The Shopify President, Harley Finkelstein, reveals which generation is projected to spend the most this Christmas.Source: Reuters
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00:00 We did a survey with Gallup a couple weeks ago where we asked US consumers what they
00:06 plan to spend this year relative to previous years, and two out of three said they plan
00:13 to spend as much or more this year than they did last year.
00:16 Gen Z will be the biggest spenders this holiday season.
00:18 I don't think that's that surprising.
00:20 How they're spending, though, is also going to be really interesting.
00:23 We talked about social commerce recently, you and I, and right now a vast majority of
00:28 us spend our time on social media.
00:30 Let's just use Instagram as an example.
00:32 Most of us are using social media right now as a discovery tool, not necessarily as a
00:35 transaction tool.
00:36 That's changing.
00:38 The reason that we were shop-wise partnered with companies like TikTok and Snap and Pinterest
00:42 and BiblePens and YouTube Live Shopping, but also Instagram Commerce, is that Gen Z wants
00:47 to actually complete the purchase right there, and so that's what we're trying to empower.