Find out where Gen Z spends most of its money...

Answer:

16- to 24-year-olds say they are the most likely to splurge on:

1. Electronics & Technology
2. Health & Wellness
3. Beauty & Personal Care

Questions: 

• "Planned obsolescence" is the practice of making goods that quickly become old or broken so that consumers will buy replacements (e.g. new models of cell phones every year). How does this impact spending on electronics and technology?
• How do you think Gen Z perceives health and wellness? How does it impact spending in this category?
• Are you surprised that Gen Z is more likely to spend on beauty & personal care than clothing & fashion? Why or why not?

Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom.

Behind the numbers (5WPR): 

"Electronics & technology (52%) and health & wellness (52%) continue to rank as the categories consumers are first and second most likely to spend big bucks on.

Meanwhile, travel & experiences are on the ascent. In fact, this year’s findings show a 7% increase in the number of consumers willing to splurge on travel & experiences when compared with data from 2023 (45% vs 38%), bringing up the category from fifth to third place on our list of splurge-worthy categories. Elsewhere, Beauty & Personal Care (43%) rose one slot on our list thanks to another 6% increase since last year in the number of consumers who said they tend to splurge in this category (43% vs. 37%)." 

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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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About the Author

Kathryn Dawson

Kathryn (she/her) is excited to join the NGPF team after 9 years of experience in education as a mentor, tutor, and special education teacher. She is a graduate of Cornell University with a degree in policy analysis and management and has a master's degree in education from Brooklyn College. Kathryn is looking forward to bringing her passion for accessibility and educational justice into curriculum design at NGPF. During her free time, Kathryn loves embarking on cooking projects, walking around her Seattle neighborhood with her dog, or lounging in a hammock with a book.