"A new Wells Fargo survey finds younger generations are driving a shift toward digital cash gifts, choosing convenience and flexibility over traditional wrapped presents. A staggering 45% of Gen Z and 42% of millennials say they'd rather receive digital payments, compared with 27% of Gen X and just 10% of baby boomers. "I feel like we're influenced by older generations," Steve Selfridge, Wells Fargo's product management director, said to USA Today. "We're kind of taught it's not OK to ask for money.""
"Physical gifts are still popular-but money is quickly catching up. About 48% of gift recipients prefer cash or checks, and 29% would like digital payments through Venmo, Zelle, PayPal, or Cash App. Gift-givers aren't quite as enthusiastic about it: Only 34% enjoy giving cash or checks, and 18% digital payments. Among younger gift-givers, 32% of Gen Z and 28% of millennials are comfortable sending digital cash, compared to 11% of Gen X and 7% of baby boomers."
A Wells Fargo survey shows a clear generational divide in gift preferences, with 45% of Gen Z and 42% of millennials preferring digital payments versus 27% of Gen X and 10% of baby boomers. Overall, 48% of recipients prefer cash or checks and 29% prefer digital payments. Gift-givers show less enthusiasm: 34% enjoy giving cash or checks and 18% digital payments, while younger givers are more comfortable sending digital cash. More than half of gift-givers find digital cash impersonal, and nearly half of recipients feel awkward asking, despite 65% citing freedom and convenience.
Read at Fast Company
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