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New business owners need banks: An estimated 12 million baby boomers own small businesses in the US, according to the US Census Bureau. And as they start to retire, many will likely pass down their businesses within their families. To retain their business, FIs must prioritize improving their business banking solutions, per The Financial Brand.

On today's podcast episode, we discuss what the high-income shoppers path-to-purchase looks like and how best to market to them. Listen to the conversation with our Senior Analyst Sara Lebow as she hosts Senior Analyst Sky Canaves and Analyst Paola Flores-Marquez.

The trend: Gen Zers and millennials start their patient journeys on social media platforms, while Gen Xers and Baby boomers are more likely to turn to search engines and medical information websites, per our December 2023 US Digital Health survey. This article features insights from our newly published 鈥淕enerational Differences in Patients鈥� Health Journeys鈥� report.

Gen Z consumers are less likely to feel financial stress (reported by 30% of the cohort) compared with millennial parents (43%), and Gen X and boomer grandparents (41%), per Afterpay. However, Gen Zers are the second-most likely to consider BNPL essential for the holiday season (41%), right behind millennial parents (42%).

For example, their average credit card debt is $760, and their student debt $14,380鈥攍ess than half of the debt carried by millennials, Gen Xers, and baby boomers. Instead, The Standard鈥檚 study found that Gen Z鈥檚 biggest financial priority (79%) is saving. This aligns with their previously observed cash-stuffing habits, an attempt to set money aside in an analog way.

Transfers from baby boomers will account for 63% of the total amount of money moved in the Great Wealth Transfer, making their millennial children the biggest beneficiaries of this event, per 2022 Cerulli Associates estimates (the latest available data).

That included 11% of Gen Zers and 7% of baby boomers, with 10% of consumers overall saying they weren鈥檛 comfortable with AI-powered banking solutions having access to their data. This finding calls into question whether the customers of the Q2/Harris Poll survey understand exactly how most banks would be able to offer more real-time, personalized messaging and recommendations, and more.

Gen X (57%) and boomers (60%) are most likely to play puzzle or logic games. In-game advertising will account for about $1 of every $36 spent on digital ads in the US in 2024 or $8.59 billion, according to our forecast. Use this chart:. Highlight gaming ad opportunities. Strategize advertising to reach different generations within games. More like this:.

Some 26% of millennials will buy a gift via social commerce this holiday season, followed by Gen X (15%) and baby boomers (6%), per Basis Technologies and GWI鈥檚 survey. Instagram (57%) and Facebook (56%) are the most popular platforms among those who plan to buy holiday gifts via social media, followed by TikTok (43%) and YouTube (38%), the same survey found.

On average, 37.4% of millennials and Gen Zers say social media helps them become aware of a bank鈥檚 products and services, versus just 16.5% on average for Gen Xers and baby boomers. Most ads are minimally effective in building brand awareness among younger consumers.