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Older consumers feel the most strongly, with 68% of baby boomers and 62% of Gen Xers saying lower fees could compel them to switch. The speed of transfers was the next most-cited factor in switching providers. It was the biggest overall driver for Gen Z remittance users, with 38% saying they would switch for faster transfers.

Gen Z (55%) and millennials (62%) have made more travel purchases on their smartphones, compared with their older Gen X (44%) and baby boomer (28%) counterparts, according to March 2024 data by Hopper.

They are YouTube, TikTok, Instagram, and Snapchat. There are also more Gen X social network users than linear TV viewers, and YouTube is closing in.

Generational targeting that addresses the unique worries of Gen X and millennials, who feel the most pressure. Positioning financial professionals as partners in long-term resilience beyond wealth growth鈥攅mphasizing planning, not just products.

Influencer marketing is often associated with Gen Z and millennials, and for good reason. Nearly half of both generations are more likely to trust an ad featuring an influencer they trust, according to June 2024 data from Captiv8. But 79.8% of US Gen Xers and 53.9% of US baby boomers will use social media this year, per our May 2024 forecast. To ensure marketers seize the untapped potential for reaching these generations, we鈥檝e compiled a generation-by-generation breakdown on how and where to reach them.

Key stat: The younger the consumer, the more likely they are to accept cookies if asked. More than half (57.6%) of US Gen Z consumers say they 鈥渙ften鈥� or 鈥渁lways鈥� accept cookie notifications, compared with 53.4% of millennials, 46.8% of gen X, and 36.0% of boomers, per a July 2024 蘑菇AV survey.

Gen Zers are ready to spend. The majority will be adults in 2023, meaning increased spending power. And they rely heavily on digital when making purchases: Gen Z will surpass Gen X in the number of US digital buyers by 2025, per our forecast.

Gen Zers and millennials are more likely than older generations to do their holiday shopping in-person at the mall, whereas Gen Xers and baby boomers are more likely to shop online via retailer websites, per The Harris Poll.

Thirty-one percent of US adults said social media has a positive effect on their mental health, per YouGov. However, almost as many (30%) feel it has a negative influence. Across generations, millennials are most likely to report a positive effect, while Gen Xers are more likely to cite a negative impact.

Handing out en masse: Consumers are giving out their whereabouts in bulk, and the gap is narrowing between people who do so with one person versus three or more. 41% of Gen Zers, 34% of millennials, and 42% of Gen Xers share with three people. 16% of Gen Zers and 12% of Gen Xers go even further, handing that information out to five people.

For those seeking a Gen X audience, shopping and weather apps also have high downloads, with 52% and 51%, respectively, of Gen Xers downloading those. 50% of millennials also prefer shopping apps, but they also throw gaming apps (50%) into the mix.

Among all generations, Gen Xers are the least likely to cancel their subscriptions (66% versus 72% of the total population), according to a June 2024 survey by LendingTree. A quarter of Gen Xers watch Disney+. At 25.5%, Gen Xers are in third place for Disney+ adoption among the generations.

Gen Zers lag behind millennials and Gen Xers in digital buyer penetration, as a large portion of Gen Z does not yet have disposable income. As these future digital buyers grow up and become financially solvent, their digital behaviors should be closely watched. Financial rewards are not the only motivation for Gen Z.

In 2024, the proportion of Gen Zers and millennials who said they need life insurance was 95%, versus 72% of Gen Xers and baby boomers, per Limra鈥檚 US 鈥�2024 Insurance Barometer Study.鈥�. The interest is there, but insurers must convert it into action.

Digital buyer penetration is highest among millennials and Gen X, with over 90% of these cohorts making purchases online. Gen Z and baby boomers will account for most of the penetration gains through 2029. Overall growth in digital buyer penetration is slowing as the market reaches saturation.

Another 55% are more likely to buy from brands that prioritize green initiatives, while 50% are more likely to buy from brands that emphasize DEI. 70% of US adults expect that brands will follow through on their social stances, with over three quarters of millennials and 71% of Gen X feeling this way.

Gen Z shoppers are 33.9% more likely to have abandoned at least one brand or business over 12 months, according to a Capital One Shopping survey. 81% of Gen Z and millennial consumers have switched brands in the past year, compared to 74% of Gen X and 63% of Baby Boomers, according to December 2024 data from Salesforce.

Gen Z is rapidly closing the adoption gap, on track to surpass Gen X users by 2028. The shift is driven by Gen Z's increasing disposable income as they enter the workforce, coupled with their enthusiasm for emerging technologies and AI-enabled features. Despite this momentum, significant growth potential remains untapped, particularly among older demographics.

In comparison, only 15% Gen Xers and 13% of baby boomers have done so. Saving versus spending: Despite the risk of tighter budgets as general costs rise, there鈥檚 a behavioral gap for some shoppers between financial anxieties and continued spending on nonessential tech. 60% of consumers are adjusting or will adjust their budgets and 40% are cutting back on nonessential spending.