Gen Z will surpass Millennials in total income until 2031

In the latest OK Zoomer: Gen Z Primer report released by Bank of America, it points out that Gen Z (born between 1995 and 2009) will see their incomes increase fivefold by 2030 to $33 trillion in total income, accounting 27% of the global income and surpass Millennials by 2031.
According to the report, Generation Z has been familiar with Google and other Internet companies since childhood, and 40% of them prefer to make virtual friends. They have been using social media for more than six years, and don’t like to use credit cards. Their economic, market and social influence will grow in the future, which will force the market to adapt to them.

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