The GenZ cohort, which has a population of over 377 million in India, will see their consumer spending shoot to $2 trillion by 2035, a significant increase from $860 billion at present on the back of a rising young workforce and direct spends.
At present, around one in every four individuals in the workforce is GenZ, a term used for individuals who were born between 1997 and 2012.
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The percentage share of GenZ in the workforce is estimated to rise to 47 per cent by 2035, data from a joint report by Boston Consulting Group (BCG) and Snapchat shows.
In 2024, the total consumption spending for Indians was pegged at $2 trillion, out of which GenZ cornered 43 per cent or about $860 billion.
By 2035, Indians would have a spending appetite worth $3.9 trillion out of which $2 trillion would be driven by GenZs.
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First Published: Oct 16 2024 | 12:10 AM IS