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The insight: Gen Z consumers are 44% more likely to increase their spending this holiday season when compared with millennials, Gen Xers, and Baby Boomers, per new research by First Insight shared exclusively with Insider Intelligence. Thirty-six percent of Gen Zs plan to spend more this year, compared with 31% of millennials, 21% of Gen Xers, and 16% of Baby Boomers.

Ä¢¹½AV 29% of Gen X used BNPL in 2023, but this share will jump to 40.5% by 2027, according to our forecasts. The share of baby boomers will jump from 13% in 2023 to 17.9% in 2027. More use cases. Consumers can use BNPL in more product and service categories. Affirm recently partnered with an eyewear retailer, for example, and Klarna partnered with a B2B car-rental company. Greater acceptance.

Millennials (68%), Gen Z (64%), and Gen X (62%) reported turning there first to find patient reviews. Just 43% of boomers and 28% of Silents checked Google. 34% of all patients checked a practice’s website for reviews, ranging from 36% of Gen Z to 31% of Silents. 31% went to WebMD, although Gen X (37%) was the biggest audience for that site. Gen Z (23%) and Silents (25%) were least likely to go there.

Since 401(k) accounts weren't available until Gen X reached their 30s, many anticipate working into their 70s—with a median of $82,000 earmarked for retirement. After accumulating debt and graduating into a turbulent economy, millennials started saving later—with a median retirement savings of $49,000.

Over 41% of prospective customers consider convenient ATM locations when choosing an FI. 10% of Gen Z, 9% of Millenials, and 9% of Gen X customers manage their bank accounts primarily through an ATM—that’s right, prioritizing it over a mobile app, branch visit, or online account.

It looks like the right time for marketing messaging to emphasize a bank’s strong reputation and stability—particularly when targeting Gen Xers and baby boomers.

Gen X volume grew 5%, while baby boomers and older generations’ volume increased just 2% YoY. Why it matters: Amex’s push to win over younger generations is working. Gen Z and millennials accounted for more than 60% of global acquisitions in Q1. Their spending now makes up one-third of the company’s overall volume, per its Q2 earnings. Healthier delinquencies than competitors:.

More than two-thirds (68%) of baby boomers and 64% of Gen Xers will use credit cards, compared with 44% of Gen Z shoppers. Credit card providers have beefed up their rewards offerings ahead of the holidays to capture this volume. American Express added rewards redemption at Amazon checkout for its cash-back cardholders.

Generational differences: 18% of Generation Z and 4% of baby boomers identified as LGBTQ+ (Ipsos); in the US, 16% of Gen Zers and 15% of millennials identify as LGBTQ+, compared with 8% of Gen Xers and 2% of boomers. The Gallup study found that almost 20% of Generation Z, 11.2% of millennials, and less than 3.3% among older generations identified as LGBTQ+.

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’s 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.

Age is the determining factor in willingness to try new products, with millennials and Gen Zers being more likely to branch out than Gen Xers or baby boomers. Younger generations are also more likely to discover new products via social media. Brands that want to increase awareness and consideration among younger consumers must use digital channels to do so. Use this chart:.

Gen Z consumers are 44% more likely to increase their spending this holiday season when compared with millennials, Gen Xers, and baby boomers, per new research by First Insights shared exclusively with Insider Intelligence. But that doesn’t mean they’re immune to deals.

Big banks can gain market share with higher-income customers—who skew toward Gen X—by promoting educational efforts and in-person demonstrations. Despite US leadership in AI technology, consumers have been slower to adopt AI banking chatbots. By the end of 2026, 35.1% of US adult consumers will use AI banking chatbots.

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.

For Gen Xers and baby boomers, TV ads are the top driver. Even though both social and TV drive awareness while consumers aren’t actively shopping for groceries, they’re still significant drivers of discovery. Gen Z signals an even more drastic shift away from traditional product discovery.

Millennial buyers have risen, while Gen Xers have pulled back from cross-border buying. Fifty-four percent of US cross-border buyers are millennials, per the ESW survey. That’s a marked increase from November 2021, when the bulk of respondents were more evenly split between millennials (35%) and Gen Xers (33%). Gen Z’s adoption of cross-border shopping is also increasing rapidly.

Many more Gen Xers and baby boomers use health apps and telehealth services than wearables, according to our survey. Wearables were the least adopted tools used for health purposes, though half of millennials reported owning them. Patients demand an omnichannel experience. Providers can no longer rely exclusively on brick-and-mortar care delivery.

Gen Z will make up 20% of the population this year, in line with the percentage of both millennials and Gen Xers. By 2025, Gen Z will surpass Gen X in its number of US digital buyers, per our forecast. As digital natives, Gen Z expects a seamless digital experience from brands and retailers, whether they’re on social media, a website, or an app. 2. Loyalty is important, but not a guarantee.

Younger people—Gen Z and millennials—are more active in seeking medical advice there than are older people—Gen X and Baby boomers. 33% of Gen Z patients use specific groups on social media to discuss an illness or medical situation.

Generational respondents were broken out into Gen Z (19% 1997-2005), Millennials (34% 1981-1996), Gen X (35% 1965-1980) and Boomers (12% 1959-1964).

Millennials and Gen Xers overindexed in smartwatch uptake, likely a reflection of higher income levels. In H1 2023, 41.1% of high-income respondents owned a smartwatch. Ownership of smart home products grew to 26.8% in H1 2023. This was up 2.9 percentage points from H1 2022. Suburban respondents overindexed at 31.3%, well ahead of urban (23.8%) and rural (22.0%).

The number of US millennial and Gen Z social network users will continue to climb through 2027 while the number of Gen X and baby boomer users will decline. TikTok, Snapchat, and Instagram are the most popular social media platforms for Gen Zers, though only Snapchat draws a higher share of Gen Z teens than Gen Z adults, per our US Social Network Usage by Generation report.

That share jumps to 38% among bridge millennials (older millennials and younger members of Generation X) and 34% for millennial shoppers. One piece of a larger puzzle: Ikea spent the last few years evolving from a retailer that drove the vast majority of sales from massive stores located outside city centers to a dynamic merchant willing and eager to test, learn, and iterate, both offline and online.

Methodology: Data is from the July 2024 Collage Group report titled "Generations Passion Points: Unlocking consumer enthusiasm through Americans' favorite pastimes." 5,078 US consumers ages 13-78 (Gen Z n=1,185; millennials n=1,372; Gen X n=1,197; baby boomers n=1,324) were surveyed during April 2024.