Gen Z is the most broke generation ever; they are no longer influenced by celebrities, and are impulse buyers.
These are just three of the myths about Gen Z, the generation born between 1997 and 2012 (currently aged 13-28), that is in fact poised to become the wealthiest generation ever.
Gen Z’s spending power is projected to grow to an estimated US$12 trillion by 2030, according to NIQ, and the cohort will have a significant influence on the products manufacturers and retailers sell in the near future, says the global consumer intelligence company.
Contrary to popular belief, this is also a generation of considered shoppers, who prefer to gradually discover brands through in-person and online retail experiences before making a purchase.
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