45 Gen Z Consumer Trends & Statistics You Need To Know In 2023
DealAid curates Gen Z shopping and spending statistics from public data, private organizations and other sources. You will find key statistics for Gen Z shopping habits below. Please refer to the footnotes for original data sources.
*This resource will be updated with more recent statistics when more data becomes available.
Key Gen Z Consumer Statistics
- There are about 2.5 billion Gen Z in the world and they account for 32% of the world’s population.
With a staggering population of around 2.5 billion individuals, Generation Z comprises a notable 32% of the world’s total population. Their unique values, preferences, and attitudes have a profound impact on a wide range of industries, from technology and media to fashion and entertainment.
- By 2030, Gen Z are expected to earn $33 trillion globally, out earning all other generations.
With their unprecedented demographic size and growing economic power, Gen Z is poised to become the most affluent generation in history. By 2030, this cohort is projected to earn a staggering $33 trillion globally, outpacing the earnings of all other generations.
- In the US, 68 million Gen Z spend $140 billion annually and influence an additional $127 billion in spending annually by family and friends.
The Gen Z population in the United States, which currently stands at around 68 million individuals, wields significant purchasing power, with an annual spending of $140 billion. But their impact on the economy doesn’t stop there. This cohort also exerts a considerable influence on the spending habits of their family and friends, contributing to an additional $127 billion in annual spending.
- By 2025, there will be 85 million Gen Z consumers in the United States.
As per the latest projections, the United States is expected to witness a significant rise in the number of Generation Z consumers, with an estimated figure of 85 million individuals belonging to this demographic predicted to be present in the country by the year 2025, thereby making it a crucial segment for businesses to target with their marketing strategies.
- By 2035, 40% of all personal luxury goods purchases will be made by Gen Z consumers.
Market forecasts suggest that Generation Z consumers are expected to become the largest consumer segment for personal luxury goods by the year 2035, accounting for an estimated 40% of all luxury sales globally.
- 88% of Gen Z consumers are omni-channel shoppers where they use both retail and online stores.
According to recent studies, 88% of Gen Z consumers are “omni-channel” shoppers, meaning they use both physical retail stores and online shopping channels to make purchases. This approach enables them to take advantage of the benefits of both channels, such as the immediacy and tactile experience of in-store shopping, as well as the convenience and variety of online shopping.
- 80% of Gen Z consumers have made a purchase due to a recommendation made on social media.
Gen Z, the first generation to grow up with social media as a ubiquitous part of their lives, has a distinctive relationship with digital platforms that extends beyond mere entertainment or communication. Recent studies indicate that a staggering 80% of Gen Z consumers have made a purchase based on a recommendation they saw on social media.
- Product quality, design and price are the most important factors contributing to purchasing decision among Gen Z consumers.
Product quality (66%), product price (65%) and product design (67%) are the most important factors that Gen Z consumers consider when making a purchase decision. Other factors of importance considered by this demographic are sustainability, eco-friendliness, shopping experience and friends’ opinions.
- 32% of purchases made by Gen Z consumers occur on mobile devices.
According to recent statistics, nearly one-third (32%) of transactions completed by Generation Z consumers take place via mobile devices, such as smartphones or tablets, indicating a trend towards mobile commerce within this age group.
- 62% of Gen Z consumers will not use a website that is too slow.
According to recent statistics, a significant majority of Generation Z consumers, specifically 62%, have expressed a clear aversion towards using websites that exhibit sluggish performance and slow loading times, thereby highlighting the critical importance of website speed optimization for businesses that seek to cater to this demographic.
- 87% of Gen Z consumers would like a personalized shopping experience.
Majority of Generation Z consumers – approximately 87% – express a desire for a personalized shopping experience, highlighting the growing importance of tailored marketing strategies and customized product offerings that cater to the unique preferences and needs of this demographic.
Gen Z Consumers & Mobile Devices
- 75% of Gen Z consumers prefer to use mobile devices over desktops, laptops or other devices.
- 95% of Gen Z consumes in the US have a mobile device.
- 55% of Gen Z use mobile devices for 5 or more hours a day.
- 41% of Gen Z consumers used their mobile devices to pay in-store for an item.
- 61% of Gen Z consumers have made a purchase online using their mobile in the past month.
- 31.8% of Gen Z consumers prefer to receive emails from brands as a method of communication.
- 62% of Gen Z consumers will not use a website that’s too slow on mobile.
- 40% of Gen Z consumers prefer to shop online than in-store.
- 85% of Gen Z consumers prefer live chat as customer service option over live calls.
Gen Z Consumers & Social Media
- 88% of Gen Z use at least one social media platform a day.
- YouTube(67%) and Instagram(65%) are the most used social media platforms among Gen Z.
- 83% of Gen Z consumers shop directly on social media sites.
- 43% of Gen Z consumers are willing to purchase a product based on influencer recommendation.
- 33% of Gen Z consumers regularly block and unfollow brands on social media.
- 40% of Gen Z prefer to use TikTok search instead of Google search.
- 61% of Gen Z consumers want protection of their data and privacy when using social media.
- 97% of Gen Z consumers research products and companies on social media prior to making a purchase.
- Average daily time spent on social media by Gen Z is two hours and fifty three minutes.
Gen Z Consumers & Retail
- 62% of Gen Z consumers feel confident about a company if they have positive reviews.
- 87% of Gen Z consumers want a personalized shopping experience.
- 71% of Gen Z consumers stay loyal to brands even when products don’t meet expectations.
- 64% of Gen Z consumers are willing to pay more for sustainable and environmentally friendly products.
- 55% of Gen Z consumers have used Buy Now Pay Later in the past 12 months.
- Easy returns(58%), friends’ recommendations(56%) and friendly customer service (55%) are most important aspect of in-store experience for Gen Z consumers.
- 51% of Gen Z consumers prefer to shop in-store to avoid delivery time and 48% have the same preference to avoid delivery fees.
- Other reasons why Gen Z consumer prefer to shop in-store versus online are; item available only in-store and to try the item in person.
Other Gen Z Consumer Statistics
- 77% of Gen Z consumers expect prices to increases in the near future.
- 60% of Gen Z consumers prefer direct messaging as communication method with brands.
- 77% of Gen Z consumers value gender equality displayed by brands.
- 60% of Gen Z check YouTube at least once a day.
- 77% of Gen Z influence their family’s decisions when it comes to household and food products.
- Only 21% of Gen Z are willing to share their personal information with brands and companies.
- Gen Z is the most ethnically diverse age group in the United States.
- 43% of Gen Z consumers are willing to leave a product review after making a purchase.