Impulse buying: Are Gen Z shoppers really buying more than everyone else?

A discussion erupted online after a Reddit user expressed disbelief at the spending habits of young people, specifically those on the platform Subdued. The user observed youngsters seemingly at ease with spending large sums of money in a short time, with some questioning where this money was coming from. In response, others shared their own experiences of noticing similar behaviors, both in physical spaces like the Orchard area and at workplaces.

Some suggested that these young people may not be as affluent as they appear, while others defended their spending habits as justified investments or income from personal endeavors. A survey conducted by Vanquis Bank revealed that Gen Z shoppers, particularly those aged 16 to 34, are significantly more prone to impulse buying compared to other age groups.

These individuals make nearly twice as many impulsive purchases as the average person, averaging 74 per year, while millennials (25-34 years old) average 71. The study also found that social media plays a significant role in driving this behavior, with 87% of 16-34-year-olds admitting to making unplanned purchases through social media platforms.

Vanquis Head of Brand Tim Schwarz expressed concern over the trend, noting that while it's not new, younger people's increased susceptibility to impulsive buying can quickly accumulate expenses and lead to financial strain or reliance on credit cards, potentially causing dangerous levels of debt.