Although Gen Z is gaining traction as a shopping force, new research from NielsenIQ suggests an overemphasis on generational differences can obscure other important influences on purchasing, including value and income.
A new global report, A Tale of Two Consumers: The Polarized Mindsets Reshaping Global Consumption, developed in collaboration with World Data Lab, projects Gen Z spending will reach $12 trillion by 2030. By comparison, Gen X accounted for $15.2 trillion in spending in 2025.
At the same time, the report indicates that shopping habits across the spectrum are becoming less distinct, as consumers follow similar general patterns. Across all age groups, consumers are increasingly alternating between premium and value-seeking behaviors depending on category, occasion and need. The shift is accelerating a barbell effect, with demand concentrating in premium and value tiers as shoppers determine when to upgrade and when price takes priority.
Products positioned in the middle of the market are facing increasing pressure, NIQ maintained, as consumers gravitate toward items that either clearly justify a premium or deliver strong value at a lower price.
Income also plays a significant role, according to NIQ. Affluent consumers – those who spend an average of $90 or more a day – spent $35.9 trillion globally in 2025, surpassing the much larger core consumer group, which represents about half of the total population and spent $31.6 trillion. The spending gap between the core and affluent populations is growing. By 2030, NIQ anticipates that affluent consumers will spend $45 trillion annually worldwide, versus $36 trillion for the core cohort.
“Consumers haven’t stopped spending; they’ve become more selective,” said Ramon Melgarejo, NIQ president of E-commerce. “Age still matters, but it no longer explains the full purchase decision. Whether it’s a Gen X parent managing multiple households or a Gen Z shopper building lifelong consumption habits, both are asking the same question: Do I really need this in my basket?”
