Hong Kong Gen Z Wield $6.4B Spending Power Amid High Anxiety
Trade Desk-Publicis research reveals Hong Kong's Gen Z controls $6.4B spending power but faces 39% anxiety rates. Key insights for marketers targeting Asia's stressed yet ambitious consumers.
The Trade Desk, Publicis Groupe Hong Kong, and GWI released a joint research report Tuesday examining Hong Kong's Gen Z consumers, a demographic wielding HKD 50 billion (~US$6.4 billion) in annual spending power and representing 22% of the city's population.
The "Gen Z Pulse" report surveyed 1,000 Gen Z respondents in Hong Kong, challenging the "lying flat" stereotype that characterizes younger consumers as unmotivated. The collaboration marks a significant cross-industry effort between a programmatic advertising platform, a global agency network, and a consumer insights firm to decode a complex market segment.
Research Reveals Ambitious but Anxious Consumers
The study found that 61% of Hong Kong Gen Z want to make a positive societal impact, contradicting narratives of disengagement. However, the research also uncovered significant stress levels, with 39% experiencing anxiety compared to 27% globally, a 12 percentage point gap.
"To win their hearts, marketers must connect with Gen Z at the speed of culture, staying hyper-aware that the leap from 'cool' to 'cringe' can happen in a split second," said Caterina Camerata, Strategy Director at Publicis Media Hong Kong.
Despite elevated anxiety levels, the research showed financial sophistication among respondents. Fifty-seven percent prioritize saving while maintaining their lifestyle, and 40% focus on long-term wealth building. The study also found that 36% travel every few months, with 37% influenced by vlogs and 26% by peer recommendations.
Strategic Implications Across Five Verticals
The report identifies Hong Kong Gen Z as critical consumers across five sectors: health and wellness, technology, finance, leisure, and travel. The research recommends brands move beyond price-focused messaging to create emotional connections and authentic cultural engagement.
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Separate research found that 78% of Hong Kong Gen Z aged 18 to 24 prioritize brands aligning with their values, blending pragmatism with indulgences. Across Asia Pacific, 44% of consumers made purchases via social platforms in 2023, with 41% influenced by ads, highlighting the importance of digital-first strategies for this demographic.
Partnership Context and Regional Growth
The collaboration comes as The Trade Desk expands its Asia Pacific presence, reporting 35% revenue growth in the region during 2024. The company recently partnered with HOY, Hong Kong's connected TV platform, to implement OpenPath and UID2 technologies for enhanced ad targeting capabilities.
The research partnership methodology allows the three companies to pool resources and expertise, producing what they position as more comprehensive market intelligence than single-source studies. Publicis Groupe contributes agency-side consumer insights, GWI provides global benchmarking data, and The Trade Desk offers programmatic advertising platform perspectives.
The report positions Hong Kong Gen Z as "digital dreamers" who make decisions from travel to banking through "trending vibes and conversations," requiring brands to maintain cultural awareness and authenticity. The research emphasizes that this generation seeks uplifting experiences through music, snacking, and travel while demanding fandom-driven engagement beyond single events.
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