Gen Zers make up about 20% of the US population, and they’re growing up. The digitally native generation has unique shopping habits after going through the pandemic during their formative years. From TikTok to the creator economy to payments trends, here’s how our analysts predict Gen Z will change shopping.
A double-whammy for TikTok: The embattled video app was fined for millions in the UK, and banned from Australian government devices.
Gen Zs are more likely to start their shopping journey on TikTok than Google: They’re also less likely to cut back on discretionary spending, despite inflation.
Nearly half of US millennials are members of a travel loyalty or rewards program, the highest among all generations, according to a Morning Consult survey. The higher their income, the more likely US adults are to belong to such a program—more than three-quarters of those earning $100,000 or more hold a membership.
Greenlight upgrades its distribution model: The family neobank expands from a direct-to-consumer marketing model to also partnering with banks and employers.
Diversity in video ads is waning amid wider DEI drop: Some states seek DEI curbs, but consumers are willing to tie their purchases to inclusion.
Life insurance ownership is dwindling among US consumers, but demographic trends can shape acquisition strategies of new life insurance policyholders. Addressing pain points of Gen Z consumers can help marketers boost ownership rates of policies.
Roblox’s ad struggles show the metaverse’s waning importance: Advertisers may choose to stay away from the platform thanks to new rules limiting exposure and restricting content.
Social platforms are gaining in search: More US consumers are researching products on TikTok, YouTube, and Instagram, which could bode ill for Amazon and Google.
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.
Chewed out on Capital Hill: TikTok CEO testimony fails to convince lawmakers, leaving platform's future in the US uncertain
Scroll through TikTok and you’ll see young users explaining why acting millennial online is “cringe,” or embarrassing. But millennials are still the biggest buyers on social media. As Gen Z grows up, they’re gaining on millennials a bit. But millennials will continue to outnumber Gen Z—and other generations—on social media through at least 2026.
As the possibility of a TikTok ban grows in the US, users are looking for other platforms to satisfy their short-video needs. In a Cowen survey, 26% of adult US users said they’d switch to Instagram Reels, and 21% said they’d head to YouTube Shorts. Meanwhile, 37% had no plans to use another short-video app.
Next year, ecommerce will make up 75% of total US resale volume and reach $90 billion, according to our forecast. US resale is also growing faster than overall retail sales, and retailers want in on the market. Whether you’re launching a resale program or examining the opportunity, here are five charts to help.
The number of Gen Z mobile banking users will reach 33.7 million in the US this year and continue to grow at a compound annual growth rate of 12.4% through 2026, per our forecast.
Amid the turmoil, a neobank has an identity crisis: MoneyLion can’t sell the reason for owning a content studio.
Alcohol ecommerce is growing. See how alcohol purchase trends are shifting, who’s buying, and how to reach new customers.
Advertising groups keep the DEI push alive: Consumers have shown they want more diverse content. Advertisers would be foolish to turn away.
Paid sharing will cost Netflix viewership in 2023: The streamer must avoid losing the long-term loyalty of Gen Z.