25 Mind Blowing Stats on Gen Z Spending Habits

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While a big chunk of Generation Z is still too young to be employed and spend their own hard-earned money, they still have a huge impact on the buying decisions of their households. As a matter of fact, Forbes reported that 93% of parents admitted that their Gen Zer kids influenced their household spending. That’s just one statistic and not even the most interesting one. Considering the power they already sway, marketing teams have devoted a lot of time to get to know this younger generation better and identify the fundamental differences across generations. We’ve scoured the web and summed up some of the most interesting Gen Z statistics in this blog post. 25+ Statistics on Gen Z Spending Habits: 1. Generation Z Make Up Just Over 20% of the US Population. 2. They Have a Spending Power of $140+ Billion 3. In 2020, 25% Started Financial Planning 4. Half Freelance 5. They’re Expected to Spend Just Over $1,000 During the Festive Period 6. It’s Not All About Online Shopping 7. Social Media Has a Powerful Impact 8. They Spent Less on Amazon in 2020.

9. Almost 6% Follow a Vegetarian Diet 10. Homemade Food Is Not Business Email List High on Their List Read more 1. Generation Z Make Up Just Over 20% of the US Population Statistic: Resident population in the United States in 2020, by generation (in millions) | Statista First things first, Generation Z refers to the age group born between 1997 and 2012. According to data shared by Statista, in 2020, there were 67.06 million Gen Zers in the United States and they accounted for 20.35% of the US population. As of 2020, it was the third biggest generational group, just after millennials (21.93%) and the baby boomers (21.45%). What’s more, compared to other groups, they’re also the most ethnically and racially diverse. 2. They Have a Spending Power of $140+ Billion According to Business Insider, they have a spending power of more than $140 billion. What’s more, it was predicted that they would make up approximately 40% of global consumers in 2020.

3. In 2020, 25% Started Financial Planning The COVID-19 pandemic forced most of us to re-evaluate our priorities. As a result, in 2020, about 25% of Gen Zers in the US started financial planning for the first time. 4. Half Freelance Statistic: Freelance participation in the United States as of 2020, by generation | Statista While many Generation Zers are still too young to be formally employed, a survey completed in 2020 revealed that 50% of the Gen Zers between the ages of 18 and 22 that participated in the study worked on a freelance basis. It was the highest across all generational groups. To put this in perspective, only 44% of millennials freelance, while only about a third of Generation Xers freelance.