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Charleston, SC November 26, 2024
Ecommerce marketing company Omnisend surveyed 1,000 US adults about their holiday shopping plans and found that 60.4% of Gen Z are buying gifts for themselves when holiday shopping — almost double the number for Baby Boomers (35.6%) and Gen X (36.1%).
Apart from parents (72.4%), siblings (59.3%), spouses (44.8%), and friends (40.7%), fifth on the Gen Z gifting list this year are pets, with 23.4% planning to surprise their furry friends.
“Gen Z’s tendency to buy gifts for themselves is part of the broader “little treats” trend we’ve seen emerge on social media, where consumers regularly buy themselves treats such as fancy coffee or skincare products,” says Greg Zakowicz, senior ecommerce expert at Omnisend.
“In general, we’ve seen a deeper shift in consumer values toward self-care and personal fulfillment, and the holiday season isn’t an exception. Retailers have a great chance to cash in on this by offering ‘buy one, get one free’ deals, or even entire collections under a ‘Treat Yourself’ theme.”
Omnisend’s survey also revealed that Gen Z is the only generation in which the majority are planning to spend more on gifts than they did last year (53.6%). For Gen X (23.4%), and especially Baby Boomers (13.1%), their budgets are mostly shrinking or staying the same.
Gen Z’s spending habits extend to group gift exchanges like Secret Santa, where 50% admit to exceeding the set budget — more than twice the rate of Gen X and Baby Boomers. The majority of Gen Z respondents (50.9%) say they overspend to ensure they give the best gift in the group, while another 35.6% feel the budget isn’t sufficient for a nice enough gift.
“Even though our survey has shown that Gen Z still has the lowest overall gifting budget out of the cohort, 42.7% of Gen Z respondents say they’ve increased their budgets by at least 20% from last year,” says Omnisend’s Greg Zakowicz.
“Quickly, they are becoming an economic powerhouse that would be unwise to ignore. In fact, they are on track to surpass baby boomers in the workforce this year and are estimated to carry close to $400B of spending power in the US alone.”
As Gen Z becomes a dominant force in the consumer market, understanding their unique preferences and behaviors is crucial for brands looking to capture their attention. Below, Greg Zakowicz lists some pointers to tap into Gen Z consumers:
The survey was commissioned by Omnisend and conducted by Cint in November 2024. A total of 4,000 respondents were surveyed across 4 countries – US, UK, Canada, Australia. Quotas were placed on age, gender, and place of residence to achieve a nationally representative sample among users. The margin of error is +/-3 percent.
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