Straddling adolescence and adulthood, Gen Z is at a turning point. The oldest members of Gen Z have already graduated college and are now in their early 20s. Considered a thrifty generation, Gen Z has posed a challenge to key general merchandise industries, which have struggled to drive dollar growth among this cohort over the past two years.
Gen Z accounts for 27 percent of the U.S. population. That means when these consumers enter the workforce, it will be especially important to tap into their increased buying power. Unlocking their full purchasing potential and winning their loyalty now requires that brands and retailers appeal to Gen Z’s desire for seamless digital experiences, purpose, and convenience.
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