Gen Z: Brands chase 37.7 crore Indians for the $1.4 trillion money they may spend
Gen Z population, currently estimated at 37.7 crore, is reshaping the country’s consumer landscape. As more of them join the workforce, brands are scrambling to cater to this new, influential demographic that is expected to drive a substantial portion of India’s consumer spending. According to a joint report by Boston Consulting Group (BCG) and Snap Inc., Gen Z already influences a staggering 43% of household consumption, contributing $860 billion to the economy, of which $200 billion comes directly from their own earnings.
Also Read: India’s ‘swipe-up’ generation set to swipe right on festive deals
The report further estimates that by 2030, around 36% of India’s Gen Z will be part of the workforce, driving an impressive $730 billion in direct spending and a total of $1.4 trillion when including influenced spends. These figures make it clear why brands are working to position themselves as Gen Z favorites, as this cohort is expected to shape the future of consumer behavior in India.
As India’s Gen Z continues to grow in economic influence, brands are being forced to rethink their strategies. Personalization, affordability, and trend responsiveness have become critical in winning over this tech-savvy generation. The festive season is expected to see a further spike in their spending, offering a glimpse of the future consumer landscape in India.
Amazon, Flipkart's plans
E-commerce majors like Amazon and Flipkart are taking aggressive steps to capture the attention of this app-savvy, «swipe-up» generation. Amazon
