Gen Z spends less money but shops at more stores. New research explains why
They’re far more likely to take taxis or rideshares and drop some money gambling or in prediction markets, but they’re also using coupons and heavy users of public transportation. Welcome to the somewhat confounding spending habits of Gen Z shoppers. As with any generation, stereotyping millions of people based on when they were born can prove to be tricky—but Gen Z is challenging some…
New research from Attain and Dentsu sheds light on the unique spending habits of Generation Z. Despite spending 25% less than other generations, this age group is making their limited funds go further by visiting 6% more merchants. Contrary to expectations, Gen Z consumers are more likely to shop based on brand recognition rather than price, and they're 18% less likely to remain loyal to a single brand.
Rather than sticking to traditional shopping methods, Gen Z is embracing modern conveniences like taxis, rideshares, public transportation, and even gambling and prediction markets. This generation is also more inclined to use coupons, which can help brands rethink their marketing strategies to better connect with this demographic.
While Gen Z still spends a significant portion of their budget on discretionary purchases like eating out, entertainment, and travel, they're less focused on saving money on everyday items like groceries. This generation values time and convenience over regular pricing, and they're open to switching brands, which may require retailers to adapt their traditional marketing approaches.
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