It’s the new normal for everyone.
Generation X - the demographic grouping born between the mid-1960s and 1980 - is often overlooked by businesses. Yet this cohort is earning more and spending more than at any time in their lives. What's more, in part due to a looming wealth transfer from their parents, they are expected to become tens of trillions of dollars wealthier over the next two decades. In China and India, Gen Xers are already more prosperous than their parents.
Many are also part of the ` sandwich-generation '. Caught between caring for younger children and aging parents, they are time-starved. By helping to simplify the complexities of Gen Xers' lives, businesses will be well placed to tap into the growing wealth of this important group of consumers.
Technological advances have also seen an increase in behavior transfer between Gen X parents and their Gen Z teens in an `echo effect', where they influence each other's habits and choices.