The Economic Times

Rs 15,000 sneakers, fancy holidays, expensive iPhones: Financial advisor shares why Gen Z is spending big on luxury items

Financial advisor Prem Soni says Gen Zs spending on Rs 15,000 sneakers, expensive iPhones and foreign holidays may reflect the Lipstick Effect. He argues that with homes costing around Rs 3 crore and long-term EMIs, traditional milestones feel increasingly unreachable for young earners. Instead of saving indefinitely for property, some may choose smaller luxuries that offer immediate enjoyment. Soni asks whether Gen Z could eventually boycott buying real estate altogether.