Today In Data

Serving Microbusinesses, Gen Z Consumers With Innovative Approaches 

Serving Microbusinesses, Gen Z Consumers

Credit unions (CUs) have been particularly invested in helping microbusinesses, with a sizable share of them intending to launch innovations geared toward these companies within the next three years. And in retail, a newly restructured firm has come onto the scene to create and market health/beauty brands for Gen Z and millennial consumers. All this, Today in Data.

Data:

92%: Share of microbusinesses that are seeing cash flow crunches as a result of the pandemic.

86%: Share of global Gen Z customers who spend money on cosmetics.

40.8% Portion of CUs planning to develop more microbusiness-focused products.

27M: Number of individuals in the U.S. who work for microbusinesses with fewer than five employees.

$2.8B: Sales of U.S. “prestige” beauty products in Q2 2020.

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