Global Scans · Millennials · Weekly Summary

• Predominantly the offspring of millennials, their immediate forerunners, Generation Z, are projected to surpass Baby Boomers in the workforce by 2024, as noted by Glassdoor. Dataconomy
• The vast majority of RV purchasers are millennials, and 2024 expects to see more Gen Z pick up the RV lifestyle. RV PRO
• The proportion of births born to Millennial women will steadily decline, falling below 75% of all births in 2023, below 50% of all births in 2028, below 25% of all births in 2032, and below 10% of all births in 2035. Institute for Family Studies
• The majority of the workforce in the next 10 to 20 years will be digital natives, led by Generation Z and supported by a mature Millennial generation. Digital News Asia
• Millennials and Gen Z will become the beneficiaries of the greatest wealth transfer in history over the next two decades. Accenture
• With the last of Baby Boomer generation approaching retirement, Millennials are set to become the primary beneficiary of the Great Wealth Transfer, which will see older generations pass on wealth of $100 trillion through inheritances. Galaxy
• In America, $84 trillion of wealth is expected to be passed down from older Americans to millennial and Gen X heirs through 2045, with $16 trillion transferred by 2033. Forbes
• BNPL will continue its upward growth Younger consumers such as millennials, Gen Z, and Gen Alpha, with a relaxed attitude towards credit, will continue to drive the upward growth of Buy Now Pay Later in Europe, and elsewhere. Novalnet
• Over half of Gen Z investors said they expect to invest more in stock-related investment in 2023 than last year, compared to 43% of millennials, 19% of Gen Xers, and 9% of boomers. Fortune
• Gen Z will spend 56% more on gift cards in 2023 than last year - much higher than the 19% rise for millennials, 25% rise for Gen X and 9% rise for Baby Boomers. Modern Retail
• Millennials and generation Z are spending more on music than other age groups and that global music revenue will reach US$ 155 billion by 2030.246 30% of young Southeast Asians are using music streaming services daily. Australian Policy Online
• By 2045, $72 tn of wealth will be passed from Baby Boomers and the older members of Gen X to Millennials. LocalGlobe Notes
• We are on the cusp of a huge generational transfer taking place, with an estimated $84 trillion projected to be passed down from older Americans to Millennial and Gen X heirs through 2045, with $16 trillion expected to be transferred within the next decade. Traders Magazine
• Gen Alpha are the children of millennials and the older end of Gen Z, and are expected to reach some 2.2 billion globally by 2024. Digiday
• In the next 10-15 years, the financial markets and economy will be significantly impacted by three major forces: (1) Millennials, Generation Z, and artificial intelligence. investing.com
• Gen Z and millennials together comprise some 38% of the global workforce - expected to be 58% by 2030. Forbes
• To be clear, Simulation IV does not assume a 9 percentage point increase in Coalition support among Boomers, Gen X and Millennials between 2022 and 2040. The Centre for Independent Studies
• 40% of Gen Z adults and 48% of Millennials say they own life insurance and a record-high proportion of Gen Z and Millennials say they intend to purchase coverage within 2024. Digital Insurance
• 74% of millennial and Gen Z employees would quit a job in a year if there were no opportunities for upskilling and development. FCA
• An estimated 75% of Millennials will comprise the global workforce by 2025, a figure that will continue to rise as Baby Boomers make the transition into retirement. The CEO Magazine
• A recent survey indicated that a remarkable 63% of Millennials expect to change jobs for higher pay in 2023; 55% of older workers have similar expectations (Deloitte Millennial Survey). Seeking Alpha
• Younger generations (Millennials, Gen Z, and Gen Alpha) across the U.S. could experience between 6 to 7 °F of warming over their lifetimes if high levels of emissions continue. Climate Central

Last updated: 11 February 2024