My Generation: What Your Birth Year Says about How You'll Spend

Goldman Sachs Exchanges

Julia McGonagle

Business

4.4 • 1K Ratings

🗓️ 10 January 2017

⏱️ 26 minutes

🔗️ Recording | iTunes | RSS

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Summary

Each new generation comes of age with different experiences and preferences than their parents. Goldman Sachs Research's Hugo Scott-Gall, Lindsay Drucker Mann and Christopher Wolf discuss how the differing habits of three generations that make up the bulk of US consumption today -- Gen X, Millennials and Gen Z - are changing how Americans spend and manage their careers. This podcast was recorded on October 4, 2016. All price references and market forecasts correspond to the date of this recording. This podcast should not be copied, distributed, published or reproduced, in whole or in part. The information contained in this podcast does not constitute research or a recommendation from any Goldman Sachs entity to the listener. Neither Goldman Sachs nor any of its affiliates makes any representation or warranty, as to the accuracy or completeness of the statements or any information contained in this podcast and any liability therefor (including in respect of direct, indirect or consequential loss or damage) is expressly disclaimed. The views expressed in this podcast are not necessarily those of Goldman Sachs, and Goldman Sachs is not providing any financial, economic, legal, accounting or tax advice or recommendations in this podcast. In addition, the receipt of this podcast by any listener is not to be taken as constituting the giving of investment advice by Goldman Sachs to that listener, nor to constitute such person a client of any Goldman Sachs entity. Copyright 2017 Goldman Sachs. All rights reserved.

Transcript

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0:12.6	This is exchanges at Goldman Sachs where people from our firm share their insights on developments currently shaping markets, industries, and the global economy.
0:15.6	I'm Jake Stewart, global head of corporate communications here at the firm.
0:19.3	How does when we're born affect how we spend or save.
0:23.0	We're here today to understand the answer to that question
0:25.1	by discussing three successive generations,
0:28.2	Generation X, millennials, and the youngest of the bunch,
0:30.9	Generation Z.
0:32.3	I'm joined by Hugo Scott G, my fellow Exer, and
0:35.4	the young guns, Lindsay Drucker Mann and Christopher Wolf of Goldman Sachs research.
0:39.5	Hugo, Lindsay, Chris, welcome to the program.
0:42.4	Thank you. I have to the program. Thank you.
0:43.0	I had to be here.
0:44.0	So to kick things off, let's talk about why you view generational research as important.
0:49.0	Hugo, I'll direct this one to you, since you lead the firm's thematic research team. Are generational
0:54.0	differences real? Why do we pay attention to them and what can this research
0:58.0	tell us? They're important because they can help you understand how and why consumption differs among
1:04.3	stage groups it's very important to know that X's those born between 1965 and
1:08.7	1980 and as you helpfully pointed out Jake I'm an Xer are not consuming in the same way as the baby boomers
1:15.1	who were born between 46 and 64 did so Gen Z again and who come after the
1:20.4	millennials are not going to consume in the same way as the millennials.
1:23.2	So if you can understand what shapes each of these generations attitudes and beliefs, then you can
1:28.2	understand a likely consumption behavior.
	...

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