Study: Gen Z influences parents' spending more than other generations
Nine in 10 parents say their children influence at least some aspect of their purchases, the National Retail Federation found in a recent survey of nearly 3,000 adults.
NRF conducted the survey this spring to explore the effects of Gen Z — consumers born 1995 or later — on household spending in the U.S. That research found that 48% of purchases specifically for the child are influenced by Gen Z members and 36% of purchases for the household are influenced by Gen Z members, according to NRF’s new Consumer View report.
Eighty-eight percent of parents said food is a category in which children either spend their own money or influence their parents’ purchases. Eighty-seven percent said the same for dining out.
More than 80% of those surveyed said they involve their children in purchases more than their own parents did, according to the 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 news release. “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.”
NRF cited three reasons that parents consult their kids: the children will be using the item (57%), the children’s opinion matters to them (57%), and parents want to teach their children how to make decisions (56%).
Parents surveyed said children influence which brands they consider (52%), which product features are deemed important (48%) and which retailers are considered (41%).
Kids are usually most involved during the research portion of a purchase, whether looking at a product with a parent in-store (69%) or online (67%), watching commercials (60%), adding items to a wish list or shopping cart (56%), reading or watching product reviews (54%) or browsing a catalog (52%).
“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.”
