MARKET NEWS

What’s Old Is New: Gen Z Embraces Y2K Trends (And Tech)

By: SoFi General · January 13, 2023 · Reading Time: 3 minutes

Sick of Social Media

Throughout 2022, emerging trends showed people pushing back against aspects of modern life.

Meta Platforms’ (META) Facebook is a notable example. In 2021, the social media network lost total users for the first time in its history. While that can be partially explained by the growth of TikTok and other platforms, recent data suggests younger people may be less infatuated with social media overall.

According to Pew Research, 36% of teens say they use social media too much. That’s translated into some surprising tech choices among Gen Z users. As opposed to smart phones and their souped-up cameras, some are now opting for old-school flip phones and digital cameras. For many younger consumers, older technology represents a chance to unplug.

Artificial Authenticity

In reality, social media remains key to explaining Gen Z’s preference for outdated tech. WGSN Insight, a trend forecasting company, explains photos taken with a digital camera and posted online appear unique. The blurry photos evoke an “authentic” aesthetic the latest iPhone (AAPL) camera just can’t provide.

For social media platforms like Instagram, the challenge appears to be keeping things fresh and innovative to compete with rising companies. But on TikTok, which dominates the social media conversation among Gen Z, the prevalent early-aughts-era feel suggests embracing the past may be as important to capturing young users as the future.

Démodé or in Vogue?

Ecommerce data backs up the digital camera phenomenon. From 2021 to 2022, searches containing the term “digital camera” increased 10% on eBay (EBAY). Digging deeper, certain models of camera proved especially popular with searches for Nikon’s (NINOY) COOLPIX camera growing 90% over the same time frame.

Ironically, the photos being snapped on the older cameras likely capture subjects who wouldn’t look out of place in the Y2K era, either. That’s because brands like True Religion, Juicy Couture, and Abercrombie & Fitch (ANF) are also making a comeback.

Now may be the time to check the back of your closet or your home’s junk drawer because digging out a flip phone, pair of low-rise jeans, or velour tracksuit might just put you on the cutting edge of our cyclical culture.

Looking for more stories like this? Check out On the Money — SoFi’s one-stop-shop for news, trends, and tips!

Check it out


Please understand that this information provided is general in nature and shouldn’t be construed as a recommendation or solicitation of any products offered by SoFi’s affiliates and subsidiaries. In addition, this information is by no means meant to provide investment or financial advice, nor is it intended to serve as the basis for any investment decision or recommendation to buy or sell any asset. Keep in mind that investing involves risk, and past performance of an asset never guarantees future results or returns. It’s important for investors to consider their specific financial needs, goals, and risk profile before making an investment decision.
The information and analysis provided through hyperlinks to third party websites, while believed to be accurate, cannot be guaranteed by SoFi. These links are provided for informational purposes and should not be viewed as an endorsement. No brands or products mentioned are affiliated with SoFi, nor do they endorse or sponsor this content.
Communication of SoFi Wealth LLC an SEC Registered Investment Advisor
SoFi isn’t recommending and is not affiliated with the brands or companies displayed. Brands displayed neither endorse or sponsor this article. Third party trademarks and service marks referenced are property of their respective owners.
SOSS23011302

TLS 1.2 Encrypted
Equal Housing Lender