Millennials

• There is an opportunity for US hotel spas to offer family packages and customize the experiences based on each family member, which will allow hotel spas to capture the highest amount of revenue.
• The booming esports sector driven by millennials has been forecast to grow at CAGR of 22.3% to 27.4% over the next few years.
• An evolving workforce: Millennials and Generation Z will represent more than 75% of the global workforce by 2025.
• By 2020, millennials will make up 35% of the global workforce with Gen Z making up 24%.
• In the next four years, the number of people using mobile wallets is expected to hit over 1.7 billion worldwide.
• Driven by the preferences of millennial consumers, the fintech industry is expected to generate revenues of $500 billion in ten years.
• This year, more millennials will be in America than members of any other generation.
• Trends such as millennials and retiring baby boomers driving less will result in a dramatic per-capita drop in motor fuel demand from 1,054 litres (2018) to 599 litres (2040).
• In Canada, 63% of Millennials have been classified as at 'High Risk' of unemployment in 2017, up from 56% the previous year and 53% the year before.
• By 2028 used clothing is set to grow to $US64 billion in the US, while fast fashion will only reach $US44 billion, with the trend mainly driven by Millennials and Generation Z.
• Over the next 30 years, in the US alone $30 trillion of wealth will be transferred from baby boomers to millennials and generation Z.
• Millennials are forecast to account for 75% of the global workforce by 2025 and today's 12 and 13-year-olds will be entering employment by the end of the decade.
• Millennials (ages 24 to 39) and Generation X (ages 40 to 55) could drive nearly $1 T or more of wealth into bitcoin over the next 25 years as both generations embrace the emerging technology and asset class.
• With Millennials and Gen Z set to become the largest segment of consumers in the U.S. by 2024, now is the time for new entrants to solidify their presence and engage customers without the baggage of traditional banks.
• Currently the largest living generation in the U.S., by 2025 Millennials will account for 75% of the American workforce.
• The two youngest generations, Millennials and Generation Z, will compose nearly 70% of the workforce over the course of the next decade while the previous three generations are still in the workplace.
• The Great Wealth Transfer will see an estimated $68 trillion passed down from boomers over the next 30 years, and by 2030, Millennials will hold five times as much wealth as they have today.
• In the coming year, millennials and the Gen Z generation will account for almost 60% of the global workforce.
• In the coming decades, America will undergo a major shift in wealth, as baby boomer numbers and wealth are eclipsed by Gen Xers, millennials, and Gen Zers.
• By 2030 millennials will hold five times as much wealth as they do now for a total of $20 trillion in assets globally, with baby boomers expected to pass down another $30 trillion in assets by 2050 in North America alone.
• Marketers have been targeting the younger generations for a few years now, but in 2020, millennials and Gen Z will truly hit their stride in terms of spending power.

Last updated: 10 January 2021