Aged between 12 and 27, the Zs are not the consumers of tomorrow, but of today. Today, they represent 25% of the global population. The Nielsen IQ foresight firm has devoted its latest report to how this demographic group spends its money.
Everyone’s talking about Generation Z. For Nielsen IQ, it’s vital to focus on this cohort, because “it’s the largest generation to date (two billion individuals) and will probably be the largest of all time. It will be the richest generation ever, the fastest-growing in terms of purchasing power, and will spend more than the baby-boomers by 2029.”
The average 25-year-old American has an annual income of $40,000. “But that doesn’t mean Gen Z spend their money willy-nilly, they’re cautious,” comments Nielsen IQ.
Z, who are you?
Authenticity is a key value for this generation. “Zs identify more with influencers on social networks than with Hollywood stars, for example. Being true to oneself is a criterion for success for these consumers,”
According to the report, these young people are concerned about the climate and protecting the planet. 77% say they refuse to buy products from countries with poor environmental policies. “However, their excessive consumption goes against their principles,” emphasizes Nielsen IQ. “We must bear in mind, however, that these consumers are prepared to pay more for so-called sustainable alternatives. This can represent an interesting business opportunity for brands. However, price and quality are equally influential factors in the purchasing decisions of …
