When it came to Christmas shopping, Gen Z and Millennials spent an astounding 37.31% and 15.85% more, respectively.
This is according to Jonathan Spencer, the brand and campaign manager at OneDayOnly.co.za.
Gen Z is the demographic cohort of people born in the late 1990s and early 2000s, whereas millennials are those born between 1981 and 1996.
“This isn’t just fun to think about; it’s backed by numbers. But it’s not just how much they’re spending; it’s what they’re buying and why,” Spencer explained.
“PwC’s Holiday Outlook 2024 reveals that Millennials and Gen Z are throwing cash at Christmas with budget hikes of 15.85% and a whopping 37.41%.
Meanwhile, Gen X and Boomers are reducing their spending by 18.41% and 1.92%, respectively.
The online shopping carts of each generation:
Millennials: The Experience Collectors
Spencer said: “If a Millennial’s shopping cart could talk, it would say, ‘let’s make memories’. Forget physical gifts; they’re all about experiences, from concert tickets to spa vouchers.
“Millennials are the only generation putting significant holiday spend towards their pets because Fluffy deserves festive treats too.”
Gen Z: The Trendsetters
Said Spencer: “The most aesthetic shopping carts belong to Gen Z. They’re filling up with TikTok-famous beauty products, quirky gadgets, and eco-friendly everything.
“Self-gifting is practically a holiday tradition for this generation, with 68% planning to treat themselves. Their gifting philosophy is, ‘if it’s not trending or green, is it even worth buying’?
“No matter the generation, one thing unites us all: the joy of giving. Whether it’s a sentimental stocking stuffer or the trendiest tech, it’s the thought that counts.”
Boomers (1946–1964): The Practical Santa
Spencer explained: “Boomers have mastered the art of gifting that lasts longer than a Christmas fruitcake. Home gadgets, DIY tools, and premium kitchen appliances rule their carts.
“Their mantra is, if it does not fix, improve, or cook something, why buy it? Having grown up in times of rationing, they’re champions of functionality.
“But don’t mistake practicality for stinginess; they’re the wealthiest generation and aren’t afraid to splurge on a top-notch power tool.”
Gen X (1965–1979): The Bargain Whisperer
Spencer continued: “Gen X knows how to make it rain discounts. This generation has perfected present giving without overspending.
“They’re thoughtful shoppers, hunting for deals that scream, ‘I care, but I’m also smart with my money’.
“Quality matters, but they’re also pros at sniffing out unique finds, proving you don’t need a big budget to give a gift with soul.”
