Digital Commons at Loyola Marymount University and Loyola Law School
Abstract
In an age when marketers are spending five times more to reach Millennials than all other demographics combined (Swant 2015), Generation Z, Millennials’ entrepreneurial and diverse younger siblings born from the mid-1990’s to 2010’s, are quietly becoming one of the of the most powerful consumer segments in the U.S. and around the world. Despite the fact that most brands are still clamoring for their piece of the Millennial pie, Generation Z is already influencing a staggering $829 billion in household spending in the U.S. alone (IBM 2017). Diverse, ambitious and predicted to account for 40% of the population in key current and emerging luxury markets (Europe, the U.S. and BRIC countries) by 2020, they are heralding a new age of luxury consumption
