Why Gen Z May Be the Most Important Generation of Consumers

Gen Z includes individuals aged 10-22, which encompasses around 2 billion people worldwide and 40% of U.S. consumers. By 2031, Gen Z's income will account for one-quarter of the world’s total income, outweighing the currently dominant Millennial generation. Gen Z prefers products that promote inclusion, sustainability, and ethical business practices. In 2020, the trust that these young people placed in large corporations dropped by 10%. With so many young consumers on social media sites, mobile-first marketing becomes an essential part of successful business models.