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Find out where Gen Z spends most of its money…
Answer:
Questions:
- In which of the following categories do you spend your own money?
- Are you surprised by the top 3 results in this study? Why or why not?
- How do you think COVID-19 has impacted Gen Z spending habits? Do you think this will be a temporary or lasting change?
Behind the numbers (5WPR):
“When they do decide to splash the cash, Gen Z prioritizes electronics and technology (52%), followed by health and wellness (37%), and beauty, cosmetics & personal care (36%). They’re still taking pride in their appearance even in an era of lockdown lifestyles and homeworking.
Gen Z has proven to be less interested in fitness, home goods & furniture, health & wellness, and travel & experiences, preferring to save in these categories. A possible hypothesis for this consensus is that younger consumers see these items as an expensive outlay or investment. In order for these categories to attract a younger audience, a new sales model or brand approach may be required to attract them.”
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Need more budgeting activities? Check out NGPF’s Budgeting unit page which is full of ideas to engage your students!
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Want to attend NGPF Professional Developments and earn Academy Credits on your own time? Check out NGPF On-Demand modules!
About
the Author
Mason Butts
After graduating from UCLA with a Master’s in Education, Mason spent 5 years as a science educator in a South Los Angeles public high school. He is committed to supporting the holistic growth of all students and empowering them to live a life of relational, academic, and financial success. Now settled in the Bay Area, Mason enjoys facilitating professional developments and partnering with educators as they prepare students for a bright financial future. When Mason is not building curriculum or planning a training, he can be found cycling, trying new foods, and exploring the outdoors.
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