Watch out, millennials — Gen Z is rising up to reshape the economy. The younger generation has quietly come of age while their older peers were in the spotlight, with Gen Z poised to overtake millennials in income by 2031, according to a new report from Bank of America. They’re emerging as a powerful economic force, “compelling other generations to adapt to them, not vice versa,” according to experts. Bloomberg reports Gen Z’s preferences and priorities will likely benefit sectors including e-commerce, media and ESG, while areas including alcohol, meat and cars may suffer from the shift in influence.
