A Deep Dive on the Wealthiest Young People

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Last week, my colleague Claire Tassin published a report on the behaviors, attitudes, and brand preferences of consumers who make $250,000 or more annually. Today, we’re leveraging this data to explore the habits and preferences of the wealthiest Gen Zers and millennials, which are driven, in part, by their uniquely competitive mindset. 

📈🤑Younger high earners are much more status driven than their older counterparts 📈🤑

According to Morning Consult Audience data, things like “achieving a high social status,” “living a lifestyle that impresses others,” and “being part of the popular crowd” are far more important to wealthy Gen Zers and millennials than they are to wealthy Gen Xers and baby boomers.

High-earning young people also overindex on trend-following and new technology adoption relative to their older counterparts. 

▶️ Check out our full report on the behaviors, attitudes, and favorite brands of the wealthiest consumers here. 

🛍️🛒 Well-off young people are superconsumers 🛍️🛒

High-earning Gen Zers and millennials shop extremely often; approximately 1 in 3 members of each cohort report shopping via a mobile app or website at least once a day, much higher than the shares of high-earning Gen Xers and baby boomers who say the same. Rich young people are also major users of convenience services like meal and grocery delivery.

The lone consumption category where wealthy older adults outpace younger ones is travel, a trend that is undoubtedly tied to the amount of free time both groups currently have. But based on the favorite brands of well-off young consumers, it’s likely that Gen Z and millennials’ travel frequency will increase as they progress in their careers and can exert more control over their work schedules. 

▶️ To learn more about the data that powers this research, reach out to your Morning Consult contact or email [email protected]. 

😍💰 Wealthy young consumers love hotels, prestigious universities and big tech 😍💰

Relative to the general population of their generations, wealthy Gen Zers and millennials display an outsized affinity for jetsetting brands like Marriott Bonvoy, InterContinental Hotels Group and American Express Travel. They also favor high-profile colleges (Duke, UNC and NYU, among others) and advanced technologies (OpenAI).

That said, it’s not all glitz and glam for these groups. Both well-off Gen Zers and millennials are drawn to a handful of humble snack foods and diet sodas, too. 

▶️ To see the full list of brands that wealthy Gen Zers and millennials favor most, download the report. 

What Else We’re Reading

• The Case for In-Person Brand Engagement (Morning Consult)
• Navigating the Trump Era: Corporate Engagement in 2025 (Morning Consult)  
• The High-School Juniors With $70,000-a-Year Job Offers (The Wall Street Journal)
• Everyone Is Cheating Their Way Through College (New York Magazine)  
• What Do Gen Z Renters Want? Amenities, Aesthetics and Their Own Mini Universe (The Wall Street Journal)
• What (Actually) Brings Teens Joy? (The New York Times)

Upcoming

Today — Memo: Gen Z’s Approach to Healthy Eating. This analysis looks at what health-conscious food choices Gen Zers are making, as well as how and why they’re being made. 

Tomorrow — Report: How Americans Really Feel About CEOs. This report details what brands need to know about consumer perceptions of the executive class in an era of ongoing business, political and technological disruption. Once live, you can download it here.