Decline in In-store and online purchases with the rise in cost-of-living

Delivery and fulfillment > instore experience

Social Media influencers have power over consumer decision-making

6 in 10 consumers concerned about their financial situation

Beverage industry shifts toward functional health benefits and plant based options.

For the immersive customer experience, mixologists are trying with indigenous ingredients and regional flavours.

Healthier, Eco- Friendly and plant based prefernces are the current preferences after the transformation.

Traditional Fizzy drinks are at postern.

In 2024, Consumer preference would be for green beverages and flavoured sparkling water.

Bubble tea is the favourite among Gen Z.

People started opting for low sugar, organic soya milk, green tea, or fruity mixes.

There is a shift towards beverages with reduced or zero alcohol content.

Younger Americans are trying to drink less and the consumption pattern is highly reduced.

61% of Gen z and 49% of millennials are trying to drink less in 2024. Gen Z percentage to cut down alcohol had grown from 53% of the previous year.

Gen Zers are prioritizing mental health over alcohol. 36% of Gen Z are going alcohol free for their mental health.

Top drinks Americans wants to explore in 2024 are #1 Mocktails, #2 THC & CBD Infused Drinks, #3 Non- Alcoholic beer, # 4 Non- Alcoholic spirit & # 5 Non- Alcoholic Wine.

People prefers the above for their interest to explore its taste, intention to drink something in place of alcohol.

The top three reasons Americans are drinking less in 2024 are to:

1. Improve physical health

2. Save money

3. Make a lifestyle change 

Drinking statistics of 2023- Gen Z had an average of 3 alcoholic drinks , millennials - 5 , Gen X - 4 , Baby Boomers- 5 alcoholic drinks per week in 2023.

24% of Americans did not drink alcohol in 2023.

There is a shift towards Sober Lifestyle as well as mindlful drinking.

The decision-makers in the family are increasingly generation Y and Z.

59% of vehicle buyers in India concerned about vehicle emissions, pollution level, climate change.

EV is preferred for seamless and urban mobility.

Everything moving towards digital be it

Seamless customer experience across all touchpoints is in demand.

Roadside Assistance a priority increasing. $25 billion, and is projected to reach $40 billion by 2033. 

2024 BevAl trends includes convenience, wellness, and sustainability trends.

Consumers prefer friction free retail, focusing over Sustainability and authenticity, wellness and functional beverages, Quick serve restuarants and neighbourhood bars.

Baby Boomers who accounts for 36% alcohol buying households are most of them reached their retirement stage and due to which there might be a drop in their spending patterns down the years.

Price, quality and performance driving factors.

67% Gen Z and millennials in India prefer- Vehicle subscriptions.

Consumers rebounding to Gas/diesel vehicle.

Cars emerging as symbols of prestige and personal style for Gen Z.
Quality > Price across all Generations

Gen Zs care about social responsibility and technology.

1/10 Gen Z willing to get EV

The drive towards natural prodcuts have accelerated after the Covid-19 Pandemic.

Despite the health trend, Boomers consume more alcoholic beverages. Classic and familiar flavours are also preferred apart from the above.

Gen X are willing to pay more for getting the Premium experience and have great affinity towards brands.

Millennials are driven by flavour and price. Craft beer became very popular among them contrasting to baby boomers and Gen Z.

Generation Z shares an interest in health-oriented beverages, with a renewed interest in natural flavourings as well as plant-based, low sugar and low-fat alternatives. For the majority of those Gen Z’ers who do drink alcohol, premiumisation rules supreme.

Brand loyal- 70%

Implementing referral, loyalty, and customer retention programs is highly attractive for Gen X.

Gen-Z's interior design preferences are heavily influenced by social media aesthetics, with platforms like Pinterest and Instagram shaping their early adoption of interior aesthetics.

66% of Gen X use various digital tools, such as price calculators and vehicle configurators, to help with their purchasing decisions.

They are also neither reluctant nor enthusiastic about the EV.

They prefer (Family freindly) spacious vehicles.

Gen X is also willing to switch to digital purchases.

Millennials lean towards minimalism and functionality in their interior design choices, favoring clean, organized spaces with neutral colors and multifunctional furniture.

They integrate smart home technology for convenience and efficiency, while also valuing sustainability and eco-friendly materials in their decor.

Gen X is showing a lot of increase in interest in collecting cars/automobiles.

This is because they are at the peak of their career.

They have surpassed baby boomers and also Gen Z, and millennials combined.

Gen Z are most likely to pay cash to own a car. They have an aversion towards credits.

Whereas millennials and Gen X take the credit financing route even though Gen X has more purchasing power

Gen-Xers move towards a homestyle trend that caters to their busy lifestyles, with a preference for eclectic and bold design styles reminiscent of their upbringing in the 70s and 80s.

Gen X is more into owning a luxury car with their big savings. They prefer Porsche. They also select the car immediately without much dilemma.

Whereas Millennials prefer Tesla. But most of them want to spend their money on restaurants, clothing, groceries, hobbies, gas, and electronics.

Alcohol is less appealing to Gen Z consumers.

For Gen Z consumers, drinking is about socializing

Gen Z consumers also seek out go-to brands that promise added wellness benefits such as a boost of energy and nutritional value or one that helps them connect with others.

More interested in the experiential and social benefits and are more likely to connect with brands through social media.

Baby boomers waste less food, water, and energy and avoid plastic bags to reduce waste. Additionally, 49% are foregoing air travel for the environment. They are relativey more brand conscious.

Gen X considers the environmental impact of products and prefers brands that communicate their sustainability goals. Quality is a significant factor, and they may be willing to pay more for products that meet their needs.

Gen Y values flexibility and self-actualisation. Diversity and inclusion are essential values, and they often support social justice causes.

Gen Z is concerned about environmental issues like climate change and pollution. They prefer environmentally friendly packaging with minimalist designs, and tend to support brands that are committed to sustainability.

Younger generations such as Gen Z and millennials are more likely to feel ashamed about living in a way that is not environmentally friendly.

Food packaging is one of the priorities for these cohorts, with tinned soup being consumed less given that three-quarters of millennials prefer their soup in cartons because it can be more easily recycled. 

Organic food is increasingly popular amongst millennials, as 52% of organic consumer are of this cohort.

ESG is environmental, social, and governance and important to Gen Z because they are increasingly working to tackle environmental, social, and economic issues. Prefers Higher ESG performers.

Approximately two-thirds of millennial and Gen Z investors said they were very concerned about environmental and social issues like carbon emissions and income inequality.

Investor in their twenties or thirties was willing to lose between 6% and 10% of their investments to see companies improve their environmental practices,

The average Baby Boomer was unwilling to lose anything and 58 years old and older said they were only somewhat or not at all concerned.

Baby Boomers have less favorable attitudes towards sustainability and place lower importance on sustainability when making purchase decisions compared to the younger generations.

Millennials are more like other generations when it comes to sustainability attitudes, intentions, and behaviors related to food consumptions.

Environmental Movements were Initiated by Baby Boomers.

Gen X’s- exhibit more trust in technology and foster sustainable innovations such as renewable energy and smart appliances.

Gen X visualizes and adopts sustainable projects at individual and organizational levels.

Millennial will be willing to pay extra to support a company sharing their commitment to sustainability.

Millennials- Ethical fashion,Clothing made from organic cotton, raw materials from ethical supply chains, sustainable packaging, and campaigns for animal welfare, human rights, and environmental sustainability.

Gen Z are technology driven and looks into deeply about environmental protection more than any other Cohorts

Gen Z and Millennial pet owners are more likely to see their pets as “their children” compared to other generations.

56% of the Baby Boomer pet owners consider their pets as “their beloved family members”.

Gen Z pet owners believe it strengthens their mental health by making them feel safer and gain a greater sense of responsibility.

The Millennial, Gen X, and Baby Boomer pet owners claimed they enjoy getting more exercise and improving their health with pets by their side.

Baby Boomers gets companionship especially for those living alone.

44% Gen Zers and 33% of Millennial pet owners consider purchasing pet-tech products for entertaining their pets or keeping their wellness in check.

Gen Z pet owners are more likely to be active followers of “Charity/pet adoption” and “Inspiring animal rescue stories” content than the other cohorts.

K-Beauty played a major role in the skin care and beauty industry.

Prioritize maintaining a youthful appearance

Open to medical interventions for age prevention

Prefer specialty stores for beauty shopping

Active on social media platforms

Balance loyalty and experimentation with brands

Overlap in beauty concerns with Millennials

Desire affordable yet innovative skincare

Less influenced by traditional beauty magazines

Value personal expression in beauty choices

Celebrate individuality and diversity in beauty

Millennials seek tailored skincare solutions for their individual skin concerns.

Prioritizing sunscreen and protective measures to prevent premature aging and damage.

Researching and preferring natural, non-toxic ingredients in skincare products.

Favoring brands that are transparent about ingredients and production processes.

Focus on scalp health for improved hair quality.

Subtle contouring pre-foundation for natural definition.

Opting for cooler tones like gunmetal for eye makeup.

Millennials prioritize clear, eco-friendly skincare products with transparent manufacturing processes.

Opting for botulinum toxin injections to delay signs of aging and maintain a youthful appearance.

Embracing affordable laser hair removal for a smooth, Instagram-ready look.

Choosing minimally invasive microneedling to stimulate collagen and address skin concerns.

Seeking natural enhancements with hyaluronic acid fillers for facial contouring and rejuvenation.

All three generations allocate significant budgets for beauty products, with robust monthly spending both online and in-store.

Gen X, Millennials, and Gen Z are all willing to try new beauty products alongside their staple items, showing a readiness for experimentation.

Specialty beauty retailer websites, brand websites, and Amazon are popular platforms for researching and purchasing beauty products across all generations.

Customer ratings and reviews significantly influence purchase decisions for all three generations, emphasizing the importance of peer recommendations.

Gen X, Millennials, and Gen Z heavily rely on UGC, including ratings, reviews, photos, and videos, to inform their beauty purchases, demonstrating the power of social proof.

All generations prioritize values-aligned brands, such as those offering "clean" beauty products, vegan options, and supporting diversity and inclusivity.

Gen Z exhibits a strong preference for online beauty shopping over traditional retail, with a significant portion engaging in e-commerce globally.

Gen Z, known for their extensive use of platforms like TikTok, is highly influenced by online advertisements and influencer marketing, whereas Millennials also heavily rely on social media for beauty trends.

TikTok emerges as a leading platform for beauty purchases among Gen Z, with many seeking inspiration and making purchases through the app's live shopping feature.

While all three generations invest significantly in self-care and beauty products, Gen Z's monthly online expenditure falls in the range of $51 to $100, indicating a moderate but consistent investment.

Gen X fashion trends are influenced by the music, movies, and television of their youth.

They prefer classic, timeless pieces with a modern touch and tend to invest in quality apparel.

Leather jackets, classic denim, chunky sneakers, plaid flannels, military-inspired coats, neutrals, and basics.

Gen X was the highest spending generation in online fashion shopping in 2021, preferring quality and timeless apparel over flashy trends.

Embraced countercultural movements like punk and grunge, influenced by musicians like Debbie Harry and Kurt Cobain.

Fashion trends featured ripped denim, plaid shirts, combat boots, oversized sweaters, and iconic brands like Gap, Levi’s, and Calvin Klein gained prominence, reflecting a spirit of experimentation, rebellion, and individuality.

Millennials embrace bold colors and statement pieces that express their individuality.

They take risks with fashion, love standing out, and are known for their confidence in embracing trends.

Bold prints, fluorescent colors, graphic prints, bright colors, comfortable fabrics, and personality-packed accessories.

Millennials are socially conscious and environmentally aware, advocating for causes through social media while enjoying a wide range of fashion choices.

Gen Y, influenced by pop culture icons like Britney Spears and 'NSYNC, embraced trends such as baggy denim, crop tops, platform shoes, and frosted lip gloss.

With the rise of the internet and social media, Gen Y experienced rapid trend dissemination, leading to a tech-savvy, trend-driven fashion culture. Additionally, they displayed an increased focus on sustainability and ethical production in fashion.

Gen Zers are trendsetters who love expressing themselves through their style.

They mix and match, embracing trendy pieces and creating their own fashion statements.

Oversized hoodies, joggers, athleisure sets, crop tops, high-waisted jeans, trendy mix-and-match outfits.

Influenced heavily by social media, Gen Zers seek self-expression through their fashion choices and are highly adaptive to changing trends.

Gen Z is characterized by individualism, diversity, and authenticity, shaping their fashion choices.

They embrace sustainable practices and upcycling, driven by social media platforms like TikTok and Instagram, reshaping industry norms.

All three generations exhibit varying degrees of resilience in apparel spending, despite economic uncertainties.

They rely on user-generated content, such as ratings, reviews, and photos, to inform their purchasing decisions.

Apparel returns are common among all generations, highlighting the need for improved sizing accuracy and product descriptions.

There is a growing interest in sustainability across the board, with preferences for sustainably made and vegan options.

Each generation has its unique preferences and priorities; Gen Y prioritizes fashionable items, while Gen Z focuses on finding bargains and investing in quality products.

Internet research and social media reviews play significant roles in guiding purchasing decisions for all three generations.

While online shopping is preferred, physical stores still hold relevance, particularly for high-ticket clothing purchases.

Loyalty programs are increasingly influential, especially for Gen Z when booking trips or vacations.

Comfort with AI technology is notable across all generations, with a willingness to use it for tasks like price comparison.

Sports fandom influences apparel choices, particularly among Gen Z, who are increasingly engaged in sports leagues and events.

Transparency and fact-checking in media sources related to global news and social activism are valued by all generations, impacting their purchasing decisions.

Millennials and Gen Z are spending more on this sector than older generations.

Bio Monitoring and wearables on rise.

Personalization’s gen AI boost- like customized workouts and wellness products.

A shift toward preventive medicine, the growth of health technology (such as telemedicine and digital-health monitoring), and advances in research on antiaging products.

People preferring DTC brands offering

Moving towards Personalized wellness experiences

Consumers want detailed product information.

Consumers prioritize health despite cost challenges.

Trust and expertise take center stage

Social media drives research and action—on and off platform

Despite being conservative with their money, Gen Z is willing to pay a premium for wellness products and healthy foods.

72% of Gen Zers say managing stress and mental health is their most important health and wellness concern.

They do not trust a brand easily.

87% of Gen Z reported exercising three or more times per week.

Millennials and Gen Z – dubbed ‘Generation Active’ – now represent 80% of all gymgoers

85% of all gym members also now do workouts at home, highlighting the need for digital solutions

Generation Active accounts for 89% of total users of online or app-based workouts

Wellbeing is cited as a top priority for Gen Z employees, with 83 per cent saying it’s on a par with salary.

77 per cent of Gen Z employees would consider quitting if their company didn’t focus on employee wellbeing.

‘quiet quitting’ and the ‘Great Resignation’ are because of them prioritizing wellbeing.

35%of millennials believe they will prioritize health more in the coming years, compared with 29 percent for other generations, on average.

Personalization of products and services continues to gain importance among m.

The importance of influencers and celebrities for product discovery continues to rise, particularly for millennials.

General point- Wellness-related employee benefits are becoming more mainstream

More than 40% use treatments like herbal medicines, nature therapy, or traditional medicine.

Health & Wellbeing is their top importance.

According to the Organic Goods Trade Association, 52% of their customers are Gen Y, and the vegetable shopping rate is even higher than that of any other generation.

78.6% of Gen Xers believe exercise is important for mental health.  

Walking ranked second (29.8%) as a favorite hobby. It is also their preferred form of exercise by a significant margin (72.8%) followed by weightlifting (23.7%), running, and bicycling.

Gen X consumers are placing a strong emphasis on overall wellness, encompassing physical, mental, and emotional well-being.

Gen X-ers spend significantly more on today’s do-gooder brands. Thus, making organic, ethically produced, and sustainable products a viable marketplace for everyone.

Gen X-ers put a premium on quality or value for their money.

https://medium.com/@PrimalStreamMedia/as-generation-x-ages-a-plea-for-self-care-f7861426049a

Generative AI is soaring. Businesses are trying to include it every field/ way possible.

Data security on huge risk.

Digital devices are not just communication tools, they are our personal assistants, health monitors and entertainment hubs.

The usage of smart wearables, and smartphones for health checks like counting steps, etc is on the rapid rise among consumers.

Nearly 85% of the consumers have broadband in their homes.

1 in 3 consumers are willing to share their video streaming platforms with other people/ family.

Generative AI usage is on the rise, especially among students.

1 in 3 consumers have used Gen AI for their work.

Still there is not much trust regarding the data it provides.

Data privacy is a huge problem among consumers.

Gen Z's(45%) are mostly likely to share their data, whereas millennials and Gen Y are less likely (36% - 28% resp)

Consumers take into consideration the carbon footprint of their devices while purchasing( sustainability)

Consumer interest in home robots is on the rise - vacuum cleaners.

Consumers show a lot of interest in AR/VR hardware products.

Rise in consumer demand for health tech products. To monitor health at

the convenience of their homes.

The global health wearables market rapidly increasing.

Sustainability is an important factor of consideration for consumers in tech as well. As this industry produces a lot of hazardous waste.

Gen Z eating habits are sligntly different from Millennials.

Convenience is a factor when coming to Gen Z food categories.

Gen Z is likely to stick to eating patterns that omit certain foods, such as sugary or highly processed items.

They trust organic content more than paid advertisements and value authenticity.- media preference

Gen Z and Millineals primarily focus on Physical Fitness whereas Gen Z associates "health" with overall wellness, including mental health and nutrition.

They actively seek out restaurants that prioritize sustainability, environmental impact, and utilize locally sourced ingredients.

Plant-based alternatives for animal products and meat are popular with Gen Z. In fact, 19% of Gen Z reported that they embrace plant-based eating habits.

Online ordering is popular and highly trusted by Gen Z.

They prefer authentic global cusine. Authentic is not mearly the food here. It covers the atmosphere and the aesthetic works which gives the 'authentic' experience.

Digitalization increments due to the middle-aged and elderly population.

They undoubtedly will start using Fintech which leads to increase in demand for education-related such platforms.

94 million and 62 million from middle-aged and elderly age groups are forecasted to become internet users by 2025.

Gen X top preference were snackings like chips and bars followed by general foods, tea & coffee and alcoholic beverages in 2022.

They are seeking unique flavor profiles and experiences, valuing quality over mass-produced beverages.”

generational eating habits and dining preferences.

• Traditionalists (Born before 1946) – take pleasure in keeping their eating and dining habits classic, preferring recipes passed down through generations. A familial connection makes mealtimes even more special.

• Baby Boomers (Born 1946-1964) – strive for a nutritionally balanced lifestyle while also being eager to explore the ever-expanding array of dining options.

• Generation X (Born 1965-1980) – prefers simplicity when it comes to eating and dining, opting for a relaxed atmosphere rather than an over-the-top luxury. Prefer a speedy and convenient meal.

• Millennials (Born 1981-1996)  – emphasize sustainability packaging; 94% of millennials likes to-go with foods if there were improved packaging to maintain food temperatures, taste, and quality. Another dining preference millennials have is fast casual dining.

• Generation Z (1997-2012) – is into anything and everything “virtual”; 69% reporting they would likely order through voice-enabled platforms like Amazon Alexa or iPhone’s Siri. They are also driven by Physical and mental health conscious eating.

D2C Video Streaming

AR and VR - Snapchat’s AR filters are a popular example of AR in social media.

eSports Broadcasting : Gaming content services will also provide a space for recent augmented reality and virtual reality tech solutions.

Music Streaming Services

Content Personalization - Spotify’s use of AI for music recommendations is a prime example of content personalization

OTT Content Advertisements

Generation Y prefers green restaurants, healthy menus and quality foods.

Generation Yers spend a greater proportion of their income on prepared foods and cook at home from scratch less frequently than earlier cohort.

They have a great ethinic diversity attitude and tends to explore food across borders.

Fun Fact- Gen Yers prefers bowls over plates.

Generation Yers are also more conscious of the advantages of wholesome food, healthy eating and wellness than the previous generational cohorts.

“Takeout/delivery” options are highly preferred by Gen Y.

Fig leaf- The humble fig leaf is the surprising new must-have ingredient for chefs — the leaves are being used in everything from ice cream to curry.

Listening bars and restaurant crossovers- Increasingly, music and high-spec sound systems are being put front and centre of the dining experience.

Restaurant-to-retail- As restaurants look for additional revenue streams beyond simply serving dinner, there is more and more restaurant-branded condiments and sauces come on to the market.

Social shopping gaining traction among all age groups as new product discovery is done there.

64% Gen z, 59% millennials, 47% Gen X get to know about new products on social media.

social search is growing in popularity, especially among Gen Z, Millennials, and Gen X.

Consumers continue to fear layoffs and recession impacts.

Consumers are investing less money into virtual worlds, items, and currencies. 

69% of consumers preferred to purchase a product in-store, while 52% preferred to purchase through an online retailer selling a variety of brands.

Augmented reality (AR), virtual reality (VR), and spatial computing technologies are redefining the online shopping experience.

From virtual storefronts to virtual fitting rooms, tech is seen everywhere.

Consumers are increasingly prioritizing eco-friendly products and ethical practices.

increase of 71% in Google searches for sustainable goods over a span of the last 5 years.

Personalized AI assistance can be seen in our homes and every other space.

Digital health and wellness ecosystems are on the rise.

Omnichannel integration is critical for digital shelf success.

Social shopping is gaining traction as More than half of the world now uses social media (62.3%) with an average daily usage of 2 hours and 23 minutes.

The gamification market size is projected to grow from $18 billion in 2023 to $46.44 billion by 2027, at a compound annual growth rate (CAGR) of 25.6% during the forecast period

It has penetrated all kinds of industries from retail to ed tech.

Smart devices- Everything is connected from home appliances to phones and cars.

Rise in AI assistance for hyper-personalization.

Made in India tag- People want products to be made in India and they prefer going for local manufacturing to global.

Digital and augmented experiences are revolutionising content consumption.

Brands are leveraging AR and VR to create more engaging and interactive advertising campaigns.

A report by eMarketer predicts that 58.9 million people will use VR and 93.3 million will use AR at least once per month in the US alone.

creating immersive, engaging, and personalised experiences are the top priorities.

In e-commerce, personalisation has become a key differentiator.

73% of global consumers are willing to change their consumption habits to reduce environmental impact.

Food trends develop based on many factors, with the process best summed up as "inexact science, a blend of research, intuition, wishful thinking, and cribbed retailer data".

Plant-forward eating, plant-based proteins, and plant-based foods

Sustainability-environmental concerns drive plant-based products and produce consumption

Flavors- Extreme flavors of all kinds are booming then

Ancient grains- An ancient grain is a "grain that has been largely unchanged during the past several hundred years". Benefits include being high in protein and fiber and containing essential vitamins and minerals.

Alternative Sweeteners- Consumers looking for alternatives to traditional sugar and high fructose corn syrup. Natural sweeteners such as honey, maple syrup, and agave nectar have become staples in both restaurants and grocery stores.

Salad consumption in particular will increase among the youngest generation- Gen Zers, followed by sandwiches and breakfast foods that require some cooking.

Generation X is the only group where microwavable meals and simple breakfast foods like cold cereal are reportedly growing.

Food orders over digital channels is on the rise among generation Z and millennials

Baby boomers- Eating highly-nutritious snacks and bars with a large content of nuts, probiotic and fermented foods.

Another major boomer eating habit is a preference for functional food.

Gen Xers-They prefer traditional food, prioritising flavour over nutritional value. They enjoy classics such as pizzas and hamburgers, as well as Italian and Chinese food.

Gen Y- Millennial food and beverage trends revolve around the production sustainability of companies and the concern for the environment. They research the manufacturer’s production processes

Gen Z- Prefers Consumption of additive-free organic foods. Follows trend toward eating plant-based meat. They Prefer ^{light, short and frequent meal.}

Gen Zers and millennials said they'd rather spend money on experiences such as concerts and traveling rather than saving for retirement.

Consumers are becoming increasingly aware of the impact their purchases have on the environment, and want to support businesses that embrace sustainability and responsibility as core values, offering guilt-free consumption.

78% of respondents said their mental health is equally as important as their physical health so they are spending on their well-being.

Virtual and augmented reality are altering how people communicate with others

Consumers are increasingly seeking spaces to connect with like-minded individuals, leading to the proliferation of niche communities both online and offline where they can connect over shared interests regardless of backgrounds and geographies.

75% of Gen Zers choose mobile devices as their go-to tech.

The influencer culture deeply influences Gen Z’s shopping habits, with nearly three-quarters of this demographic following influencers on social media platforms.

50% of this age group citing influencer recommendations as a critical factor in their purchasing choices.

 They are 3X more likely to say businesses should “serve communities and society” rather than simply “make good products and services.”

Gen Z prefers visual learning over traditional text-based learning. About 40% of Gen Zers are turning to these social media giants for everything from the latest in pop culture to practical how-to guides.

The reason 61% lean more towards UGC than traditional marketing is simple – it feels authentic.

59% say they personally own a television – significantly less compared to older generations. Gen Z prefers to watch TV for long-form, high-quality content such as movies and sports. 

Gen Z is more likely than older cohorts to personally own streaming devices (52%), gaming consoles (58%), and portable gaming consoles (36%).

Smartphones (particularly Apple iOS) are the preferred device for Gen Z with 94% owning one.

Gen Z splits from Millennials as they adopt technology earlier and have a higher likelihood of sharing products within the household

Google is planning to make its search engine more visual, snackable, personal, and human for the younger gens.

https://www.battery.com/blog/2023-gen-z-snapshot/

Even Google is moving towards personalization for its consumers providing importance to visual search.

Gen Z consumers, the youngest cohort of adults, are beginning to drive attitude changes on sustainability and the environment across the broader population.

The most common diets or eating patterns in 2022 included

• clean eating (16%),

• mindful eating (14%),

• calorie-counting (13%), and

• plant-based (12%).

Millennial's lean toward healthier food options that omit large amounts of fat, cholesterol, sugar, and carbs. Instead they target organic, fresh, and frozen foods.

Millennial's values authenticity and lookimg for an up-to-date and honest digital menu online.

Gen Z prefers to eat short meals or snacks during the day. Their focus is on healthy food. (54 per cent)

Online ordering is appealing to all generations and will help your restaurants takeout and in-restaurant dining operations.

Millennials were worried of hygiene and contact with the germs. Gen Z were open to using the restaurants than millennials. The baby boomer did not cared much and they had a faith on the precaution taken by the resuarant.

Gen X did not preferred to dine out and not opted for take- aways much.

More than half of Gen Z travelers spend at least four hours per day on social media.

Gen Z tends to travel more at an earlier age, even though their budget is lower than that of other generations.

Gen Z and millennial respondents looks for unique and exciting holiday options that go beyond the typical tourist attractions.

For instance, they put more emphasis on food-centric travel, wellness and relaxation, supporting local communities and small authentic shops.

For Baby Boomers and Gen X- spending quality time with the loved ones are their top priority.

Gen X and Baby Boomers- Fully equipped kitchens, washing machines and pet-friendly options are becoming more and more in demand as travelers seek a more personalized and flexible approach.

Digitalization of the guest journey-Gen Y and Z in particular are looking for a seamless and simplified experience such as quick check-in and minimalistic interaction with staff.

Compared to older generations, a larger percentage of Millennials have bachelor’s degrees or higher. Millennial women are about four times as likely as the Silent Generation to have completed as much education at the same age.

About one-third of Millennial men have at least a bachelor’s degree, nearly double the share of Silent Generation men. The share of Millennial women with a bachelor’s degree is now higher than that of men, a reversal from previous generations.

Boomer women started working early, which encouraged more Gen X and Millennial women to do the same. Back in 1966, most Silent Generation women weren't working (58%), but today, 72% of Millennial women have jobs. By 1985, more Boomer women were working (66%) than not (28%).

Gen Z values both collaborative and individual learning experiences. They seek flexible learning spaces that cater to their needs for both peer interaction and personal learning.

In terms of learning methods, Gen Z prefers a blend of traditional classroom teaching and digital resources. They engage well with interactive and visually engaging materials.

College enrollment- STEM fields, healthcare, and business remain popular choices, but interest in emerging fields like artificial intelligence and renewable energy is rising.

75% of people who use generative AI use it for work and 70% of Gen Z uses new generative AI technologies.

68% of those who haven’t tried generative AI are Gen X

Gen X - almost 9 out of 10 non-users don’t see how generative AI will impact their life

Currently, Millennials make up around 32% of spending in the personal luxury market, but by 2025, they are projected to represent 50% of the total market, driving 130% of market growth in the next seven years.

Collaborations between luxury brands and influencers are becoming increasingly popular among Millennials- particularly handbags and sneakers.

Pairings between luxury and streetwear brands are highly desired. Millennials lead the way in purchasing these collaborations, with 60% reporting such purchases, compared to 40% of Gen-Xers and 20% of Baby Boomers.

44% of consumers consider the resale value of luxury items, with Millennials showing greater long-term thinking compared to older generations.

Gen Z and millennial shoppers are buying premium goods faster than older generations. In the last year, their luxury purchases (60% and 63% respectively) have outpaced Gen X (46%) and baby boomer (18%) shoppers.

Social media isn't just for discovery. 84% of Gen Z and 81% of millennial consumers following luxury brands have bought products they saw on social media.

Brands prioritizing greener initiatives stand out, with 67% of Gen Z and millennials factoring luxury brands’ sustainability practices into their purchase decisions.

Younger generations, like Millennials and Gen Z, are fueling rapid growth in the luxury market. According to Bain & Co., their spending is expected to increase three times faster than older generations over the next decade.

Gen Z and the even younger Generation Alpha are forecasted to comprise a third of the luxury market by 2030, showing a remarkable interest in luxury goods compared to older generations.

Gen Z consumers start buying luxury items as early as age 15, which is three to five years earlier than Millennials did

In 2022, Millennials and Gen Z together comprised 72% of the global luxury market, up from 66% in 2019 when Millennials and Generation X dominated at 66% market share, compared to Gen Z's 8%.

The luxury market seems more resilient to recessions compared to previous downturns, with luxury goods maintaining consistent purchase rates- the wealthy population continues to spend.

Technology-aided Property- hotels that provide reliable and fast WiFi and modern technology amenities such as smart keys, and receive online orders - and payments are more likely to appeal to Gen Z travellers.

Workation- gen Zers are prefering comfortable and dedicated workspaces within the hotel. Fitness centres, pools, spas, and outdoor spaces are like a cherry on top.

Flexible Timings and Cost-effective Meals- flexible meal options, cost-effective meal options that offer local cuisine or cultural trends are sought after by Gen Zers

Gen Z- Adventurous Yet Budget-Conscious- 84% would rather take a dream holiday than purchase a new luxury item. They tend to spend generously on unique experiences like street food tours, local art workshops, and adventure activities

Gen Y- Millennials are willing to spend more on immersive experiences, such as food tours, local wine tastings, and attending music festivals or cultural events. They appreciate authenticity. Sustainable and eco-friendly travel options are crucial considerations for many Millennial travellers

Gen X- Often prioritise comfort and convenience when it comes to accommodation. They like to dine at renowned restaurants.

Baby Boomers- Baby boomers are willing to spend on premium travel experiences, such as luxury cruises, all-inclusive tours, and upscale accommodation. They prefer guided tours to explore historical and cultural sites in-depth.

Gen Z- Accommodation-Sharing Platforms Practically besties with those accommodation-sharing platforms and love airbnbs.Gen Z's heart belongs to exceptional digital experiences.

Gen X- Gen X is your quiet powerhouse. They prefer calm and safe stay.

Tech dominance- From contactless check-ins and payments to the use of artificial intelligence, hotels, and other hospitality establishments are embracing technology to enhance guest experiences. We can expect installation of smart devices at stay houses.

Sustainability will be a key focus- More properties will aim to reduce their carbon footprint by using eco-friendly products and practices and implementing waste-reduction strategies.

Personalization will drive guest experiences- More hotels implement guest preference tracking, which allows them to personalize everything from room amenities to dining experiences.

Health and wellness will take center stage- It was expected to see more hotels offering yoga classes, meditation sessions, and healthy dining options.

Staycations and local tourism- More hotels and resorts offering staycation packages and promoting local tourism. This trend is not only beneficial for hotels, but it also supports local economies and encourages guests to explore their backyards.

With self-care in mind, 61% of Gen Z and Millennial travelers are prioritizing making travel plans that focus on personal wellness that provide well-being experiences.

Millennials are more likely to book accommodation at a resort.

A higher percentage of Millennials blend work trips with personal leisure plans than Gen Z. 

26% of Gen Zers want to connect with their cultural heritage when they travel. 

Sustainability is key, with over half of Gen Zers (56%) preferring to stay in green or eco-friendly accommodations. 

Incorporating gamification elements.

Additionally, to spark interest among Generation Y, it’s worth trying out gamification elements. It is a generation that has been raised on games and is eager to take on such challenges.

Generation X is willing to spend more on their trips than younger generations. They favor luxury and comfort, investing in quality accommodations, fine dining experiences, and unique activities.

Luxury travel experiences are increasingly popular with this demographic.

Focusing on providing culturally immersive travel experiences, high-end commodities, and sustainable travel options will have a significant advantage when it comes to working with Gen X individuals.

The perceived green image of a destination has the strongest impact on the intention to travel to a destination among the Gen Zers

New age of consumers- Millennials represent 32% of the luxury market now, set to rise to 50% by 2025, while Gen Z, currently at 8%, will reach 40% by 2035. These younger buyers are reshaping luxury preferences, favoring sustainability and collaborations with familiar influencers.

Millennials have shown a growing interest in collaborative products combining designer brands with trendy streetwear labels, like Louis Vuitton x Supreme and Fendi + Fila. This mix of new and classic styles appeals to younger buyers. According to Matter of Form, 67% of Gen Z and 60% of millennial purchases include a collaboration or special edition item.

With online shopping on the rise, especially due to travel restrictions, fashion houses have seen sales decline by 10-30% in early 2020. However, adjusted data from Statista predicts a 64% increase in online sales from 2018 to 2023. This growth aligns with Millennials and Gen Z becoming the main luxury goods clientele.

Gen Z and Gen Alpha are expected to increase their luxury spending three times faster than other generations. Luxury brands have expanded their product range to appeal to teenagers, offering items like sneakers and activewear at various price points.

Digital communication strategies, Gen Z shoppers are buying luxury goods three to five years earlier than millennials did.

Collaborations- The popularity of brand collaborations highlights the significance of these younger generations for luxury houses, from streetwear and sportswear collaborations like Gucci x Palace and Dior x ERL, to nostalgic releases such as Balmain x Barbie or Balmain x Pokémon

Metaverse for storytelling in retail- With sixty percent of metaverse users belonging to Gen Z, this platform offers retailers an opportunity for meaningful engagement with this demographic and the integration of online and offline identities.

Gender neutral clothes- Gen Z isn't necessarily looking for gender-neutral items, but they do reject strict gender categories in fashion. They prefer more flexible choices and often buy from both men's and women's sections.

Personalization- Technology is helping brands make custom clothes for different age groups. Before COVID, McKinsey's 2019 Fashion Report said startups were making personalized clothes for younger shoppers. Big brands like ASOS started doing the same. Personalization - most desired by Gen Z.

Millennials in India have started to spend more carefully. This change is due to two main reasons: many millennials now support their families financially, and the pandemic showed them the importance of saving money, especially with the rise of remote work.

Nobroker.com, reported that millennials accounted for 63% of all buyers on their platform, up from 49% before the COVID-19 pandemic. In Mumbai, millennials comprised 74% of all homebuyers.

Survey- Almost half of the millennials (49%) are living with their parents. Among them, 43% plan to stay for three years or more, and 12% don't plan to move out ever.

Reasons- high property values drive the decision to stay, Steep housing prices and rents, coupled with a lack of suitable jobs.

Millennials are more inclined to rent than to own homes. The survey shows that 64% of those living independently are renters. While some (29%) prefer renting, a larger group (65%) does so for financial reasons.

House hunting goes digital- 3D tour, virtual staging, etc "Searches for "virtual staging" are up 187% over the past 5 years" - Millennials highly moving towards digitalization.

Online mortgage- Online searches for "Better Mortgage", an online mortgage lender, shot up 111% over the last 5 years. 

Decline in mortgage rates- Mortgage rates were already on the decline since they reached a peak of 4.94% in 2018. At the beginning of January 2021, mortgage rates hit a record low of 2.65%. This caused a spike in mortgage applications, which reached a 10-month high in the beginning of 2021.

Zoomers not able to own an apartment -home-sharing is most popular among adult Zoomers, with nearly one-quarter of respondents currently living with friends or roommates, compared to only 7% of Millennials and 5% of Gen X who reside in a similar setup.

affordability- With the eldest Gen Xers now 56 years old, elder Millennials looking at 41 this year, and the forefront of Gen Z hitting 27 in 2022, homeownership rates among respondents from the three generations stand at 78%, 64% and 29%.

Credit score- Three years ago, they saw college debt as a major obstacle to owning a home. However, today, their focus has shifted to credit scores and worries about job stability. Only 7% now see student debt as a significant barrier to buying a home.

Millennials are seen as the future of luxury, while boomers represent its past. Gen X, on the other hand, is considered the present, offering a solution for luxury brands aiming to connect with both older and younger demographics.

Gen X often bridges the generational gap within their own homes, as they care for their boomer parents and raise millennial children. Millennials are often introduced to luxury brands through their Gen X parents.

Generation Y tends to focus more on the social aspect of luxury, paying attention to what others buy and which brands make a good impression. They also believe that not many people own true luxury products, suggesting a desire for social status through luxury consumption and seeing luxury goods as more accessible.

Generation X consumers are less concerned with the opinions of others and tend to associate luxury products with exclusivity rather than social status. They are more subtle in their luxury consumption habits

Research suggests that Gen Z trusts traditional banks more to secure their data and needs digital services to be exceptional to retain their customers.

In all, 43% of Gen Zers say physical, bricks-and-mortar bank branches are important to them because they provide “peace of mind”.

For the first generation to come of age since the creation of Bitcoin, Gen Z has a sizable risk appetite for cryptocurrencies and other virtual assets. Amongst Gen Z investors, 42% have put money into crypto, compared with 38% of millennials, 22% of Gen X and 7% of boomers,

Gen Zers embrace digital innovators, with 72% saying they use a neobank (a direct, online-only bank) app as their primary budgeting tool, according to the GCS survey.

The best of these digital-first firms provide a seamless user experience with engaging graphics and information about making transactions or choosing where to invest.

Gamified features such as leaderboards of the most popular stocks have a particular appeal to a generation weaned on so-called play-to-earn videogames and the meme stock phenomenon.

Mental health benefits are incredibly important to Generation Z, Millennials, and people with children in the household.

Similarly, cost transparency matters more to Generation Z than it does to other segments. Cost transparency also impacts trust, communication, and financial considerations in a way some other features don’t.

Gen Z's financial challenges- Thriving in an economy marked by high living costs, a competitive job market, and often, the burden of student loans. 

Easy way to pay - This card eliminates the complexities of revolving credit, interest rates, and EMI processing fees. Just pay the bill in full (if one can afford it) or convert it into EMIs for a flat monthly fee.

More than 50 per cent of borrowers showed a preference for EMI cards when it came to shopping or taking credit, followed by credit cards (25 per cent), with new-age lending platforms, including ‘Buy Now, Pay Later’ evidently losing out with less than 10 per cent in favour," said the report.

Moreover, 60 per cent of borrowers, primarily Millennials and Gen Z from Tier 1 and Tier 2 cities have shown interest in ‘embedded finance’, where e-commerce shopping can be converted to EMIs for affordable financing.