Younger consumers are entering their financial prime with a new set of priorities. From purpose-led purchasing to ‘doom spending’ (impulsive purchases to cope with stress or anxiety), they have a distinct view on finances, a unique approach to socialising, and they demand more from brands.
Whether it’s sustainable beauty, second-hand fashion, or weekend wellness, younger shoppers are actively choosing products and experiences that reflect both their values and their social feeds.
Shifting values, rising influence
Those aged 18-34 are powering key consumer categories, especially those that offer connection, fun and wellness.
29% plan to prioritise spending on fun and memorable experiences over the next three years
30% admit to ‘doom spending’ – higher than the 21% national average
45% now prioritise sustainable brands more than they did 10 years ago
Three trends defining Gen Z spenders
Among Gen Z, health and wellbeing, fitness and memorable experiences like live shows and concerts are key priorities.
This infographic shows key findings in response to the survey question, “Thinking about how your spending habits have changed in the last 10 years, to what extent do you agree or disagree with the following statements?”
Data highlights:
- 30% of Gen Z respondents agree that they are more likely to ‘doom spend’ now than 10 years ago
- 29% of Gen Z respondents are more likely to spend on fun and memorable experiences
- 30% of Gen Z respondents are more likely to spend on health and wellbeing
A new kind of consumer culture
The concept of the ‘third place’ – social spaces outside of home and work – is being reshaped by younger consumers. For Gen Z, it’s less about late nights at the pub and more about cafés, gyms, co-working hubs or wellness studios where community and lifestyle take priority over alcohol.
32% of under-35s prioritise travel spending (vs 26% across all age groups)
30% prioritise fitness/gym spend (vs 15% across all age groups)
33% prioritise spending on socialising (vs 18% across all age groups)
What this means for brands
Younger generations are rewriting the rules of spending – with values, identity and community at the centre.
“Gen Z is turning away from old nightlife norms and towards health, culture, and shared values. It will be a few years before we see whether the preferences of Gen Alpha follow suit, but businesses will need to monitor societal and cultural trends closely and be quick to respond and adapt.”
Rich Robinson, Head of Hospitality & Leisure at Barclays UK Corporate Bank
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