Accenture: The needs of two generations of consumers are diverging—young people seek stability, while the elderly emphasize value

Caixin.com Against the backdrop of weak consumer confidence in the current era, Generation Z (people born between 1995 and 2009) and the silver-haired generation (usually referring to seniors aged 60 and above) have become two of the most closely watched groups in the consumer market. The former is believed to hold enormous consumer potential and is regarded as a new generation of consumers that needs focused cultivation; while the latter is seen as “having money and leisure,” and its consumer needs have not yet been fully uncovered and developed.

However, these two consumer groups show strikingly opposite characteristics—Generation Z pursues stability, with consumer habits leaning toward conservatism; while the silver-haired generation is more energetic and, when spending, places greater emphasis on self-improvement.

On May 21, consulting firm Accenture, in sharing its research on Chinese consumers with media outlets such as Caixin, said that amid intensifying external environmental uncertainty, Generation Z is increasingly pursuing “certainty” in their consumption, making decisions more rational and pragmatic.