The battle of the generations is heating up this holiday season. Gen Z is on track to outshine all previous generations when it comes to generosity. 

In what may be a shock to some, a survey has revealed that Gen Z spends the most on Christmas presents than all other generations.

Of all the ages surveyed on how much they plan to spend, Gen Z has said they will spend the most compared to previous years to make their loved ones happy.

Christmas Gift Spending By Age

According to an online poll of over 2,000 people across America, Gen Z beat all other generations with 48 percent saying they will spend more on gifts this year. In comparison, the least generous generation is the Baby boomers, of whom only 15 percent plan to spend more. 

Millennials follow closely behind Gen Z, with 39 percent planning to spend more on gifts for 2023. 

Source: //www.statista.com/statistics/1422672/expenditure-holiday-gifts-us-generation/ Online survey of 2,019 adults in 2023

What makes Gen Z the most generous generation in terms of Christmas gift spending? One possible explanation is the growing influence of social media. Gen Z, being the first generation to grow up surrounded by social media, is more aware of the trends and the desire to make a lasting impression. They view gift-giving as an opportunity to showcase their generosity and creativity to their peers. 

It could also be the rise of e-commerce and online shopping. It's become easier for Gen Z to explore different gift options and find unique presents for their loved ones. The wide availability of online discounts and deals also allows them to stretch their budget and buy more gifts for the same amount of money.

Gen Z

Despite being the youngest generation — born between 1995 to 2015 — almost half of Gen Z gift givers plan to spend more on their gifts this year. Around a third of them, 33 percent, will spend about the same. A small percentage (19 percent) will spend less than a typical year. 

Millennials

The generation born before Gen Z (1980-1994), millennials are pretty evenly split when it comes to spending. But they seem to fall more on the generous side, with 39 percent planning to spend more on gifts this year. A total of 36 percent will spend about the same as last year, and only 25 percent will spend less.

Gen X

Most of Gen X, born between 1965 to 1980, are not feeling especially flush this year. They will mostly spend about the same as last year (47 percent). Approximately 32 percent plan to spend less. A minority of them, 21 percent, will spend more on Christmas gifts than last year.

Baby Boomers

Baby boomers also don’t top the list in generosity. The majority of the boomer generation (56 percent) will spend about the same as they did last year. Similar to Gen X, around a third, 29 percent, will actually spend less. Only 15 percent of boomers will spend more this year than they typically do on gifts. Baby boomers are those who were born between 1946-1964.

As Christmas approaches, it will be interesting to see if this trend continues and if other generations will catch up to Gen Z's generosity. Regardless, the spirit of giving and spreading joy remains at the heart of the holiday season.