Gen Z Infographic – Money, Earning, and Spending

GEN Z CONSUMERS SPEND MONEY DIFFERENTLY

#GenZstudy | @WhatTheGen

Gen Z Is Earning Money Earlier Than You Might Expect

70% of Gen Z currently earn their own spending money
This is about the same as Millennials, who are 10 years older on average!

Gen Z Consumers Spend Money Differently

65% of Gen Z guys prefer to spend more on products, compared to 53% of Gen Z girls
48% of Gen Z say they will often or always get input from friends and family before making a purchase
44% of Millennials say they often or always get input from friends and family before making a purchase

Gen Z Shopper Influences

30% of Gen Z prefer to get information on a brand from a real customer of that brand, compared to 39% of Millennials
19% of Gen Z prefer to get information from an online influencer, whereas only 13% of Millennials seek influencers’ opinions
30% of Gen Z believe YouTube ads are the most trustworthy type of ad—more than television, print, radio, and social media

YouTube Influences Gen Z’s Learning

85% of Gen Z watched at least one online video in the past week to learn a new skill!

Gen Z Turns to Ratings and Reviews Before Buying

In the past 30 days, Gen Z has used online ratings and reviews to:

Buy a product online – 72%
Buy an item in person – 78%
Pick a movie – 69%
Eat at a restaurant – 53%
Decide not to purchase an item – 66%
While shopping at a retail store – 52%

The above insights are from a national study led by The Center for Generational Kinetics in 2017. The national study surveyed 1,004 members of Gen Z ages 14 to 21 and 1,000 Millennials ages 22 to 38.

To schedule a media interview with the Gen Z experts at The Center for Generational Kinetics, contact Shannon at 512-259-6877 or Shannon@GenHQ.com