by Reid Litman
Gen Z is living a stark contrast when it comes to financial readiness and wellbeing. Data abounds about both their bleak hopes of achieving ‘traditional’ markers of financial success, and their binge spending habits, especially in the luxury sector, that are leading to credit card debt and delinquencies. Nearly 33% of Gen Z workers have saved nothing for retirement in the last two years.
For financial services brands, this dichotomous set of beliefs and behaviors opens up a massive (and important) opportunity to educate our younger consumers and help give them back control over their financial future. To understand the challenge and potential for solutions, jump into The Support Gap: How Financial Services Brands Can Win With Gen Z.
Reid Litman is a Global Consulting Director with Ogilvy Consulting, and is based in New York.
