – Giving by Generation: Examining the Shifts in Giving Among Donor Generations is available on the Giving USA website. Click Here to learn more.