Digital-first initiatives have helped the group’s spending jump by 23%
Health and beauty retailer A.S. Watson has announced that Generation Z is now its most prolific consumer group, with a 23% increase in its spending power in 2018.
The company found that, on average, 86% of Gen Z are beauty shoppers, while over 70% of Gen Z spending is on beauty, the highest proportion across all generations.
According to Bloomberg, Gen Z became the largest consumer segment in 2019 and now accounts for 32% of the global population of 7.7 billion.
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