Gen Z, Younger Millennials Drive Major Shifts in How Consumers Earn and Spend
Combined worldwide spending on independently created content, items purchased via peer-to-peer commerce, and ridesharing services will grow to a total of $294 billion by 2026
IDC's Consumer Pulse, a survey of consumers in seven countries, revealed dramatic shifts occurring in how different generational cohorts earn income, spend their money, and leverage technology to do both. Stark differences between Gen Z/Younger Millennials and older consumers promise to transform the tech landscape over the next decade.
A staggering 48% of all households surveyed reported engaging in at least one source of tech-enabled income generation in 2022, led by content creation, peer-to-peer commerce, and rideshare driving. This trend is driven by Gen Z- and Millennial-led households, where 60% of Consumer Pulse respondents said they derived such income in the last year.