Generation Z Spending Habits
To find out about the habits and financial intentions of Gen Z.
Are they savers or spenders?
- A Nielsen study found that 32% of Gen Z set money aside in savings and felt confident about it.
- 71% of Gen Z respondents to a survey claimed that saving for the future was a priority.
What are they spending on?
- Their spending power is around $200 billion.
- They like to spend their money on food and eating out with a study showing that 24% of their spending was on eating out.
- Gen Z women like to shop for beauty products, hair care and quality makeup rather than clothes.
Does brand loyalty increase when a company/brand has sustainability goals?
- Gen Z have a low loyalty to brands with only 16% shopping at a single store for clothing.
- 60% of Gen Z expect brands to be socially responsible to earn their custom.
- 86% of Gen Z want to own a home and 54% think that student debt is an obstacle.
Are they deep in student loan debt?
- 74% of Gen Z graduate will graduate with student loans debts.
In addition to this public search, we scanned our proprietary research database of over 1 million sources and were unable to find any specific research reports that address your goals.
Proposed next steps:
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After conducting initial research, we propose to provide 5-7 insights on Gen Z spending habits including what they spend their money on and their propensity to save.
In addition, we also propose to provide 5-7 insights on their views of homeownership and their main obstacles to homeownership such as student debt.
Finally, we propose to provide 3-5 insights on their brand loyalty including the factors that would make them more loyal such as social responsibility and ethics.