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YouTube and Facebook can help boost ownership among boomers. Boomers are prime candidates for individual life insurance options. As the youngest segment of the cohort nears retirement age, many will lose group life insurance. It is crucial for insurers to transition boomers to individual options and tap in to the 30.8 million nonowners.

For Gen Xers and baby boomers, TV ads are the top driver. Even though both social and TV drive awareness while consumers aren鈥檛 actively shopping for groceries, they鈥檙e still significant drivers of discovery. Gen Z signals an even more drastic shift away from traditional product discovery.

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.

Baby boomers are almost exclusively on Facebook. Baby boomers are not juggling platforms. Every day, those ages 65 and older spend 2 minutes or less each on Instagram, TikTok, and Snapchat. They spend the most time on Facebook鈥�14 minutes a day. Almost all (91.0%) of baby boomer social network users will be on Facebook this year. Compare that with 86.4% of millennials. They鈥檙e not fond of TikTok.

However, more baby boomers than younger consumers considered both categories very important. For example, 98% of baby boomers consider security features very important, but 80% of Gen Zers do. And baby boomers scored customer service as high as security features. 92% of baby boomers believe a banks鈥� reputation is very important, compared to 72% of Gen Zers.

They鈥檙e also the most likely of any generation to have 401(k)s and Roth IRAs鈥攚hich 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.

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.

Baby boomers don鈥檛 feel prepared for retirement: Now that every baby boomer is over the age of 60, they鈥檙e thinking about retirement if they haven鈥檛 already transitioned into this phase. However, more than two in five baby boomers have no retirement savings set aside, and 70% of this generation feels uncertainty about whether their retirement savings will suffice.

For example, Gen Zers are over three times more likely to feel more confident in their bank鈥檚 use of AI than baby boomers. Interestingly, while 11% of Gen Zers are open to their bank using AI, they don鈥檛 want it to have their financial details. That鈥檚 compared to 7% of baby boomers and 10% of respondents overall who said the same.

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鈥攕uch as Klarna鈥檚 team-up with A$AP Rocky鈥攕till 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.

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.

Millennials are the biggest users of CTV, followed by Gen Z, Gen X, and baby boomers, per our forecast. The millennial audience is nearly twice as large as the boomer audience. By contrast, boomers are the largest viewing group for traditional TV, followed by Gen X, millennials, and Gen Z. This demographic mix clearly favors CTV and accounts for much of the spending shift from TV.

The Senior List, a lifestyle site for Baby boomers, created a list of 780 Google search queries primarily asking questions about treatments for various medical conditions. An AI Overview popped up for about a quarter of the queries. A group of six healthcare providers then assessed the risk level that each AI-produced result posed to older adults.

Baby boomers aren鈥檛 keeping up in terms of time spent. They鈥檙e the only generation in which more than half of the population doesn鈥檛 play video games at all, per Morning Consult. There鈥檚 not much positive change on the horizon either, as growth rates for boomer gamers overall will be in the negatives through 2027, per our forecast. Mobile continues to be the dominant medium for gaming.

By the numbers: Baby boomers and seniors are less familiar with AI and also expressed more fears about privacy and security and distrust of the technology than younger generations. 65% of Generation Z said they were 鈥渧ery familiar鈥� with AI. 46% of Gen Zers reported integrating the technology into daily activities.

TikTok has reached saturation among Gen Z, but it鈥檚 continuing to grow among baby boomers. Our forecast indicates that TikTok adoption rates continue to rise steadily across generations, but the greatest jump will occur among the oldest users: 1 million boomers in the US will adopt the app in the next year. That bumps the number of users from this cohort from 8.7 million to 9.7 million, up 10.5%.

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.

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.

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.