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Gen Z shoppers are spending more on items that they can ‘show off’
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Those aged 14 to 29 are hyper-aware that the stuff they buy and show off is subject to immediate scrutiny.
ST PHOTO: LIM YAOHUI
Many in Generation Z can justify shelling out US$550 (S$700) for a Coach purse but not dropping US$15 (S$19) for a Sweetgreen salad. The former is an investment that can look cute in countless TikTok videos, the latter is a pile of veggies that is gone in one sitting.
Each generation’s spending proclivities reflect the economy in which it came of age. Baby boomers, raised in post-war prosperity, chased middle-class milestones like cars and homes. Gen X, burned by the dot.com bust, prioritised saving. Millennials, scarred by the Great Recession, were the YOLO (You Only Live Once) generation, spending on experiences.
