Gen Z is the newest “it” generation on the scene, and their economic power is growing rapidly. By 2030, Gen Z’s income is expected to quintuple and will represent at least 27% of total global income.
But this soon-to-be economic giant is often misunderstood. It’s time to get to know Gen Z, their spending habits, and what they’re looking for in financial institutions.For example, Gen Z likes a mix of traditional and contemporary payment options. A TransUnion report dispels the pervasive myth that credit cards have fallen out of favor with Gen Z, when in fact over 50% have their own credit cards. On the other hand, Gen Z also welcomes non-traditional payment choices, such as person-to-person payment apps and cryptocurrency. While traditional options like cash and debit cards remain the most used payment types across all generations, Gen Z uses digital payment methods more than other generations.Interested in learning more about Gen Z finance trends? Register for the webinar presented by Zogo, Get to Know Gen Z. We’ll discuss:
-Gen Z’s payment preferences and spending habits
-What Gen Z is looking for in financial institutions
-How your business can best connect with and serve Gen Z
Sydney Mayer is the Marketing Manager at Zogo. Born and raised in Denver, CO, she went on to graduate with a master’s degree in Professional Writing from Carnegie Mellon University with an emphasis on brand strategy. Formerly a Content Writer at Zogo, she is deeply connected to the educational content that engages and benefits users of all ages. Now an expert in Zogo’s gamified educational content and its value, Sydney is dedicated to helping financial institutions engage and retain Gen Z and next-gen members through Zogo’s award-winning suite of products.