UK consumers’ shopping habits have undergone a change that is unlikely to be reversed. According to our latest forecast, nonecommerce retail sales will drop by 16.0% this year, followed by a recovery in 2021. However, sales will never reach pre-pandemic levels.

We estimate that 38.5% of Gen Z smartphone users in the US will transact via these apps. By the end of 2025, this proportion will be closer to 62%.”.

S&P Global Market Intelligence found that more than 50% of Gen Zers, mIllennials, and Gen Xers are using mobile apps more frequently, compared with a little over 40% for baby boomers and Seniors. Additionally, more than half of the two oldest generations said that they didn’t make changes to their mobile app usage.

Millennials and Gen Zers will account for 84.9% of Snapchat’s user base, or 70.5 million. The UK will have 16.2 million monthly Snapchat users in 2020, or 24.1% of the population. Eight in 10 (83.0%) of Snapchat’s UK users will be millennials and Gen Zers, equating to 13.2 million. We define Gen Zers as individuals born between 1997 and 2012, and millennials as individuals born between 1981 and 1996.

Gen Z and millennials are the most likely to make a purchase via social media. According to our latest forecast, around half of US social network users ages 18 to 34 will make at least one social commerce purchase in 2021, compared with around one-third of those ages 55 and over.

This year, we project that digital-only banks will recover strongly by meeting pent-up demand from their major demographics: the unbanked, Gen Z, and Millennials. We expect demand to normalize by 2023, and that digital-only banks will follow a growth trajectory similar to incumbents, albeit from a higher base.

UK teens and adults from the Gen Z demographic (ages 12-23) still overwhelmingly prefer traditional banks to their digital-only challengers, according to a May 2021 Marqeta report.

Amex can boost volume and revenues by targeting younger consumers (specifically millennials and Gen Zers), who—along with small businesses—contributed the largest portion of spending growth in Q2, according to Amex CEO Stephen Squeri. Earlier this year, Squeri said younger consumers were spending at 125% of their pre-coronavirus levels.

This figure reflects growing interest, with appetite especially high among Gen Zers—trends mirrored in Visa’s massive H1 crypto total. And there’s a long runway for gains since cryptos still composed just 0.02% of Visa’s total volume in the period.

That’s followed by Gen Zers, which account for 30.3%. “The pandemic has accelerated the growth of the BNPL industry by offering consumers more flexibility and easier payment plans,” said Oscar Orozco, eMarketer forecasting director at Insider Intelligence. “The surge in ecommerce has also been a boon to the industry, as consumers have relied more on digital shopping to fulfill their needs.