How Millennials and Gen Z approach shopping

When it comes to spending money, both Millennials and Gen Z know how to make their dollars count. They just have their own way of doing it.

While they share a love for discounts, deals and convenience, motivations and habits between the two generations differ in interesting ways. Let’s take a closer look.

Shopping styles

Though they’re close in age, Millennials (born 1981–1996) and Gen Z (born 1997–2012) come from different generational backdrops, and that shapes how they shop. Both are digital natives and mindful of their budgets, but their lifestyles influence their choices.

Millennials are typically deeper into their careers, often juggling mortgages and raising kids. Gen Z-ers might still be in school or navigating their first jobs, so their spending is influenced by a more flexible, transitional stage of life.

What they share

Always on the hunt for a bargain

Discount codes? Check. Flash sales? Yes, please. Loyalty rewards? Absolutely. Both groups are savvy shoppers who rarely pay full price unless they absolutely have to.

Digital, always

From browsing to checkout, these shoppers are doing it all online. Whether it’s mobile apps or desktop sites, convenience is king. And when they do head in-store, contactless payments are second nature.

Where they diverge

Price-conscious vs. value-driven

Millennials often lean toward trusted brands, sustainability, and items that will last longer even if it means paying a bit more. Gen Z tends to be more spontaneous and trend-focused, preferring affordable finds that are stylish now. Thrifting and DIY culture are also big with this younger crowd, making second-hand cool again (as well as saving the planet!).

The power of social media

Gen Z’s buying decisions are heavily influenced by what’s trending on TikTok, Instagram and other social sites. If it’s gone viral, it’s likely on their wish-list.

Millennials, by contrast, lean more on peer reviews and personal recommendations before making a purchase. That’s not to say they’re not influenced by online ads though initially.

Why they buy

Millennials usually shop with a clear purpose. Whether it’s upgrading the home, buying for work, or picking up things for their kids. In comparison, Gen Z tends to shop more impulsively. They’re often driven by self-expression, creativity, or shared moments with friends.

Smart spending

Spending is part of life. Everyone does it but the key is to make your spending work for you and your situation. So, how do you do that?

Take advantage of our Boss Saver account. It’s linked to your everyday bank account, so your everyday spending can help you earn a bonus interest rate. Plus, you can set-up Pay&Save on your BCU Access account and round-up your purchases giving your savings account a boost with each transaction.

Important information

Banking and Credit products issued by Police & Nurses Limited (BCU Bank).

Any advice does not take into account your objectives, financial situation or needs. Read the relevant terms and conditions, before downloading apps or acquiring any product, in considering and deciding whether it is right for you. The Target Market Determinations (TMDs) are available on our website or upon request.