With all the focus on the assurgency of Millennials, less attention has been spent looking at the spending power of Gen Z. And the time that has been spent considering these figures? Well, there’s some gray area.
It is cited frequently on the internet that Gen Z spends $44 billion a year on themselves and influence another $600 billion in spending by others. Unfortunately in most cases, these statistics are presented without: 1) explanation or context or 2) support from the references they cite.
As Gen Z evangelists, we decided it was time to dig deeper. After all, how can brands properly prioritize this pivotal generation if they are unable to fully understand the power these young consumers have when it comes to increasing the bottom line?
Our latest white paper, The Power of Gen Z Influence: How the Pivotal Generation is Affecting Market Spend, outlines the efforts of our own Consumer Intelligence Director, Joe Cardador, PhD, to estimate Gen Z’s spending power that marketers can use to put the influence of this generation in perspective. Specifically, it explores:
Direct Spending: What Gen Zers spend on themselves
Spending on Gen Z: What families spend on their Gen Z members
Indirect Spending Influence: How much of overall family spending Gen Z influences
Get your copy here!