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Millennials and Gen Zers made up more than half of these accounts and currently compose one-third of total balances. Much of this growth is directly related to increasing marketing spend (up 30% for 2024) and adding welcome incentives, CFO Christophe Le Caillec said. How Amex consumers are faring: Amex鈥檚 delinquencies and charge-offs are still below pre-pandemic levels.

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

Repeat purchases are higher among younger consumers鈥�41% of Gen Zers make at least one purchase on Temu every month. And consumers aren鈥檛 just coming back鈥攖hey鈥檙e spending more, according to Daniel McCarthy, co-founder of predictive analytics company Theta.

AI companionship: Gen Zers and younger millennials make up a significant portion of Character AI鈥檚 user base, per The New York Times, and 24% of adult generative AI (genAI) users use the technology for companionship. Some of those companions landed Character AI in hot water when personas of deceased and living people were created without consent.

Providing more digital experiences in-store could help retailers attract Gen Z shoppers. 66% of Gen Zers often use their phone in-store to search for coupons and offers, according to Mars United Commerce鈥檚 "Shopper Insights: A Day in the Life of Gen Z" report. 31.9% of Gen Z shoppers say a store鈥檚 mobile app helps them discover new brands or products while shopping in-store, according to 蘑菇AV鈥檚 July

Targeting specific audiences: Gen Zers are slowly leaving big banks for their competitors, which has prompted many larger FIs to build customer relationships in new ways. For example, Capital One has received over 8,000 mentions from 216 YouTube influencers since 2017, per The Financial Brand.

What retailers and brands need to know: Like their Gen Z forebears, Gen Alpha has discerning tastes, honed by an incessant flow of beauty content on TikTok and YouTube. Bright, colorful packaging helps but isn鈥檛 enough to win them over.

Brands aiming to connect with Gen Z online should make sure they have Gen Zers on their marketing teams, according to Shaina Zafar, executive at UTA Marketing鈥檚 Next Gen Practice. Use this chart: Marketers can use this chart to make the case for taking risks online or to pitch partnerships with celebrities and influencers. They can also use it to caution against posting 鈥渃ringe鈥� or dated content.

Brands look to Gen X as the new Gen Z. While discussions of consumer marketing at SXSW have typically emphasized youth culture, this year鈥檚 conference featured a number of sessions on consumers in the 鈥渟ilver economy.鈥� The age demographic of 50 and older already represents some 53% of consumer spending, according to AARP.

Gen Z is a growing part of B2B buying committees. Younger B2B buyers often look to peers and influencers for advice, and videos on social media platforms can significantly influence their perceptions and choices. Gen Z will watch long-form videos, but they prefer short-form digital videos, according to our data. The top B2B video platforms are LinkedIn and YouTube.

For consumers, Gen Z is leading the charge toward becoming more comfortable with sharing personal information with genAI in exchange for rewards. 3. Retailers struggle to keep consumers using their apps. Just 9.0% of consumers continue using ecommerce apps one week after download, according to Adjust. Retailers are losing attention, conversions, and shopper information from previously engaged users.

While self-gifting is down鈥攋ust over one-third of Americans (34%) plan to self-gift this Valentine鈥檚 Day, down from 37% last year鈥攊t is still a priority for Gen Z, according to the study.

According to Capgemini, 71% of organizations expect AI agents to automate workflows, while PYMNTS Intelligence reports that 44% of consumers (including 60% of Gen Z) are interested in AI-assisted shopping. Executive adoption is particularly strong, with AI at Wharton and GBK Collective finding that 72% of senior business leaders are using generative AI (genAI) weekly in 2024, up from 37% in 2023.

蘑菇AV 15% of Gen Z credit card users are utilizing 90% or more of their credit limit鈥攁 higher share than any other generation, per a May 2024 New York Fed report. This stems partly from younger consumers鈥� shorter credit histories and associated lower credit limits. Among the lowest household income quartile, 12.3% of card users utilize 90% or more of their limit, per the New York Fed.

Nearly 32% (31.9%) of Gen Z respondents in our June 2024 Path to Purchase survey reported using apps, second only to discounts and coupons, as an in-store discovery driver.

The platform may not face anti-DEI scrutiny due to its user demographic, which is two-thirds female and 40% Gen Z. Both audiences tend to value DEI policies: 49% of women wouldn鈥檛 work for a company that didn鈥檛 take DEI seriously, per The Conference Board. AI ventures: Pinterest is diving into AI to strengthen its discovery and shopping platform and increase its ad efficiency.

Almost a third (32%) of US Gen Zers and over a quarter (26%) of millennials use a Nintendo Switch, according to a July 2024 report from Collage Group. Here are a few things marketers need to know about Nintendo's new console. The first Switch put Nintendo back on top.

A smaller percentage of Gen Zers and millennials considered digital and neobanks as their primary FI in 2024 than in 2023. And half of the banking customers who opened new checking accounts in 2024 already had at least two other checking accounts. This could mean customers are opening new accounts to sample specific digital tools鈥攂ut never fully switch to them.

Thirty-one percent of Gen Zers surveyed by Censuswide and Tink in the UK鈥攚here open banking rules are already in effect鈥攕aid their bank was at risk of losing them as a customer if it didn鈥檛 upgrade its digital tools and services. Gen Zers said competitors could win their business by offering tailored support for meeting financial goals (49%) or tools to manage spending (48%).

Zooming out: PC-connected consoles are no longer the norm for gaming hardware. 60% of Gen Z gamers and 64% millennial gamers play on mobile phones, per Collage Group. 32% of Gen Z gamers and 26% of millennials play on Nintendo Switch, showing there鈥檚 remaining interest in portable gaming consoles.

And while both Gen Zers and millennials often suffer from 鈥渕oney dysmorphia,鈥� it seems to affect them differently. While Gen Zers are savings fiends, millennials want to:. Pay off debt. Create and build an emergency fund. Buy their first home. Build their retirement investments.