Gen Z is gearing up to splurge this holiday season, according to a new survey from ShipStation, a software from Auctane. It found that 28% of Gen Zers plan to spend $1,000, more than any other age group.
To gather the data, the company surveyed 1,000 people this October. Overall, the findings revealed “significant differences with older generations, who appear less inclined to spend and are less influenced by political outcomes.”
It’s an interesting discovery, considering another survey covered by Audacy this summer that found nearly half of Gen Zers age 18 to 27 rely on financial assistance from their parents or family. More than half of the Gen Z participants in that study also said they don’t pay for their own housing. Another survey from this year found that both Gen Z and millennials don’t feel financially secure enough to raise children.
Older generations are mostly planning on spending $250 to $500 on non-essential items during the holidays, said a press release about the ShipStation survey. Differences in spending might be due in part to how different generations deal with shipping costs.
According to the survey results, 40% of surveyed consumers expect their packages to arrive within 3-5 business days without paying extra for shipping. Gen Z is the most impatient – 17% of that age group expects delivery within 24 hours.
They are also more willing to pay for faster shipping. Compared to 30% of baby boomers who strongly believe that retailers should never charge for shipping, just 8% of Gen Z held that view.
“Generational differences in delivery expectations are clear,” said the survey press release. “While Gen Z is more willing to pay for shipping, Baby Boomers generally demand free shipping. When it comes to returns, 43% of consumers believe retailers should not charge for return shipping – rising to 52% for Baby Boomers, compared to 30% for Gen Z.”
Gen Z survey participants were also more likely to believe that the U.S. election would impact their holiday budget. While 50% of Gen Z said it would influence their budget, just 28% of baby boomers said the same.
“Our survey also highlights the complex interplay between the presidential election and holiday spending, especially among Gen Z, who appear to feel its impact most acutely. As they gain economic strength and spending power, the forces that influence their spending decisions will be critical for businesses to understand,” said Auctane Chief Customer Officer Chris Karp.
Recent research indicates that Gen Z isn’t very willing to reveal who they voted for. Election results indicate that more Gen Z voters went for the Republican candidate than previous generations did at the same age, especially young men.
Other ShipStation survey results showed that Gen Z, is embracing social media shopping more than other generations, with 46% planning to use platforms like Instagram and TikTok for their holiday gift buying. Meanwhile, just 6% of baby boomers plan to use social media shopping platforms.
This generational divide is also reflected in the rise of recommerce, where 22% of Gen Z plan to shop on secondhand marketplaces like Poshmark and eBay, highlighting their preference for more sustainable and unique shopping experiences.