By 2025, they are predicted to represent 70%. This marks a significant shift: In 2019, Gen Z and millennial consumers represented 44% of global luxury buyers, Quartz reported. Members of Gen Z, who comprise a lot of zillennials, are buying luxe three to five years earlier than their millennials cohorts had. Young consumers are now the driving force behind luxury market sales, the consultant Bain & Co. This is how they want to spend their money: Top-shelf labels. Take, for example, that 54% are fully employed, according to research by PYMNTS. This indicates that nearly 70% of zillennials can be convinced to trade their data if it’s a fair swap.īeyond their mere size and spending power, zillennials embody other traits that earn them the status of a focused retail marketing segment. 70% of millennials and 65% of Gen Zers are more willing now to trade their personal data for discounts and perks than they were a year ago, according to new research from Tata Consulting Services. They are increasingly more willing to share their data.All that money is instead being spent on experiences and stuff, and retailers and brands would do well to keep tabs on that. As many as 48% of adult zillennials live with their parents, Business Insider reports, so they likely don’t pay a mortgage or rent, let alone utilities. They’re in the sweet spot of spending power.Two key factors in particular explain why: But zillennials are just unique enough, and numerous enough, to earn their own powerhouse status in retail marketing. Retailers may think they’ve got this – the industry has been following how millennials and Gen Zers shop for years. This is the name for that hybrid population born between 19 (that’s 23- to 33-year-olds), which bridges millennials and Generation Z. Retailers, how geared is your marketing strategy for the zillennial micro-gen? They’re 30 million strong, they live at home and they are willing to tell you all about their spending habits. Here’s how their attitudes about money and data sharing matter a lot for the future of retail marketing. Posted on FebruThe Who, What And Why Of Zillennials, Retail’s Next OpportunityĪ large, sub-group of consumers who straddle millennials and Gen Z are getting more retail attention due to a few unique shopping behaviors.

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