Trade: Study: Over a quarter of national expenses are made by Generation X buyers

Generation X Romanian consumers (people born between 1965 and 1980) represent about 27% of total national expenses, the share being over the global average of 24%, according to the lastest study made by NielsenIQ, in collaboration with World Data Lab. In Romania and at world level, estimates show the Generation X representatives will significantly increase expenses in the next 5 years, especially for three main categories: Food, Alcoholic and Non-Alcoholic beverages and Beauty products. Referring to the preferences of Romanian buyers born between 1965 and 1980, over a quarter of them (28%) choose well kniwn brands as often as they can, while 40% buy only what they need, without giving too much thought to brands.   Also, 23% say they make no special efforts to buy specific brands but they prefer to support small brands (9% of respondents make conscious efforts to buy products from small producers).   According to the source, many people from Generation X have a cautious attitude on finances and spending capacities, being caught in the middle between the needs of their children and parents.   “Although only 4% say they can spend freely, compared to 11% of their global counterparts, most of them (44%) can afford buying things because they want them. About 59% choose to spoil themselves or their families by buying a premium brand product instead of a cheaper alternative – more than the global average of GenX (54%), but fewer than Romanian millenials (62%). That suggests that small upgrades are seen as relevant, necessary and accessible, and quality deserves investment,” a study shows.   As for the way of buying certain products, 32% of people interviewed mentioned they allow “intelligent”devices to automatically order new products when needed, while a similar number regularly use a wearable device which monitors and learns behaviour. Moreover, 36% of respondents accept product recommendations from their own AI assistant, 39% use AI to automize and accelerate daily purchase decisions, and 59% use devices and applications to manage their health needs.   NielsenIQ (NIQ) is a world market research leader, carrying out its activity in over 90 countries, covering about 85% of world population and a consumption of over 7,200 billion dollars.   World Data Lab (WDL) sets up priority data oriented to the future and to manage and foresee consumer tendencies, expenses, demographic changes and progress to Sustainable Development Goals by the year 2034.