Brands are obsessed with how people shop — hyper-focused on generational spending habits and influence. In recent years, Millennials and Gen Z have taken center stage as digital-first consumers, pioneering an omnichannel landscape that stretches from brick-and-mortar to social commerce.

Research continues to reinforce the idea that each demographic has its own pattern of motivations, shaping how, what, and where they spend. Boomers have long been held in high regard for their stronghold on generational wealth, while Gen X has often been cast into the shadows. But the rise of multigenerational households is shifting that narrative.

The Rise of Gen X

Today, Gen X — many of whom are caring for aging Boomer parents while also supporting Millennial and Gen Z children returning to the roost — are stepping into the spotlight. Retailers are starting to recognize that this “sandwich generation” now holds the cards and financial leverage, with forecasts accounting for 23% of global spending by 2030 — the largest share of any generation. 

Five Generations, Five Behaviors

Each generation approaches shopping through its own lens. Boomers prioritize reliability and value, gravitating toward brands with proven track records. Gen X favors practicality and efficiency, researching extensively before committing to a purchase. Millennials chase purpose-driven brands, wellness, and frictionless convenience, while Gen Z shops through identity, immediacy, and community — often discovering products on social platforms before they ever step inside a store. And Gen Alpha, though still young, is already steering family spending by expecting products and experiences to be digital, intuitive, and fun to explore. Together, they reflect not just diverse purchasing habits but entirely different relationships to retail itself.

Yet as individualized as these behaviors appear, the lines between them are blurring. Shared households and overlapping digital habits mean that shopping patterns increasingly cross generational boundaries. Today’s motivations are shaped less by age and more by mindset. Which raises the question: are these categories still giving us the whole story?

A Blended Future

America’s demographics are shifting rapidly, and analysts predict that by 2045 the U.S. will have no single racial or ethnic majority. With a blended population on the horizon, it’s becoming clear that our long-standing generational buckets no longer make sense. If we want to understand true spending power, we need to rethink how we categorize consumers.

The Perennial Reframe

If our goal is to understand where spending power is going, it might be time to reframe the narrative altogether. Instead of segmenting people by generational labels that flatten nuance, what if we adopted the concept of the “perennial consumer” — a term coined by Gregg Katz, Director, Business Industry Solutions for Real Estate at ESRI.

Perennials remove traditional distinctions such as age, race, or gender and instead focus on mindset, behavior, and intent, a classification that transcends demographic identity and delves into drivers of commerce: why people spend, what motivates them, and what they value as they move through the world.

In a rapidly blending America, the perennial model offers a more accurate and equitable way to capture consumer reality — one rooted in psychographics, not stereotypes; human behavior, not birth years. 

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To explore the perennial framework further, readers can tune in to the recent episode of Anjee Solanki’s Retail Recorded. In the conversation, Gregg Katz expands on how psychographics, persona data, and “the science of where” are reshaping decision-making in retail and real estate, illustrating why a shift toward mindset marketing now matters more than generational labels.