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According to a recent NielsenIQ report, Gen Z will be the largest, wealthiest, and highest-spending generation in history. By 2030, their total spending will reach $12.6 trillion or 18.7% of global spend, potentially reshaping markets and consumer preferences.
Key Takeaways
- Gen Z will become the largest and most economically powerful generation by 2030, driving $12.6 trillion in global spending.
- As digital natives, Gen Z consumers prioritize convenience, social media influence, and ethical values (alongside price and quality).
- With less than half of Gen Z’s spending coming from the West, emerging markets and global trends will play a larger role than ever.
The Rise of Gen Z Consumers
Much of Gen Z’s economic ascendence is driven by its sheer size. World Data Lab research shows that it will likely be the only generation to ever reach 2 billion people, about a quarter of the total global population.
Note
Gen Z is roughly defined as anyone born between 1997 and 2012 (currently aged 13 to 28). It’s the generation after millennials and before Gen Alpha.
But what else makes Gen Z unique? For one thing, Gen Z has never known life without smartphones or social media. This makes them “digital natives,” accustomed to shopping and researching products online. For example, health and beauty are the most popular shopping categories for them on social media.
Meanwhile, Gen Zers are more concerned about the environment, diversity, and ethical sourcing than previous generations, though quality and price are still big drivers of purchase decisions.
What This Means for the World Economy
As Gen Z’s spending power continues to increase, more of the economy will be shaped by their consumer preferences. For example, demand for sustainable goods like electric vehicles (EVs) or digital products like cryptocurrency may gain momentum.
But it’s not just the U.S. that will be impacted. Gen Z is the first generation to have less than half its spending come from Western nations (44%), giving emerging markets an outsized influence. At the same time, social media has helped unify Gen Z’s consumer preferences globally, with trends spreading across platforms like TikTok and YouTube faster and more widely than ever.
The Bottom Line
Gen Z’s massive size, digital fluency, and unique preferences are poised to reshape global markets. Whether you’re an investor, business owner, educator, or policymaker, understanding what’s ahead is critical. Those who adapt to Gen Z’s mindset now will be best positioned to thrive in the economy of tomorrow.
