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gen z product discovery BI Intelligence

Against a backdrop of favorable economic conditions in the US, including wage growth, a low unemployment rate, and high consumer confidence, the 2018 holiday season is set for strong spending. In fact, the vast majority of consumers, 84%, say they intend to spend the same or more than they did last holiday season, according to a report from PWC.

On average, consumers plan to spend $346 on themselves, $706 on family, and $110 on friends. In total, they plan to spend $1,250 each, representing a 5% increase compared with the 2017 season.

Gen Zers represent an especially important target audience for retailers this holiday season. Gen Z is defined as consumers between the ages of 17 and 22, according to PWC, and over 40% of this demographic plans to spend more during the 2018 holiday season than they did in 2017. That’s a larger portion than the third of consumers overall who intend to do so. In order to draw on these consumers, many…