蘑菇AV

Gen Zers and baby boomers represent the largest shares of lower-income Americans, at 33% and 35%, respectively. Millennials account for 18% and Gen Xers 14%, per 2023 American Community Survey data cited in the report. Hispanic and Black people represent 22% and 18% of the low-income population, respectively, while whites account for 50%. Economic burdens have affected this group鈥檚 spending.

蘑菇AV half conduct extensive research on product ingredients and their benefits before buying, per McKinsey, compared with only one-third of Gen Xers and one-fifth of baby boomers. Brand websites are the top resource.

And millennials, who are increasing their travel spending more than any other demographic, are wealthier than Gen Xers and Boomers were at their age鈥攚hich is also driving high-end travel. No more free upgrades: Delta is moving swiftly to capitalize on these trends.

Gen Xers know less about available financial products than millennials and boomers, and they feel unprepared for their futures. This could indicate a failure to target this demographic for products and educational resources. Plus, this generation feels the stress of being behind on their financial goals鈥攚hile also shouldering the financial burden of supporting both their parents and children.

Cornerstone Advisors鈥� report 鈥淭he Boomer-ang Effect: Financial Institutions鈥� $1 Billion Opportunity in Senior Financial Management鈥� found many young customers worry about their parents鈥� financial health, too. The September 2024 survey included 500 US consumers with a parent who鈥檚 at least 60 years old.