Gen Z is spending more with e-Wallets in their spending habits as compared to previous generations. Several factors that might contribute to the higher spending among Gen Z:
1. Technology and gadgets: Gen Z tends to prioritize spending on technology, such as smartphones, laptops, and streaming services, which can add up over time.
2. Experiences over possessions: Many Gen Z individuals value experiences like travel, dining out, and attending events, which can lead to increased spending compared to spending on material possessions.
3. Social media influence: The influence of social media can lead to spending on fashion, beauty products, and other items that are popular or trendy among peers.
4. Education costs: With rising tuition fees and student loans, many Gen Z individuals face significant financial pressures related to education expenses.
However, it is essential to note that individual spending habits can vary widely within not only among Gen-Z but also any generation, and factors like income, location, and personal values also play a significant role in spending more with e-Wallets.
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