Investors, take note: Gen Z is about to change everything
The first online generation is projected to eventually become the richest, and their financial preferences and social values are already starting to transform industries and markets
MEMBERS OF GENERATION Z, born between 1996 and 2016, prefer eSports to traditional sports and often favor remote to personal interactions, even with friends. As the first generation born into an online world, they prefer to buy everything using apps and go to restaurants to snap photos of the food they eat.
Why does all this matter? “Within a decade or so, their global wealth is expected to jump from $7 trillion to $30 trillion,”1 says Haim Israel, head of Global Thematic Investing, BofA Global Research. In the video above, Israel and Chris Hyzy, Chief Investment Officer, Merrill and Bank of America Private Bank, discuss the many ways Gen Z could transform the markets and economy and what investors need to know.
For insights on another global force that may drive market performance in the years to come, watch Hyzy and Israel’s conversation on AI, “Artificial intelligence: The next great tech wave?”
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