With Millennials making up roughly a quarter of the world’s population, it’s not surprising that they’re shaking up traditional industries. Millennials and Gen Z (people born between the mid-1990s and mid-2000s) are finally reaching an age where they have disposable income and few if any, children. Unlike older generations, they’re not tied to large mortgages and are eager to spend their hard-earned cash.
While it’s hard to determine whether Millennials earn more than previous generations, research from the World Data Lab reveals the influence of Millennial consumers. As Millennials and Gen Z build their careers and make more money, they’re quickly increasing their spending power to become one of the world’s most influential consumers. So, how exactly will Millennials and Gen Z shape the world economy and organizations working in the financial sector?
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