Gen Z's Defining Years: their true age range and what it means for the future

The Unseen Architects: How Gen Z's Emotional Currency is Remaking Our World

Alright, let’s talk about something truly fascinating, something that’s buzzing beneath the surface of our global economy, often dismissed as mere fads or fleeting trends. At the Fortune Global Forum not long ago, Bonnie Chan, the CEO of Hong Kong Exchanges and Clearing, dropped a name that might have seemed out of place in a room full of suits: Labubu. An "ugly-cute" doll from Chinese toymaker Pop Mart. Now, why would a stock exchange chief be talking about a toy? Because Labubu isn't just a toy; it’s a living, breathing, grinning avatar of what Chan brilliantly termed "new consumption," and trust me, this isn’t just some niche market. This is a seismic shift, driven by Generation Z, and it’s rewriting the rules of value and cultural power right before our eyes.

Imagine a world where the most coveted treasures aren't luxury cars or sprawling estates, but small, often randomized, collectibles that speak to your soul. That's the world Labubu has ushered in. Shoppers are queuing up, celebrities like Rihanna and Dua Lipa are sporting them, and Naomi Osaka is customizing them with bling – affectionately naming hers "Andre Swagassi" and "Billie Jean Bling." This isn’t just hype; it’s an emotional investment. Pop Mart’s revenue for the first half of 2025 shot up over 200%, profits surged almost 400%, and Labubu alone accounted for a third of those sales. Their market cap? Worth as much as Hasbro, Mattel, and Sanrio combined. When I first saw these numbers, I honestly just sat back in my chair, speechless. We’re talking about a scale of emotional resonance that translates into billions.

So, what exactly is this "new consumption" that Gen Z is championing? It’s not about necessity; it’s about identity. It’s about discretionary spending on hobbies and small pleasures, a direct response to a turbulent world where big-ticket items like homes feel increasingly out of reach. Young urban shoppers, often frustrated by limited career options and social mobility, are finding solace and self-expression in these tangible, quirky delights. Think about it: they’re buying a blind box, not knowing which variant of a Labubu doll they’ll get. It’s a gamble, a thrill, a little hit of dopamine, perfectly designed for our hyper-connected social media landscape where the unboxing and the reveal become content, a shared experience. This business model, inspired by Japan's gachapon, pushes customers to try their luck, perhaps multiple times, to get their hands on a rarer doll, and it’s brilliant, a digital-age treasure hunt in physical form. What does this tell us about the future of desire, when the hunt itself, the element of chance, becomes as valuable as the prize?

The Shifting Sands of Global Culture

But this phenomenon goes far deeper than just cute toys. Labubu is merely the most visible crest of a much larger wave: the rise of Chinese intellectual property and local brands gaining massive traction outside of China. For too long, China, despite its immense history and population, has been seen as a manufacturing hub, not a cultural exporter. Japan gave us anime and video games; Korea gave us K-Pop and dramas. Now, Chinese cultural products are elbowing their way onto the global stage with unprecedented force. We’re seeing it with video games like Genshin Impact and Black Myth: Wukong, which are attracting global fan bases and setting player count records. Ne Zha 2, an animated Chinese film, is the top-grossing film globally, pulling in almost $2 billion. Chinese drink brands like Luckin Coffee and Chagee are expanding rapidly overseas, and even Chinese cosmetics are making waves with affordable products and aggressive digital marketing.

This isn't just about cheap production, though lower costs certainly help. As Ashley Dudarenok, founder of ChoZan, puts it, companies like Pop Mart are "more like cultural anthropologists than toymakers." They understand the pulse of their audience. They identify an IP, turn it into a cultural moment, and then build an entire media ecosystem around it. It's a masterclass in soft power, and it's being driven by a generation—the generation z and younger gen alpha cohorts—who are both deeply rooted in Chinese culture and widely exposed to global trends. They know how to create something that resonates universally, a beautiful fusion that transcends borders. This is the kind of cultural blossoming that feels like a printing press moment, rapidly disseminating new ideas and aesthetics to every corner of the globe, challenging old hegemonies and fostering a truly diverse global cultural landscape, and the speed of this is just staggering—it means the gap between today and tomorrow is closing faster than we can even comprehend, pulling us into a new era where cultural influence can spring from anywhere.

Now, some investors might get jumpy. We saw Pop Mart shares dip after a salesperson admitted blind boxes were overpriced, and the "Labubu mania" has indeed cooled from its summertime frenzy. It's easy to dismiss this as another Beanie Baby bubble, a fleeting craze destined to burst. But that misses the point entirely. The specific toy might fade, but the underlying trend of emotionally-driven consumption and the global appeal of culturally authentic, non-Western brands is here to stay. What Pop Mart has done, what these Chinese cultural exports are doing, is demonstrating a profound understanding of what the modern consumer, especially millennials and Gen Z, truly values: not just a product, but a statement, an experience, a piece of identity. Gen Z is going to test investors' mettle further

This new generation, spanning the gen z years born roughly from the mid-90s to the early 2010s, with their gen z years age range putting them firmly in adulthood or close to it, grew up in a world of constant flux: economic crises, pandemics, climate anxieties, and political instability. They’ve witnessed decline and uncertainty, and they’re not afraid to talk about it. They treat death less like a distant fate and more like a present possibility, driven by a raw pragmatism. This shapes their consumption habits profoundly. They're not just buying things; they're buying joy, connection, and self-expression in a world that often feels out of their control. This is where their power lies, not just as consumers, but as cultural shapers. And while their unpredictability might make some investors nervous, it also presents an incredible opportunity for those willing to truly understand and engage with their values.

The Age of Authentic Resonance

We’re not just witnessing a shift in what people buy, but why they buy it, and who they listen to. The old gatekeepers of culture and commerce are giving way to a more fluid, emotionally intelligent, and globally interconnected marketplace. This new consumption, driven by Generation Z, is a powerful force for cultural exchange and redefinition. It’s a testament to human desire for connection, meaning, and self-expression, even in the smallest of purchases. And for those of us eager to build a better future, understanding this shift isn't just good business; it’s essential for shaping a world that truly resonates with the hearts and minds of its youngest, most dynamic citizens. The future isn't just being built in labs; it's being bought, unboxed, and shared, one emotionally-charged treasure at a time.