NielsenIQ – GenZ Spending Report, 2024

The NielsenIQ – GenZ Spending Report for 2024 highlights the significant influence of Gen Z on household purchases, as they are the largest, wealthiest, and highest-spending generational cohort in history. Despite economic concerns, Gen Z prioritizes value in their purchasing decisions. However, there is a gap between what they claim they want and what they actually buy. Gen Z's average household income surpasses previous generations, making them wealthier and with substantial spending power. By leveraging Purchase Power Parity, the report accurately gauges Gen Z's spending power across countries in relation to prior generations. With an estimated global spend of $57.6 trillion USD, Gen Z already accounts for 17.1% of the total, and this is forecasted to grow to 18.7% by 2030. The report concludes that Gen Z is the wealthiest generation to date, with their economic influence on the rise and projected total global spend set to increase to $67.2 trillion USD by 2030.