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Report: Country's youngest generation 'Gen Z' will spend Rs 168 lakh crore by 2035
Report: According to a report by Boston Consulting Group (BCG) and Snapchat's parent company Snap Inc., India's Generation Z population is more than 37.7 crores. This is the largest generation ever to live in the country.
The youngest generation of the country that is born between 1997 and 2012, Generation Z also known as Gen Z. They are playing an important role in increasing consumption through its spending. This population will spend $2 trillion (about Rs 168 lakh crore), which will further accelerate consumption which is important for the country's economy by 2035.
A report by Boston Consulting Group and Snap Inc., the parent of Snapchat said that India's Generation Z population is over 37.7 crores - the largest in the country. The collective expenditure by this group accounted for $860 billion, or about 43 percent of India's total consumption.
It explains that out of $860 billion, this population spends about $200 billion on their own. The rest of the amount, which is $660 billion, is spent by other people on shopping influenced by their recommendations or preferences. The trend in spending by the Generation Z population shows that in 2035, it will reach the level of $2 trillion.
