While many respondents cited not earning enough money as the cause for not being able to save money, another 40 percent said their income was not keeping pace with inflation and 39 percent blamed rising rent prices. However, Gen Z also has a desire to spend and has struggled to save because they’re spending more on things like shopping, travel and concerts.
There is however a cohort of Gen Z who say their spending has decreased. According to the company’s survey, 45 percent are cutting costs in dining out, groceries, experiences and travel. Perhaps unsurprisingly, the number-one sales moment for these groups was found to be the Black Friday and Cyber Monday weekend, with almost half saying they prefer to wait to purchase something in hopes that it will be on sale or discounted.
At the same time, ClearSale’s annual report, State of Consumer Attitudes on E-commerce, Fraud and CX 2021, found that during this current period of rapid disruption and digital transformation, Gen Z has accumulated high expectations for the shopping experience. Key factors include wanting good prices, security and frictionless shopping.Generation Z
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