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This year, most buyer and sales growth will be driven by TikTok Shop, which will convert over 40% of TikTok users into buyers. Social commerce and retail media will converge as Amazon’s ad partnerships with the social platforms start to pack a punch.

B2B digital ad spending will continue to grow at a slower pace across key industries in 2023. More B2B buyers are millennials and Gen Zers, shifting ad buys from search to display, from Google to social media, and from desktop to mobile.

Plus, self-service banking is something Gen Zers keep demanding.

Product discovery is the top reason Gen Zers in the US buy through social media, with 45% saying they did so because they found items they liked. A comparatively low 22% cited influencers and creators, while just 16% were swayed by the company or brand name.

A new ecommerce wallet from parent company Early Warning could drive growth for Zelle if they are integrated. Early Warning is finally embracing retail with the forthcoming launch of its bank-based ecommerce wallet, Paze. It faces some headwinds, including late entry into a crowded space.

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Almost all new US digital buyers will be Gen Zers, whose shopping habits are still evolving. Early US leaders like Facebook and Instagram pull back. Companies are moving away from social commerce and doubling down on core advertising. TikTok’s share of users who are social buyers will surpass Facebook’s in 2024, per our forecast. TikTok isn’t the only Chinese player aiming for Gen Z.

TikTok continues to attract a lot of attention, both good and bad. The hype around its heavily engaged and coveted Gen Z audience is real. But concerns over alleged privacy violations have made it a target for regulators, and user trust of the platform has suffered as a result.

Shopping features overperform among millennials, which should drive issuers to tether shopping to other card benefits. Millennials’ most valued features—return protection, extended warranty coverage, and free shipping enrollment—aren’t the most in-demand features overall.

Partnerships will also help win over Gen Zers and millennials—two groups key to future growth. Gen Z is the only generation increasing life insurance ownership, while millennials have the greatest unmet need for coverage. More than 6 million Gen Zers will add life insurance from 2022 to 2025, a 3.5% increase in penetration, per our forecast.

The platform maintains strong penetration with Gen Z, a key source of digital buyer growth. While platforms like Instagram also have millions of Gen Z users, Gen Z represents over 50% of Snapchat’s user base—which isn’t the case for Meta platforms. Highlighting Snapchat’s ability to provide authentic social connection is critical in a time where many platforms are evolving toward broadcast models.

Generation Z: Though over 1 in 3 Gen Zers already have credit cards, younger Gen Zers are becoming eligible for credit. But it’s not just access they’re after—they want convenience. They care about easy access to ATMs for cash, and being able to make mobile, contactless payments.

That number will rise to nearly two-thirds (64.5%) by 2027, with most of that growth coming from mobile-first Gen Z consumers. As adoption increases, retailers should consider how mobile wallet integration can reduce friction in the payment process:. By storing multiple payment options in one place, shoppers don’t have to search for cards or apps to make a purchase.

Attract segments most likely to open new accounts: affluent consumers and Gen Zers. Consumers with over $250,000 in deposits moved funds more actively in Q1 versus consumers in lower brackets, per the Federal Deposit Insurance Corporation (FDIC). Furthermore, at least 4 million Gen Zers will open bank accounts each year between 2023 and 2026, while other demographics will stagnate, per our forecast.

For marketers, ‘OK, boomer’ isn’t such a bad phrase after all. Baby boomers (ages 60 to 78) make up 20% of the US population yet control $76 trillion—52% of the country’s net wealth, per the Federal Reserve as reported by The Economist. Despite marketers fixating on Gen Z, boomers wield substantial spending power and have distinct behaviors worth noting.

Retailers—specifically those in the food and beverage space—can hold flash sales and offer discount codes to shoppers who visit their websites or brick-and-mortar locations on the day of the grand final. They should also keep their inventory stocked with T-shirts, hats, and country-specific flags for fans interested in taking part in the celebrations.

Women and Gen Z lead in apparel purchase consideration. Significantly more female respondents are open to buying clothing, footwear, and accessories from outside their domestic market, per Global-e. Among Gen Z respondents ages 16 to 24, 62% said they would consider purchases in this category. US male consumers are more likely to shop overseas for most other product categories.