GEN Z AND MILLENNIAL SHARE OF CONSUMER SPEND GROWS TO 32%, UP 8 POINTS VS. 2020, NUMERATOR REPORTS

Target Captures Twice the Share Among Gen Z Compared to U.S. Average; 44% of Gen Z Consumers Have Shopped on Social Media Platforms in the Past Month

CHICAGO, Sept. 29, 2025 (GLOBE NEWSWIRE) -- Numerator, a data and tech company serving the market research space, has released new findings through the Numerator Generations Hub, which leverages verified purchase and survey data to uncover generational differences in consumer behavior and the trends driving them. The past five years have seen large swings in spending share, with younger households driving the gains—Millennials and adult Gen Z now command 32% of spend, an 8-point increase from 2020, while Boomers+ have seen a nearly 10-point drop in the same timeframe. As the generational mix of spending power evolves, so do the expectations that shape how and where consumers engage.

Key Findings Include:

Gen X and Boomers lead the way in CPG, general merchandise, and quick-service restaurant (QSR) spending. Gen X households spent the most of any generation in the U.S., accounting for 34.1% of U.S. CPG, general merchandise, and QSR spend (Rolling 12 Months by Year Ending 6/30/2025). Boomers, the largest generation in terms of households, hold 33.7% share of total spend, and Millennials hold 26.1% share.
- Gen Z share of CPG spending has more than doubled in the past five years. In 2025, Adult Gen Z (18 years or older) share of spend was 6.1%, up from 2.6% in 2020.
Walmart, Amazon, and Costco are the top retailers based on share of spend for the total U.S., but Gen Z shops differently. While the top three retailers for Boomers, Gen X, and Millennials are Walmart, Amazon, and Costco, Target is Gen Z’s third favorite retailer, gaining twice as much Gen Z share compared to the total U.S. (6% vs. 3%). Target does not make the top 10 list for Boomers.
- Younger consumers feel less aligned to their generation. Boomers lead in generational pride, with 78% saying they personally align with their generation. Alignment drops with age, with 75% of Gen X identifying with their generation, 65% of Millennials, and 50% of Gen Z.
Nearly half of Gen Z shoppers made purchases on social media platforms in the last month. 44% of Gen Z shoppers have made purchases on social media platforms like TikTok, Instagram, Pinterest, YouTube or Facebook in the last month. They are 82% more likely than the average consumer to say social media and digital advertising influence their purchasing decisions.
Millennials are busy raising Gen Alpha and trying to meet life milestones. 48% of Millennials have children under 18 living in their homes, and they are almost twice as likely to purchase children and baby brands such as Zarbee’s, Dr. Brown’s, Zak Designs, and The Honest Company compared to the total U.S. In addition, nearly half (46%) of Millennials feel behind on traditional life milestones compared with peers, and 45% don’t yet own a home.
Gen X is moving into a new stage of life. Nearly 7 in 10 Gen X households (69%) no longer have children at home. Household size reflects this shift, with the largest share being two-person households (29%). Compared to their counterparts still raising families, Gen X households without children spend more on pet care (+15%) and less on household products (-12%), groceries (-16%), and health & beauty (-20%).
Baby Boomers are spending time and money aging in a clean and healthy manner. 80% of Boomers say that “clean living” is important, the highest of any generation. More than half (53%) review nutrition labels, 51% review product labels, 43% avoid certain ingredients (e.g., palm oil, high fructose corn syrup) and 25% avoid buying aerosol products—all at significantly higher rates than the other generations.

Data for the Numerator Generations Hub, which goes into further detail on each individual generation, is sourced from verified buyer surveys, consumer-reported demographic and psychographic attributes, and Numerator’s Total Commerce Panel of verified purchase data.

About Numerator:

Numerator is a data and tech company bringing speed and scale to market research. Numerator blends first-party data from over 1 million US households with advanced technology to provide 360-degree consumer understanding for the market research industry that has been slow to change. Headquartered in Chicago, IL, Numerator has 5,400 employees worldwide; 80 of the top 100 CPG brands’ manufacturers are Numerator clients.

Bob Richter
Numerator
212-802-8588
press@numerator.com

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