You might be quick to lump Millennials and Gen Z together. After all, both groups are young, tech-savvy and changing the way we shop, consume and save. But like all the generations before them, they are unique. Generation Z (also known as Centennials) is now 28% of the U.S. population, with 5% over the age of 18. Millennials, now the largest generation in the workforce, makes up about 19% of the U.S. population and are deep into making big money decisions as they launch families and careers. This presentation highlights how both groups are behaving in the credit space, illuminates if they embracing certain credit products and touches on how their credit scores are trending.
And most importantly, what do these discoveries and insights mean for lenders?