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.
Those aged 18-34 are powering key consumer categories, especially those that offer connection, fun and wellness.
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.
Younger generations are rewriting the rules of spending – with values, identity and community at the centre.
Live your values – align with causes and ethics Gen Z cares about, and follow through with meaningful action
Design for identity – create products and experiences that help younger consumers express who they are
Build community – foster spaces (digital or physical) that reflect new ‘third place’ dynamics.
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.
Head of Hospitality and Leisure, Barclays Corporate Banking
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