Loading...

Gen Z: Game of Scrolls

Published: April 23, 2019 by Stefani Wendel

Gen Z enters the economySo often a microscope is set on examining millennials and their behaviors – especially when it comes to their priorities and finances. But there’s a new generation entering the economy, with an entirely new set of preferences, behaviors and approach to money. Enter Gen Z.

According to Bloomberg, this year, Generation Z becomes the biggest consumer cohort globally, “displacing millennials as a top obsession for investors.” This generation (falling between the ages of seven and 22) is 61 million strong and has a spending power of $143 billion in the U.S. alone.

While much of the population that makes up Generation Z may still be in school, they are already creating their reputation as conscientious consumers. And lenders and financial institutions need to get in front of them if they want a chance at these meaningful investments.

Because this generation has grown up in a world where the internet has always existed, everything can be ordered and delivered on demand, and communications occur over mobile platforms like Instagram and Snapchat, they view the world – and finances – through a different lens.

Bloomberg suggests the following Gen Z broad trends; which investors should consider if they want this growing generation in their portfolios:

  1. They can be influenced. According to a recent Bloomberg survey, 52% of Gen Zers said they primarily find out about new products from social media. And they are 3 times more likely to purchase a product recommended by one of their favorite influencers than by a television or film celebrity.
  2. They have different vices – beyond just their smartphone addictions. As they are growing up in a world where screen time is eminent and cannabis is becoming legal (already legal in 10 U.S. states), they live with a different world view than many of the other generations.
  3. They don’t have to go to stores. Gen Z shops via clicks, not bricks.
  4. They choose their brand loyalties carefully. This generation is interested in environmental issues and ethical shopping, which drives their consumer activities, meaning it’s time for new considerations when it comes to marketing.
  5. They eat differently. Less likely to eat meat, we’re already seeing the shift that fast-food restaurants and packaged-food distributors are taking.

What does this mean for financial institutions? You don’t have to be a social media influencer to get Gen Z in your portfolio – but it wouldn’t hurt.

Many reports indicate that by 2020, Gen Z will command nearly 40% of all consumer shopping. With shopping driven by scrolling and purpose-driven purchases facilitated primarily by online transactions, gaining an understanding of these young consumers’ credit and charge card habits means you can better understand bankcard wallet share and target them as they start joining the workforce and beyond. In the not-too-distant future, there will be a need to examine high spend to increase interchange income.

Trended data solutions can gain insight into these consumers as well as help you target and offer new lines of credit as they purchase with purpose – fueling them with credit to fund the ventures that matter to them most.

Learn More

Related Posts

While Experian is known as a trusted source for credit insights, we have built a reputation for helping car shoppers, dealers, and lenders make informed decisions with confidence in the automotive space. Leveraging the value of data is key for identifying the latest trends in markets, behaviors, and industry changes. In fact, Experian’s Automotive Market Trends Report: Q1 2025 revealed the latest shifts in alternative fuel type registrations. Through the first quarter of this year, data found that growth in retail registrations for electric vehicles (EVs) is slowing compared to previous years, reaching 7.8%, down from 7.9% last year and 7.1% the year prior. Meanwhile, hybrids increased to 13.6% of new retail registrations through Q1 2025, from 11.3% through Q1 2024 and 8.8% through Q1 2023. Some of the uptick in hybrids may be attributed to consumers’ concerns with EV charging infrastructure and range anxiety. Hybrids are known to offer practical middle grounds—with the convenience of refueling and not having to plan longer trips around charging availability, this fuel type is becoming a more ideal choice for some. Vehicle preferences continue to vary by age group Through Q1 2025, Gen Z accounted for 14.8% of new retail hybrid registrations and 8.4% of EV registrations, while Millennials made up 15.9% for hybrid and 11.4% for EVs. On the other hand, Baby Boomers were at 16.3% for hybrids and 5.9% for EVs this quarter. Younger generations have naturally gravitated towards the gas-alternative fuel types as it aligns with their current lifestyle, including everyday commuting and the tech-forward features that these vehicles offer. As the automotive industry continues to evolve, staying attuned to the shifting landscape is essential. We’re committed to delivering insights that will help professionals make forward-looking decisions and stay ahead of the curve. To learn more about vehicle market trends, view the full Automotive Market Trends Report: Q1 2025 presentation on demand.

Published: July 7, 2025 by John Howard

Understanding generational trends and preferences is more crucial than ever, especially for the financial services industry.

Published: June 24, 2025 by Josee Farmer

Electric vehicles (EVs) continue to gain traction in certain markets. In fact, at the end of 2024, 9.2% of all new retail registrations were electric, up from 8%+ in 2023 and 6%+ in 2022. Clearly, more and more in-market shoppers are leaning towards EVs, but what is actually a determining factor in their decision? A recent Experian survey [1] found 65% of respondents said they prioritize battery life, while 62% consider price, 58% are concerned with range on a full battery and 53% are focused on infrastructure and maintenance. It’s not just EVs, hybrids are getting into the mix While EVs certainly are the buzzword in the industry, it’s not the only alternative fuel type consumers are opting for. For instance, 55% of respondents said they’d consider a new hybrid and 50% said they’d consider a new EV for their next vehicle purchase. On the used side, 38% of respondents said they’d consider an EV and 42% would consider a hybrid. More granularly, the survey revealed 67% of Gen Z and 61% of Millennials are likely to buy a new EV, while 62% and 63% of these groups, respectively, expressed similar intentions for purchasing new hybrid. Gen Z and Millennials also showed a stronger-than-average interest on the used side, with 57% and 49% opting for EVs, and 57% and 52% choosing hybrids. With the younger generations gravitating towards these fuel types, it’s likely going to influence adoption rates down the road, a trend that should be watched closely as manufacturers roll out more models to meet the growing demand. However, when assessing the viewpoints of other generations, some are less likely to purchase an alternative fuel type. Two-in-five, albeit still a healthy percentage, of Gen X respondents said they’re likely to purchase a new EV and only 25% of Baby Boomers shared a similar sentiment. Meanwhile, 27% of Gen X and 12% of Baby Boomers say they’re likely to purchase a used EV. Furthermore, 46% of Gen X and 43% of Baby Boomers indicated they are likely to buy a new hybrid, while 33% and 21% of these groups, respectively, conveyed similar thoughts towards purchasing used hybrids. It’s crucial for professionals to stay attuned to shifting trends and concerns among consumers, as these factors play a role in consumer decision-making. By addressing potential setbacks and knowing where their target audience is, they can better align their strategies with consumer needs as these fuel types continue to move up on the list for everyday commuters. To learn more about EV insights, visit Experian Automotive’s EV Resource Center. [1] Experian commissioned Atomik Research to conduct an online survey of 2,005 adults throughout the United States. The sample consists of adults who estimate they will purchase or lease their next vehicle within the next 24 months or sooner. The margin of error is +/- 2 percentage points with a confidence level of 95 percent. Fieldwork took place between March 24 and March 27, 2025.

Published: April 30, 2025 by Kirsten Von Busch