Millennials and Generation Z: A Generational Cohort Analysis of Indian Consumers

Millennials and Generation Z: A Generational Cohort Analysis of Indian Consumers

Siddhi Gupta, Srijan Agrawal, Vaibhav Tiwari, Shivanshu

Student, Department of Commerce and Management, United University, Prayagraj,Uttar Pradesh, India

ABSTRACT

The study aims to analyze the differences in consumer decision-making between Indian Millennials and Generation Z, as these groups are critical for businesses worldwide. While existing research often considers both as a single segment, this work distinguishes their behaviors to provide deeper insights. Using the Generational Cohort Theory (GCT) as a framework, the study adapts psychographic questionnaire items from prior research to suit the Indian online shopping context. Through factor analysis of data from 56 participants, the research identifies three key consumer orientations: frugality (price sensitivity), convenience (preference for home delivery), and social desirability (status-driven choices). A test reveals that, while both generations favor online shopping, Generation Z exhibits greater enthusiasm compared to Millennials. The findings suggest that, despite shared characteristics, the two cohorts display distinct consumer behaviors. Marketers must therefore develop tailored strategies and communications to resonate with each group effectively. Notably, this study is among the first to examine generational differences in India, a diverse and complex nation, highlighting the unique consumer landscape. Unlike studies from Western contexts, these results emphasize the need for localized insights in developing countries, offering valuable contributions to understanding generational cohorts in India.

Keywords: Millennials, Generation Z, Indian Consumers, E-Commerce, India.