A review on the sustainable purchase behavior of Gen Z with the changing source of spending power

Abstract

Sustainable consumption and production are a major concern all over the world in this environmentally and climatologically crucial phase of planet earth. In last few years, several studies tried to understand the changing global scenarios and identify remedies through a sustainable way. To understand the future consumption trends of the future generations and to derive right policies for a sustainable future, extensive study on this Generation Z (Gen Z) population is needed, as being the upcoming global consumers, Gen Z are dominantly taking their place in the global market. The present study attempted to understand the nature of sustainable consumption among Gen Z population all over the world. The review showcased that, in general, Gen Z population are aware about environmental concerns. However, there remains a gap between consumer’s green attitude and their sustainable consumption. The present study also reviews the actual spending pattern of global youth and attempted to draw insights on the various avenues Gen Z are spending their money and the sources of their earning. The review found out that very less research attempted to understand the influence of income level/spending power on the sustainable purchase behavior of Gen Z population, majorly from developing countries. Therefore, the present review addresses a significant research gap in the context of sustainable purchase behavior development among Gen Z consumers.