Gen Z’s growing economic power is expected to “permanently change” the investing landscape over the next ten years. 

Gen Z’s growing economic power is expected to “permanently change” the investing landscape over the next ten years. According to Bank of America strategists, Gen Z (who they define as currently between four-24-years-old) is “on the brink of disrupting everything from luxury goods to alcohol consumption” and investors should start preparing as soon as possible. Gen Z’s income is set to grow 400% over the next decade to $33 trillion, and they will hold “more than a quarter” of global income by 2030—and are predicted to surpass Millennials’ spending power the year after. Ecommerce is one of the industries that is protected to benefit from the surge: Nearly 45% of U.S. teens are “almost constantly” online and more than a quarter say their top payment choice is their phone. Earlier this year, YPulse reported that Gen Z teens’ spending power already reached $34 billion. (Business Insider, Bloomberg)