Gen Z is so pessimistic about the future they’ve resorted to ‘doom spending’ through the holiday season

Young person purchasing something on their phone with their credit card (Credit: Getty Images—Su Arslanoglu)

• Gen Z has gotten so caught up in the negative news cycle that it’s affecting their spending habits. A new study shows Gen Z is spending 21% more than they did last year on holiday shopping to deal with the effects of doomscrolling.

It’s been a tumultuous end of the year across the board. Just in the past few months, there were major hurricanes, the U.S. presidential election, and the killing of a CEO. That’s led to countless hours of doomscrolling on social media—particularly for millennials and Gen Zers.