Goldman Sachs Says Millennials Are Old News
Millennials are so last year...at least that's what analysts at Goldman Sachs say. Instead, market researchers should pay attention to Gen Z, the generation born after 1998.
Developers are spending record amounts to crack the Millennial code, particularly in the hospitality sector.
Yet, in a note to clients, Goldman Sachs says the more diverse Gen Zs will soon outnumber Millennials and end up more impactful, Business Insider reports.
Gen Zs are expected to be more pragmatic, and be happier with rising "ethnic diversity in America than prior generations," the note says.
In addition, they'll be more financially conservative, and have new tastes, which could prove challenging for developers as they get ready to hit the housing market.
Goldman Sachs’ insight into Gen Zs had one glaring omission—if we’ve already made it to Gen Z, what do we call the next generation? [BI]