For millennials, if you ask them what their styles or preferences were, you'd get a cheerleader or an athlete, or nerdy or gothic - you had sort of one label that you had to fit into, Nakajima said. With our Gen Z audience, we're seeing that it's very different.
Gen X represents just 19% of the U.S. population but accounts for 31% of all retail spending, yet retailers seem to forget the significance of this generation. The powerhouse demographic of 45- to 60-year-olds is approaching peak earning years with $42 trillion in current household wealth and an estimated $1.4 trillion a year in inherited assets projected over the next decade.
