What are the two Ps driving Gen Z’s spending habits today?

These habits are driven by economic and lifestyle challenges.

The consuming habits of Gen Z, poised to lead spending growth across generations, can be summed up by two Ps: Physical and Practical.

According to NielsenIQ, seven out of 10 Gen Z shoppers in Singapore favour offline stores to secure the lowest prices.

NielsenIQ said Gen Z's preference for physical stores reflects not only their need for a tactile shopping experience but also their strong focus on saving money.

Gen Zs are becoming increasingly mindful of their spending, according to NielsenIQ.

Data from its report found that one in four Gen Zs have recently opted for cheaper alternatives, and nearly seven in ten are open to trying different brands to find better prices, reflecting their practical and price-sensitive approach.

Gen Z shoppers, whether in physical stores or online, show strategic habits, with 74% browsing multiple platforms to find the best deals.

Meanwhile, seven out of 10 research products, prices, and promotions are available online before purchasing.

Strategic shopping is becoming essential for Gen Zs amidst rising costs and changing lifestyles.

In Singapore, 53% are worried about food prices, and 19% focus on increasing utility bills and job security.

In terms of lifestyle challenges, 24% of GenZers in Singapore struggle with healthy eating, while 30% often choose quick and convenient meals.

"These financial and lifestyle anxieties are expected to shape Gen Z’s approach to the upcoming Black Friday shopping season, driving strategic, value-driven spending as they seek the best deal," NielsenIQ said