Gen Z to be highest spending consumers by 2020

Tyrone Stewart

Girl on phoneGeneration (Gen) Z is expected to account for $143bn (£110bn)) of direct spending by 2020, which will make it the largest generation of consumers next year, according to research from Teespring. The online custom merchandise commerce platform also found that 40 per cent of creators who signed up to Teespring last year were either from Gen Z or targeting Gen Z audiences.

In order to capitalise on the spending of Gen Z, Teespring is working with creators from the age bracket to tap into the market of young shoppers. And this may even be able to be done through parents – with 73 per cent of them purchasing products that their kids have seen online and requested.

"According to our research, digital natives – Gen Z – are naturally entrepreneurially-minded and driven to succeed, with supporting data from 2018 showing an increase in searches for monetising social media and launching side hustles at home,” said Laura Ewing, head of trends at Teespring.

“We are also seeing an increased blur between entertainment and retail, which is quickly taking over e-commerce. Online retailers are looking to deliver a seamless, instant sale, which has led to the rise of shoppable content. When e-commerce and entertainment meet, audiences simultaneously become shoppers while watching videos online.”