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Capturing the sandwich generation鈥檚 loyalty via clear pricing and education is particularly important today since many millennials and Gen Zers are likely to follow their Gen X parents鈥� healthcare preferences. Sources. Aflac. American Cancer Society. Bankrate. Centers for Disease Control and Prevention. Exact Sciences. Federal Reserve. The Harris Poll. Kantar. National Alliance for Caregiving.

Less than half as many millennials (4.0%) reported doing the same. Adoption shrank to 1.1% for Gen Xers and 0.8% for baby boomers and seniors. Millennials outpace Gen Zers in terms of Google Pay adoption, however: 1.4% of millennials used Google Pay when online shopping in the last 30 days, compared with 0.5% of Gen Z.

Temu is the most popular marketplace among Gen Z and millennial shoppers, with more than 52% of marketplace buyers making a purchase on the platform within the last six months. What do both platforms have in common? A vast selection of goods at very low prices. Mercari and Daiso could be following in their footsteps, especially as cross-border ecommerce continues to grow.

Gen Zers may be setting beauty trends on TikTok, but millennials are buying more of the actual products鈥攁nd more often. Some 34.4% of millennials buy beauty products online at least once a week compared with 21.2% of Gen Zers.

On the company鈥檚 earnings call, CEO Mark Zuckerberg noted growth among young adults on Facebook, particularly in Groups and Marketplace, and the rise of Threads, which is about to hit 200 million monthly active users鈥攂oth of which are tailwinds for future ad revenue growth.

The study shows that 40% of consumers use TikTok for information, with the app being especially popular among younger generations, as 64% of Gen Z and 49% of millennials do so. This highlights TikTok's importance for businesses targeting these demographics. TikTok is not limited to a specific niche; it has become a go-to platform for a wide range of topics.

Gen Zers and young millennials are changing their shopping habits. Chinese fast-fashion giant Shein has lured young shoppers away with its ultra-low prices and trending designs, while Primark has also seen strong growth as shoppers returned to the high street to cut back on delivery costs and returns. UK consumers are also shopping secondhand more to save money.

What's interesting is that, when we look at our figures by generation, we have Millennials as the most prominent users of What's App. 35% of them, Millennial smartphone users using What's App. 35% versus 25% for the younger Gen Z, and 25% for the older Gen X. Very interesting trend there, with that Millennial group driving What's App. Jasmine Enberg (10:40):. That makes a lot of sense to me, actually.

Millennials and Gen X are gobbling up tons of TikTok videos, too. TikTok users ages 25 to 54鈥攍argely the millennial and Gen X generations鈥攚ill spend over 45 minutes per day on the app, well above time spent by 25- to 54-year-old users of other social platforms. This is important for three reasons:. Millennials and Gen X are a sweet spot for advertisers.

They lag Gen Xers and millennials in terms of user numbers and average daily time spent on the platform, although time spent is decreasing among age groups under 55. Facebook鈥檚 Gen Z gains are driven by practicality and general aging. Roughly 36% of Gen Z is still under 18.

Millennials consider themselves busy multitaskers and like communications that don鈥檛 require their full attention. Messaging across mobile apps, texts, social media, and emails can all help FIs effectively communicate with their millennial customers. However, the older generations鈥� preferences get progressively less digital with age. Gen X is flexible and likes informal communication styles.

Gen Z adults and millennials spend the most time playing games. Nearly one-third (29%) of Gen Z adults spent over 13 hours per week playing video games, according to January 2023 data from Morning Consult. But 14% of millennials reported playing more than 24 hours per week鈥攖he highest percentage of any age group. Baby boomers aren鈥檛 keeping up in terms of time spent.

The percentage is higher among Gen Zers (49%) and millennials (44%). 4. The millennial impact. 鈥淢颈濒濒别苍苍颈补濒蝉 are really at that sweet spot of being very interested in beauty and having more discretionary income than younger demographics,鈥� Canaves said. 鈥淭hey鈥檙e also going out a lot, and there鈥檚 a strong connection between beauty and real-world experiences such as travel and dining.鈥�.

What the trend means for banks: Young adult consumers鈥� needs for financial institutions (FIs) differ from that of older generations. A sizable portion of young adults may start earning a salary more quickly than previous generations, but they won鈥檛 have to dedicate a large portion of it to student loan repayments.

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. Digital products and services are now entrenched in consumers鈥� health journeys.

On this top B2B network, millennials and Gen Zers will make up 61.6% of total US users in 2023, per our forecast. User growth this year will be most notable in Gen Z, rising 20.0% YoY. B2B buyers use social media to reach sellers and to share experiences.

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+.

This will also mark the first year that approximately half (49.8%) of Gen Z users will tap-and-pay, following in the footsteps of millennials (63.0%). Features introduced in 2023 will quickly spread across major open-loop wallets鈥攁nd be adopted by consumers鈥攖ransforming them into commerce enablers in 2024.

On today鈥檚 podcast episode, we discuss if folks will start consuming news on WhatsApp, how people get their news on digital channels, and some interesting generational gaps that exist regarding social media news consumption. Join host Marcus Johnson, along with director of reports editing Rahul Chadha and vice president of media, content, and strategy Henry Powderly for the conversation.

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%).

And since 2020, Cornerstone Advisors鈥� report found the percentage of Gen Zers who consider a megabank to be their primary checking account provider has dropped from 35% to 27%, and among millennials from 41% to 32%. More than a third of Gen Zers and millennials, and nearly three in 10 Gen Xers, currently consider a fintech or digital bank to be their primary checking account provider.