In short, yes. It’s no surprise that Gen Z and Millennials are spending more than ever on everything; from clothes, to cars to tech. However, these generations are different from previous generations.
Whether it be the impact of the pandemic, or the increased awareness on just how rapidly our planet is becoming endangered, their buyer behavior and purchasing power has shifted. That’s because their priorities have shifted to wanting to spend money on brands that are relatable, transparent, demonstrate authenticity and take social responsibility seriously.