More than half (53%) of Gen Zers got financial advice from friends and family, compared with 44% for millennials, 37% for Gen X, and 25% for baby boomers, perCreditCards.com. Through Wealthfront, UBS acquires a sizable customer base within the millennial and Gen Z demographic. It also gets the digital tech and an omnichannel experience needed to reach out to them.
Millennial and Gen X respondents preferred in-store to curbside pickup by a wider margin than other groups. Gen Zers and boomers in our survey also favored in-store pickup, but with a smaller gap in relation to curbside.
Buy now, pay later (BNPL) services are more popular among younger generations: 26% of US adults ages 34 and under regularly use these financing solutions, compared with just 8% of those 55 and older.
Changing a debit card PIN in the app saw almost equal demand from Gen Zers (39%), millennials (41%), and Gen Xers (39%). The other two top tools—viewing bank documents and activating a new debit card—registered a gap in demand of 6 percentage points or less among these cohorts.