This age cohort’s obsession with customised experiences poses significant challenges for companies, says the Financial Times’ Gillian Tett.
NEW YORK: In recent months, payments company Visa has quietly started to offer customers a new feature: A digital tool that lets them cap spending in a personalised way, for example by restricting the bill at coffee bars to a preset limit each week.
And since most business leaders today are baby boomers or members of Gen X, , many feel baffled by Gen Z, and assume they are identical to millennials .However, Gen Z also has a higher incidence of self-reported mental health issues than millennials, while its members prefer to get their information from online peers rather than authority figures.
To boomers and Gen X-ers, this trend can seem irritatingly entitled. Just ask any middle-aged manager who has tried to persuade younger staff to work in an office at set hours. As a survey by Workplace Intelligence and Amazon shows, if Gen Z-ers cannot customise jobs to their needs, they prefer to quit.For Gen Z, and many millennials, this pick’n’mix approach feels not just empowering but normal.
Some, such as online brokerage Robinhood, have done this in eye-catching style. During the pandemic it expanded rapidly by enabling users to customise their financial investments, often on the back of crowdsourced advice. Crypto featured prominently, which makes sense given that digital assets are effectively a customised form of money.However, the crypto implosion has taken the sheen off Robinhood and other fintech start-ups.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Commentary: California mass shootings reveal a complex narrative of Asian seniors in the USThe perpetrators behind two mass shootings in California do not fit the typical profile of a mass shooter, but they resemble elderly Asian immigrants who have fallen through the cracks in America, shares Jan Lin Lee.
Read more »
Commentary: Addressing Singapore’s long-term challenges - where will the money come from?The upcoming Budget 2023 on Feb 14 - Singapore's first post-pandemic Budget - will bring longer-term challenges into sharper focus. Recent moves like the GST hike will help close the funding gap, but they may not be enough, say Coface economists Bernard Aw and Eve Barre.
Read more »
Commentary: Bard, Bing and Baidu - how Big Tech’s AI race will transform searchIf tech companies won’t make as much money from selling links via search results, will they try to sell information gleaned from our interactions with search chatbots?
Read more »
Commentary: Kopitiam goes digital - the end of an era for physical stored-value cards in SingaporeFairPrice Group’s decision to phase out Kopitiam physical cards after Jun 30 has sparked a debate between digitalisation and the alienation of those who are less tech-savvy. NUS Business School’s Samer Elhajjar weighs in.
Read more »
Commentary: Is 13 too young to have a TikTok or Instagram account?At what age should parents allow children to have their own social media account? Protecting kids from the risks isn’t as straightforward as simply raising the minimum user age or banning social media outright, says this academic.
Read more »
South Korea Finance Minister sees inflation easing by April-MaySEOUL : South Korea's finance minister reaffirmed on Friday his view that consumer prices would ease around the April-May months, a week after data showed the country's annual inflation had unexpectedly ticked up in January.'The inflation data will get better to a level we need to worry about less than at
Read more »