U.S. Gen Z & millennials

Billy Odell Tucker-Robinson Founder & Host — Banking With Billy Network • Intelligence Network • Data Science • AI Research • World News
Published: 2026-10-01T01:15:31.953Z • Permanent link

Fueled by their love for luxury and convenience, Gen Z and millennials are driving consumer goods and shopping trends that are transforming the retail landscape. Take, for instance, the success of SSENSE, a Canadian e-commerce company that has been disrupting the fashion industry with its curated selection of high-end and streetwear brands. Founded in 2002, SSENSE has become a go-to destination for fashion-conscious consumers, particularly in the 18-24 age group. Its seamless online shopping experience, combined with its expertise in social media marketing, has enabled the company to expand its customer base and stay ahead of the competition.

According to a recent report by Statista, the average annual spending on consumer goods by Gen Z and millennials in the United States is projected to reach $1,300 by 2025, up from $900 in 2020. This trend is being driven by the increasing influence of social media on consumer behavior, with platforms such as Instagram and TikTok becoming key drivers of shopping decisions. For instance, a study by the National Retail Federation found that 70% of Gen Z consumers and 64% of millennials use social media to research products before making a purchase. As a result, companies such as Sephora and Ulta Beauty are investing heavily in social media marketing and e-commerce platforms to stay ahead of the competition.

In a bid to capitalize on this trend, luxury brands such as Gucci and Louis Vuitton are launching their own e-commerce platforms and partnering with social media influencers to promote their products. For example, in 2020, Gucci partnered with TikTok creator Charli D'Amelio to promote its latest collection, which was seen by over 100 million users. This strategic partnership helped Gucci to reach a younger audience and increase its online sales. As the retail landscape continues to evolve, it is clear that Gen Z and millennials will play a major role in shaping consumer goods and shopping trends.

Rising consumer spending among Gen Z and millennials has significant implications for companies that operate in the retail sector. For instance, a study by the Harvard Business Review found that companies that invest in social media marketing and e-commerce platforms are more likely to experience significant growth in sales. In contrast, companies that fail to adapt to changing consumer behavior risk being left behind. For example, the failure of Toys "R" Us to invest in e-commerce and social media marketing led to its bankruptcy in 2018. As a result, companies such as Amazon and Walmart are investing heavily in e-commerce and social media marketing to stay ahead of the competition.

The impact of rising consumer spending among Gen Z and millennials is also being felt in the research community. Researchers are studying the impact of social media on consumer behavior and the role of e-commerce in shaping retail trends. For example, a study by the Journal of Consumer Research found that social media influences consumers' purchasing decisions and that e-commerce platforms are becoming increasingly popular. As a result, researchers are developing new theories and models to explain the complex relationships between social media, e-commerce, and consumer behavior.

The trend towards rising consumer spending among Gen Z and millennials is part of a larger pattern of changing consumer behavior that is being driven by advances in technology and shifting social norms. For example, the rise of the gig economy and the growth of online platforms such as Uber and Airbnb have led to a shift towards more flexible and experiential forms of consumption. At the same time, the increasing awareness of social and environmental issues is driving consumers to seek out more sustainable and responsible products. As a result, companies such as Patagonia and REI are investing in sustainable manufacturing practices and supply chain management to appeal to consumers who are increasingly concerned about the environmental impact of their purchases.