Despite recent reports about improving economic conditions, only 30% of Gen Z consumers are optimistic about the economy’s direction relative to a year ago, concludes a new survey by SheerID, which provides identity verification services for business. As a result, Gen Z is shopping with increased frugality.
That’s especially true for Gen Z college students, the survey found, with just 22% stating they’re optimistic about the future of the economy while 71% plan to actively stretch their budgets and seek discounts.
“When asked how the current economy has changed their spending habits, groceries and mobile phone/wireless were the only two categories where Gen Z is spending more than they have in the past,” the report notes. “Take-out/food delivery, gaming, electronics and online news experienced the greatest pullback in spending, with 36% or more of Gen Z saying they are spending less in these categories.”
Respondents to the survey were 1761 people aged 18 to 26 (“Gen Z”) from the United States and the United Kingdom, half of whom are currently enrolled university students. The survey was fielded between March 1 and March 14, 2024.
Click here for more from the survey.
Ready to Relocate? Wilkerson Makes Your Move Seamless
When Brockhaus Jewelry decided to leave their longtime West Main Street storefront for a standalone building elsewhere in Norman, Oklahoma, owners John Brockhaus and Brad Shipman faced a familiar challenge: how to efficiently reduce inventory before the big move. Their solution? Partnering with liquidation specialists Wilkerson for a second time.
"We'd already experienced Wilkerson's professionalism during a previous sale," Shipman recalls. "But their approach to our relocation event truly impressed us. They strategically prioritized our existing pieces while tactfully introducing complementary merchandise as inventory levels decreased." The carefully orchestrated sale didn't just meet targets—it shattered them.
Asked if they'd endorse Wilkerson to industry colleagues planning similar transitions—whether relocating, retiring, or refreshing their space—both partners were emphatic in their approval. "The entire process was remarkably straightforward," Shipman notes. "Wilkerson delivered a well-structured program, paired us with a knowledgeable advisor, and managed every detail flawlessly from concept to completion."
