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But Gen X respondents shop and spend more than Gen Z respondents, and the younger of the two generations is still more likely to try new products both in-store and online. Age is the determining factor in willingness to try new products.

Gen Xers are still slow to adopt most social platforms. Meta platform adoption far exceeds that of other platforms among Gen X. Approximately 69% of Gen Xers are on Facebook, while 38% are on Instagram, well ahead of the less than 20% on TikTok, Snapchat, Reddit, or Twitter. Gen Xers spend more than twice the amount of time on Facebook than on Instagram.

Digital channels are necessary to secure the Gen X consumer. Almost half (46.5%) of Gen Xers still won’t have life insurance in 2023. As Gen X ages, insurers should tap in to the 30.2 million individuals who could benefit from a plan. Gen Xers are focused on saving for retirement, while life insurance falls by the wayside in the current economy.

PayPal’s share of older digital payment app users is especially higher than other apps, like Apple Pay or Venmo: 87% of Gen X respondents use PayPal, but just 16% use Apple Pay, according to the survey.

However, among millennial, Gen X, and baby boomer social buyers, Facebook is the most popular platform to make a purchase. 5. Apparel brands can leverage social commerce to grow their holiday sales.

They’re also the most likely of any generation to have 401(k)s and Roth IRAs—which is alarming for baby boomers and Gen Xers, who are closer to retirement. Gen Xers also save the least in general, again indicating unique generational needs, demanding targeted products and outreach. Baby boomers are the most likely to use savings and credit cards to pay for unexpected expenses.

Half of millennials own some type of a wearable device they use for health purposes, per our survey, compared with 36% of Gen X and 32% of boomers. Smartwatches are the device of choice, used by 76.5% of millennials in our survey, compared with 62% for Gen Xers and 46% of boomers.

Gen X will comprise 23.1% of all BNPL users in 2027, with healthy user growth among that generation and baby boomers. Yet many campaigns—such as Klarna’s team-up with A$AP Rocky—still cater squarely to younger consumers. Realizing Gen X and boomer potential will require BNPL providers to segment more of their marketing dollars across generations. To view the full forecast, click here.

Gen Zers are more than twice as likely to buy holiday gifts via social commerce this year, with 42% saying they are likely to do so compared with 26% of millennials and 15% of Gen Xers, per a Basis Technologies survey. On average, TikTok Shop users spent roughly $67 between mid-June and mid-July, up from $54 in January, per Earnest Analytics data cited by Business Insider.

While that’s not surprising, the relatively high rate of creator-driven purchases among Gen X shoppers (40.8%) may be. Facebook had the lowest rate of creator-driven shopping. Without Facebook, the share of social shoppers who made a purchase because of creator or influencer content was over 10 percentage points higher, at 61.0%.