Anything For You All: [CHART] Here's why brands and retailers should pay attention to the next generation of consumers...

Kamis, 03 Mei 2018

[CHART] Here's why brands and retailers should pay attention to the next generation of consumers...

NEW CHART & DATA: E-COMMERCE

Why retailers and brands should pay attention to Gen Z…

Gen Zers are young and only beginning to flex their muscles as consumers, but they're already an extremely valuable generation to retailers and brands. This cohort's oldest members are employees, college students, or both, while their younger counterparts still live at home and drive spending there. With both personal and family purchases, Gen Z is already having a profound effect on consumer spending.

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Here are some other key points from the study:

Gen Zers hold an estimated $44 billion in spending power — the funds available to a person or group of people to make purchases — from allowance alone.
Families spent a whopping $829.5 billion on Gen Z in the US in 2015, and $66 billion of that was on discretionary items, according to Fung Global Retail & Technology.
Presently, this segment of the population prefers spending money on clothes and shoes, books and music, and apps, according to the study.
Within the next decade, Gen Zers' spending power will rise exponentially as they become the largest group of consumers globally and a key demographic for retailers.

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