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Study Finds Gen Z Spreads The Brand Wealth
Generation checkout // Illustration by Kate Walker
A new study found that Gen Z’s spending habits are full of contradictions.
Why It Hits: Understanding how Gen Z — the generation currently driving culture — spends its money is key for brands planning their marketing campaigns, product launches, and even categories for investment. Gen Z’s penchant for spreading its hard-earned dollars across more baskets than other generations could crown new winners… and spell bad news for brands accustomed to having a foothold.
Behind The Receipts: A new report from Attain and Dentsu reveals some surprising insights into Gen Z’s spending patterns.
Gen Z spends 25% less than other generations, but spreads that money across 6% more brands.
They’re 25% more likely to value brand names over price discounts, yet 18% less likely to buy from the same brand twice.
And while Gen Z prefers purchases that save time rather than money, they’re also 7% more likely to use coupons.
Final Tally: So, what is Gen Z spending money on? Per the study, 66% of their daily spending goes toward things like “eating out, entertainment, travel, clothing, electronics, beauty, and rideshares,” per Fast Company. Meanwhile, other generations devote about 58% of their daily spending to those categories… partly because they’re spending a lot more on groceries.
Maybe the study reveals one key demographic difference — Gen Z is naturally the generation least likely to have children right now, meaning fewer mouths to feed. And no children means a lot more discretionary purchasing power.
The Future: Since Gen Z is having kids later in life, its discretionary-spending era could last much longer than that of previous generations. That could have a profound impact on what stays cool over the next decade.
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Today’s email was written by David Vendrell.
Edited, polled, and copy-edited by Kait Cunniff.
Published by Darline Salazar.