Gen Z, It’s Time to Recognize Your Power in the Digital Economy

Gen Z, It’s Time to Recognize Your Power in the Digital Economy

Nov 29, 2024

This Black Friday, let’s talk about something more important than just scoring the best deals: our power as a generation. Gen Z isn’t just participating in the digital economy; we’re leading it. We’re rewriting the rules by which all businesses operate, reshaping how shopping takes place, and forcing industries to rethink all their operating strategies, or go under. Just look at J.Crew, Abercrombie, the rise of mainstream second-hand shopping.

Born between the mid-1990s and early 2010s, Gen Z is the largest and wealthiest generation in the making. By 2030, our global spending power is projected to hit a staggering $12 trillion. That’s a lot of economic influence—and it’s already reshaping the retail world right now.


How We’re Driving the Mobile Shopping Revolution

Growing up in a world where smartphones are extensions of our hands, we’ve made mobile shopping the norm. In fact, 74% of Gen Z prefers shopping via smartphones over other devices. And why wouldn’t you? It’s fast, convenient, and fits perfectly into the on-the-go, digitally connected lifestyle.

But here’s the thing: We’re not just shopping—we’re curating experiences. Platforms like TikTok and Instagram are go-to places for discovering the latest trends and 41% of us say short-form videos influence purchasing decisions. When we shop, it’s more than just buying stuff—it’s about finding products that resonate with our individual identities, who we are and what we care about.


Our Values Are Reshaping the Retail World

Gen Z, we’re not just about convenience; we’re about purpose. We hold brands accountable in ways no generation has done before. If a company isn’t sustainable, inclusive, or transparent, they’re not getting our money. And guess what? The retail industry has been taking notice.

The push for sustainability isn’t just a trend anymore. Brands are being forced to adopt ethical practices because our dollars consistently demand it.


Social Media Is The Marketplace

Shopping isn’t about walking through a mall—it’s about scrolling through a feed. Around 58% of Gen Z has purchased products they discovered on social media, with platforms like TikTok and Instagram being the center for those decisions. It makes sense, influencers, reviews, and recommendations are right there, making it easy to buy with a vision.

The lesson retailers get from this? If they’re not showing up on your favorite platforms with content that feels authentic, engaging, and attractive in its own right—think the heritage rebrand pulled off by J.Crew or the modernizing of Abercrombie and Fitch—  they’re missing out on the most powerful generation of shoppers.


This Black Friday, Own Your Power

Black Friday seems like just another shopping sales day, but it’s also a reminder of the power we wield in the digital economy. Remember how to harness it and keep it growing:

Shop Smart: Double down on brands that align with your values, like sustainability and inclusivity. Every purchase you make is a vote for the kind of world you want to see.Stay Influential: Your shopping habits don’t just reflect trends—they create them and can then elevate them into permanent cultural staples. Keep demanding more from brands and watch them adapt to meet your expectations.Be Loud About Your Values: Use your platforms to share why you choose certain brands over others. Companies are paying attention to what you post.


Gen Z, we’re not just shopping—we’re shaping the future of the economy. Black Friday is just another day to flex our power and prove why we’re the generation that’s redefining it all.