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Gen Z influencing household spend, reveals NRF report

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November 12, 2019

Today's Generation Z (those born in 1995 or after) is having a greater impact and influence on household spending, according to the National Retail Federation's Consumer View report.

"We're seeing a shift in the way families shop where children are much more involved with purchasing decisions," NRF Vice President for Research Development and Industry Analysis Mark Mathews said in a press release on the findings. "This year during back-to-school shopping, teens and pre-teens were heavily involved with purchasing decisions and contributed significantly more of their own funds compared with a decade ago."  

A good majority of parents, 87%, state children influence at least some aspect of their purchases, either for household items or for themselves. Gen Z is also most likely to spend their own money on entertainment purchases such as apps, books/music and toys/games, according to the release.

The report also found Gen Z-ers influence different aspects of shopping, including the specific brands parents consider (52 percent), product features that are important (48 percent), and specific retailers that are considered (41 percent).

"Shopping is a great way for parents to bond with their children, and parents want retailers to make it even easier to involve their children," Mathews said in the release. "As the industry continues to evolve, retailers have a huge opportunity to expand all-inclusive family shopping."