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Gen Z and millennials constituted over 70% of monthly active users on ShareChat this year

Economic Times

Economic Times · 1y ago

Gen Z and millennials constituted over 70% of monthly active users on ShareChat this year

Gen Z and millennials make up more than 70% of the monthly active users on ShareChat. ShareChat, an Indian social media platform, has seen significant traction among the younger generation, reflecting their preference for engaging with digital content. This trend showcases the growing influence and importance of Gen Z and millennials in the digital landscape.

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Fashion giant Myntra records 60 Mn monthly users during festive season

Inc42 · 1y ago

Fashion giant Myntra records 60 Mn monthly users during festive season

Fashion ecommerce major Myntra recorded 60 million monthly active users during the festive season, with a growth of 100% YoY in its loyal customer base in the past 18 months. The Gen Z fashion segment witnessed a surge in demand and a 175% YoY growth in customers. Myntra aims to attract 10 million Gen Z users and exceed 100,000 styles on its app-in-app feature, FWD, by 2023. The company achieved a 70% YoY growth in its direct-to-consumer space and introduced AI-led features. Myntra faced competition from Ajio, Tata CliQ, and Nykaa Fashion.

Where should brands invest more?

Inshorts · 2m ago

Where should brands invest more?

There’s no one-size-fits-all answer. If your audience is young like Gen Z or early millennials, Instagram should be your focus. They love visual content, trends, and fast interactions. But if your audience includes parents, working professionals, or older millennials, Facebook is still very active and effective. The smartest brands don’t pick just one, they use both.

Younger workers are actually using AI on the job less than Gen X and millennials

Business Insider

Business Insider · 1y ago

Younger workers are actually using AI on the job less than Gen X and millennials

A recent study by Ernst & Young conducted with a third-party research group found that older American workers (~74% of millennials and ~70% of Gen X) are more open to using AI at work than Gen Z. The study suggests that younger workers may trust AI less and be less convinced of its value. Some possible reasons include differing levels of comfort with new technologies and higher expectations of technology by Gen Z, who may quickly move on if AI doesn't meet their needs. However, some Gen Z workers have found AI helpful in their jobs.

Pinterest hits record-breaking numbers thanks to Gen Z

Gizmodo

Gizmodo · 1y ago

Pinterest hits record-breaking numbers thanks to Gen Z

Pinterest witnessed its highest number of monthly active users in the third quarter, reaching a total of 482 million. The platform's growth was largely influenced by Gen Z users, who are considered the fastest-growing and most engaged demographic. The company's stock rose by 17% following the positive quarterly performance, with advertisers showing interest in reaching the Gen Z audience. Pinterest's advertising products, such as the 'Shop The Look' feature, have been successful in delivering relevant content to users. However, there is concern about maintaining the platform's unique appeal while increasing advertising presence.

Millennial financing meets Gen Z ways: How India’s young are rewriting the money script - The Economic Times

Economic Times

Economic Times · 2m ago

Millennial financing meets Gen Z ways: How India’s young are rewriting the money script - The Economic Times

India's millennials and Gen Z are redefining financial norms with unique strategies. While millennials focus on stability and long-term planning, Gen Z embraces risk and digital tools for quick returns. Both face challenges in balancing aspirations with limited savings, underscoring the need for financial literacy and accessible credit. Digital adoption is pivotal, with smartphones as modern wallets. This evolution fosters a hybrid financial culture blending traditional goals with modern ambitions, reshaping India's financial landscape.

Howbout raises $8M from Goodwater to build a calendar that you can share with your friends

TechCrunch · 11m ago

Howbout raises $8M from Goodwater to build a calendar that you can share with your friends

Howbout, a social calendar app, has raised $8 million in Series A funding led by Goodwater Capital. The app allows users to share their calendars with friends, schedule events, and plan meetups. Founded in 2020 by Neil Tanna, Jake Jenner, and Duncan Cowan, Howbout aims to make time management a social experience. With over 4 million monthly active users and 50 million events created, the app is popular among Gen Z, with 75% of users sharing their full calendar with at least one friend. Howbout offers features like group chat for events, voting on meetup times, and the ability to add future events to bucket lists. The company plans to use the funding to expand in the U.S. market and focus on growth, targeting Gen Z users who are comfortable sharing their personal schedules.

30% of GenZ begin investing in university, early adulthood: WEF

Business Today

Business Today · 5m ago

30% of GenZ begin investing in university, early adulthood: WEF

The World Economic Forum's Global Retail Investor Outlook 2024 reveals that 30% of Gen Z begin investing during university or early adulthood, a significant increase compared to previous generations. The report, covering 13 economies, also highlights that 41% of Gen Z and Millennials are open to using AI for investment management. Additionally, 86% of Gen Z gain investing knowledge by workforce entry. The focus for 2024 is on emergency savings and understanding investment options.

Gen X, Millennials eager to leverage artificial intelligence at work: Report

Economic Times

Economic Times · 1y ago

Gen X, Millennials eager to leverage artificial intelligence at work: Report

According to a report by LinkedIn India, a majority of Millennials and Gen X professionals are eager to leverage artificial intelligence (AI) at work. Over 75% of Millennials and 74% of Gen X professionals believe that AI will help take boring tasks off their plate, allowing them to focus on more exciting tasks. The report also highlights the curiosity and enthusiasm of Gen Z professionals towards AI. Overall, professionals of all age groups value both soft skills and technical skills as they prepare for the future of work.

In emails to Peter Thiel, Mark Zuckerberg outlined Meta’s millennial strategy for the decade

Economic Times

Economic Times · 1y ago

In emails to Peter Thiel, Mark Zuckerberg outlined Meta’s millennial strategy for the decade

CEO Mark Zuckerberg of Meta Platforms (formerly Facebook) discussed the company's focus on millennials and younger generations in emails with investor Peter Thiel in 2020. They predicted a rapid shift of power from the boomer generation to millennials and Gen Z, and suggested that Meta's messaging and board composition should reflect this change. Zuckerberg also questioned who the core demographic for Meta should be, as the company tries to attract younger users through features like Marketplace and Groups. Meta aims to stay relevant for the next generation.

Livestreaming income, higher ad revenue boost ShareChat's FY24 topline

VCCircle

VCCircle · 9m ago

Livestreaming income, higher ad revenue boost ShareChat's FY24 topline

Indian social media company, ShareChat, reported a 33% YoY increase in consolidated revenue for FY24, reaching INR 718 crore ($97 million). This growth came from a rise in income from livestreaming, which experienced a 41% YoY increase to INR 402 crore ($54 million). The company also saw a 23% YoY growth in advertising revenue, reaching INR 315 crore ($42.5 million). ShareChat's adjusted EBITDA loss narrowed by 67% in FY24, and the company expects to achieve full profitability by the end of FY25. ShareChat claims to have over 325 million monthly active users across its platforms.

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