Gen Xers are still slow to adopt most social platforms. Meta platform adoption far exceeds that of other platforms among Gen X. Approximately 69% of Gen Xers are on Facebook, while 38% are on Instagram, well ahead of the less than 20% on TikTok, Snapchat, Reddit, or Twitter. Gen Xers spend more than twice the amount of time on Facebook than on Instagram.

The unexpected twist: Gen Xers and baby boomers shopped Temu more frequently and spent more than younger shoppers in 2023, according to research firm Attain as reported by Bloomberg. Consumers ages 59 and older were also the most loyal, placing about six orders over 12 months, twice as many as Gen Z consumers ages 18 to 26.

Gen Xers and baby boomers shopped Temu more frequently and spent more than younger shoppers in 2023, according to research firm Attain as reported by Bloomberg. That trend may be a result of Temu’s presence on Facebook, where we forecast consumers ages 55 to 64 spend an average of 25 minutes a day (more than any other age group).

Gen X will comprise 23.1% of all BNPL users in 2027, with healthy user growth among that generation and baby boomers. Yet many campaigns—such as Klarna’s team-up with A$AP Rocky—still cater squarely to younger consumers. Realizing Gen X and boomer potential will require BNPL providers to segment more of their marketing dollars across generations. To view the full forecast, click here.

The figure is larger among millennials and Gen Xers, likely due to the younger cohort’s lower level of financial independence. What does this mean? Podcasts offer an entertainment alternative that both speaks to Gen Zers’ niche interests and offers a break from a screen (although not all take it).

If consumers make a purchase without fully considering it, they could end up regretting the decision and return the product. 58% of Gen Zers, 55% of millennials, and 56% of Gen Xers regret at least one impulse purchase they made after seeing a product on social media, per an August 2023 survey from Bankrate and YouGov. That number rises to 62% for baby boomers.

Gen Xers spend their time on YouTube and Facebook, taking a utilitarian approach to digital channels by adopting digital platforms that make a task faster and easier. They use YouTube for education and entertainment and Facebook for communication with family.

About 29% of Gen X used BNPL in 2023, but this share will jump to 40.5% by 2027, according to our forecasts. The share of baby boomers will jump from 13% in 2023 to 17.9% in 2027. More use cases. Consumers can use BNPL in more product and service categories. Affirm recently partnered with an eyewear retailer, for example, and Klarna partnered with a B2B car-rental company. Greater acceptance.

Giving up hope: What percentage of Gen X consumers have stopped saving for retirement, not because they don’t want to, but because they can’t afford to? A) 33%. B) 56%. C) 64%. D) 70%. Almost two-thirds of Gen Xers have stopped saving for retirement because they can’t afford to, according to a survey from Clever Real Estate as reported by WRAL TechWire. June 16, 2023.

These FIs serve mostly Boomers and Gen Xers. Developing a strong digital customer experience could woo younger generations still searching for their primary FI.

On today's episode, we discuss the social media trends to pay closest attention to for the rest of the year and beyond. "In Other News," we talk about the significance of Snapchat's membership program, Snapchat+, reaching 1 million users already and Clubhouse's latest plans on how it wants to evolve. Tune in to the discussion with our analyst Debra Aho Williamson.

Millennials and Gen Xers overindexed in smartwatch uptake, likely a reflection of higher income levels. In H1 2023, 41.1% of high-income respondents owned a smartwatch. Ownership of smart home products grew to 26.8% in H1 2023. This was up 2.9 percentage points from H1 2022. Suburban respondents overindexed at 31.3%, well ahead of urban (23.8%) and rural (22.0%).

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.

Half of millennials own some type of a wearable device they use for health purposes, per our survey, compared with 36% of Gen X and 32% of boomers. Smartwatches are the device of choice, used by 76.5% of millennials in our survey, compared with 62% for Gen Xers and 46% of boomers.

It’s no surprise that 18- to 24-year-old TikTok users spend a lot of time on the app—79 minutes per day, according to our latest forecast. But what’s not so obvious is that Millennials and Gen X users are gobbling up tons of TikTok videos, too.

Gen Z will make up 20% of the population in the US this year, putting it solidly in line with millennials, Gen X, and baby boomers, per the US Census Bureau. That said, 42% of Gen Zers will still be minors, and as a result their spending power will remain below that of older generations.

In the US, 56% of Gen Z adults prefer to buy from companies that reflect their social values, according to Morning Consult. Gen Z’s figure is slightly lower than those of other generations, with Gen X at 61% and baby boomers and millennials at 59% each.

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.

The digitally native generation does not watch TV the same way baby boomers, Gen Xers, and even millennials might. Here are five tips we picked up at NYC Advertising Week that marketers can use to engage Gen Z with TV.

About half conduct extensive research on product ingredients and their benefits before buying, per McKinsey, compared with only one-third of Gen Xers and one-fifth of baby boomers. Brand websites are the top resource.

In fact, they’re the second-likeliest generation to use it for banking research after Gen X. Within social platforms, Gen Z is partial to user-generated content about banking information. They opt for customer comments and posts as a source of banking information on social media.

On average, 37.4% of millennials and Gen Zers say social media helps them become aware of a bank’s products and services, versus just 16.5% on average for Gen Xers and baby boomers. Most ads are minimally effective in building brand awareness among younger consumers.

Millennials (31.3%), Gen Xers (20.2%), and baby boomers (12.1%) all use social media for health-specific reasons far less frequently. They also see social media as an outlet to discuss their health conditions with others.

Many brands on TikTok have even begun to turn to influencers from the Gen X and baby boomer generations to help distill their messages. With the threat of a TikTok ban waning in the UK, marketers should continue allocating spend to the platform. The UK banned TikTok from all government devices earlier this year.