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The respondent base was 13% Gen Z, 52% Millennials, 22% Gen X, and 13% Baby Boomers. In addition, 332 US consumer brand marketers were surveyed during August 15-September 21, 2022. Respondents indicated that they are professionally aware of the metaverse, and can answer questions about their organization's digital marketing/advertising, analytics, website, ecommerce, CX, or customer data.

Gen X and baby boomers are most likely to start their searches on Amazon or search engines, while Gen Z tends to start product searches on YouTube or TikTok. 3. Walmart is losing ecommerce share. The stat: The percentage of consumers shopping on Walmart.com declined by 15% in Q1, totaling just over a quarter (28%) of consumers.

We expect the number of US Gen Z Pinterest users to rise by 9.7% YoY in 2024, while the number of millennial, Gen X and baby boomer users will be stagnant or fall. 鈥淭he reality is that we鈥檙e aging up,鈥� said Snap鈥檚 Harris. 鈥淭he 17-year-old who joined the platform 13 years ago is now 30 and at a different life stage.鈥�

However, the Gen X and the boomers, we expect them to lose a few hundred thousand. So they are relying more and more on the Gen Z folks for that growth. (08:41):. Let's move to the second player here. So Snapchat, they have a 0.7% share of the US digital ad pie, which lands it in 12th place, a few spots behind Pinterest. Money-wise, they grew revenue 16%.

Less than one-quarter of Gen Xers and just 10% of boomers said BNPL was their top choice, but they鈥檇 rather use no installment plan than a card-linked plan. What went wrong: BNPL firms are losing out to credit cards in key areas. While 35.6% of respondents called BNPL a 鈥済ood way to pay for larger purchases,鈥� they鈥檙e still reserving their largest transactions for their cards.

By contrast, that figure was 66% for millennials, 43.7% for Gen Xers, and 25.7% for baby boomers. What this means for retailers: Which payment methods retailers鈥� biggest spenders鈥攁nd the shoppers of tomorrow鈥攑refer is integral to increasing sales and reducing cart abandonment.

But more than half of US Gen Xers, baby boomers, and seniors feel negatively about companies using AI in their CX, according to SurveyMonkey and Momentive, so some may be resistant to AI chatbots. Use this chart:. Understand how customer service expectations vary based on age. Gain insight into the role generative AI could play in customer service.

Between 2020 and 2030, more than $68 trillion in wealth will transfer from boomers to millennials and Gen Z. The surveyed bank executives also realize that Gen Z is digitally native and expects most banking interactions to occur online or via mobile app. That鈥檚 why bank tech spending levels are expected to remain elevated through 2026, both in the UK and the US.

A lower percentage of older cohorts, like boomers and seniors (33%), felt the need for additional security measures. Of all respondents who don鈥檛 believe their banks provide enough security features, 50% said they want more visible methods, like entering a password. This looks different: Consumers want additional security measures in place when conducting non-routine or high-risk transactions online.

Gen Z will be the primary driver of BNPL growth, but there鈥檚 still healthy usage from Gen X and baby boomers, which will make up a combined 37.5 million users by 2027, according to our US Buy Now, Pay Later Forecast 2023 report. Gen Z will be key to moving BNPL payments from online to in-store. Use this chart:. Identify the leaders in US BNPL payments. Compare BNPL providers based on payment value.

Gen Z will make up 20% of the US population this year, about the same percentage as millennials, Gen X, and baby boomers, per the US Census Bureau. Marketers must recognize that what works for older demographics won鈥檛 necessarily work for the first digitally native generation.

Millennials are leaving Facebook (as are Gen X and baby boomers) and their Instagram use is stagnating. Their TikTok use is on the rise, meaning advertisers may want to invest more in the channel to meet millennials. Of course, TikTok鈥檚 entire US existence is on more precarious footing than ever, so tread carefully. 4. Millennials are most likely to buy on social.

Though this pattern is being observed across all generations, millennials are the most likely to be less loyal to brands due to rising costs, whereas baby boomers are least likely to stray to cut costs. Key takeaway: It takes a lot more to keep customers loyal these days.

Younger generations show greater approval for DEI themes compared with baby boomers. Why it matters: US Internet users expect brands to feature diverse individuals in advertisements (40%) and ensure ads and content are accessible to those with disabilities (39%).

That number rises to 62% for baby boomers. These aren鈥檛 necessarily small purchases either. Over a quarter (26%) of US adults estimate the amount they鈥檝e spent on impulse purchases inspired by social media totals over $500, per the same Bankrate/YouGov survey. The bottom line: Candy bar-makers need not worry鈥攃onsumers are not going to return their unwanted treats.

Thirty-nine percent of Gen Zers say they鈥檒l pay for returns versus just 22% of baby boomers, per November 2022 Metapack data. Managing the costs: Providing free returns can be quite expensive for retailers鈥攖otal US retail return volume will reach $913.57 billion this year, with most returns (72.7%) coming from non-ecommerce retail, per our forecast.

Every generation except baby boomers said they would give a company they are loyal to fewer chances after a bad customer service experience before switching to a competitor in 2023 than they did in 2021, per Five9 and Shep Hyken. Use this chart:. Make the case for CX investment. More like this:. Shoppers want AI to help with product research and customer service.

Baby boomers are the least likely, with just 7% ownership. In terms of gender and income level, ownership is pretty evenly spread, which should make it easier for marketers to target consumers across the board. This was originally featured in the Retail Daily newsletter. For more retail insights, statistics, and trends, subscribe here.

Age is the determining factor in willingness to try new products, with millennials and Gen Zers more likely to branch out than Gen Xers or baby boomers, according to our CPG and Grocery Product Discovery 2023 report. 2. Social media is also playing more of a role in discovery.

Social media is one of their top means of discovering new CPG products, following friends and family recommendations and in-store ads. 19.1% of Gen Z digital grocery buyers discovered and purchased a grocery product within the last 12 months through a celebrity or influencer, compared with 7% of Gen X and around 2% of baby boomers.

It鈥檚 no surprise that baby boomers are more likely to shop in-store, but inflationary pressure may be leading more lower-income consumers to forgo the convenience of online shopping (where there may be higher prices and delivery fees).

Meanwhile, baby boomers are the highest-value sellers on the platform. Technical assistance: Looking ahead, technology may help bring in the next wave of secondhand luxury buyers, according to online luxury marketplace Farfetch.

Baby boomers are still focused on the in-store experience. Over 4 in 10 (41%) of UK consumers ages 59 to 77 would like to see retailers invest in technology for personalized service in stores, versus the all-ages average of 35%. In contrast, just 27% of boomers want to see investments online, versus 36% overall, per Klarna.

Many brands on TikTok have even begun to turn to influencers from the Gen X and baby boomer generations to help distill their messages. With the threat of a TikTok ban waning in the UK, marketers should continue allocating spend to the platform. The UK banned TikTok from all government devices earlier this year.