Gen Z, the digital natives who are taking over from millennials, are setting future financial trends. But what makes them tick investigates Investec?
Digital-first customers are no longer the future of banking – they are the present.
Millennials (25-39 years old) and adult gen-zers (18-24) represent over $3 trillion in spend. The sheer size of gen Z should be reason enough for financial institutions to start paying attention to this generation.
Analysis by Bloomberg suggests that this group will make up a hefty 32% of the global population in 2019 - outstripping even millennials. Estimates of what they and other generations close to them will inherit over the next years range from $15 trillion to $68 trillion, and some are expected to also become wealth creators at a younger age.
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