Gen Z has built its brand on anti-capitalist rhetoric. That just shows how misunderstood they are. The transaction data tells a very different story—and it’s not about twenty-somethings’ hypocrisy.
The story that is coming into view is one of a generation with no savings cushion doing exactly what rational actors do when there’s no margin for error: cutting the expensive and uncertain (nights out, concerts, dinners) and doubling down on the cheap and reliable (a coffee, a jewelry piece, a beauty splurge that delivers guaranteed gratification at a predictable price point). The Bank of America Institute calls it the “little treat economy.” The more precise name is budget triage.
