A new report by NielsenIQ (NIQ) has revealed that Gen X—those born between 1965 and 1980 will be the most influential consumer cohort over the next decade.

The X Factor: How Generation X is quietly driving trillions in consumer spending was compiled in collaboration with World Data Lab (WDL).

It found that despite being smaller in size than Millennials or Gen Z, Gen X would form the world’s second-largest consumer market—second only to the United States and roughly twice the size of China’s total spending—in 2025.

NIQ Chief Communications Officer & Head of Global Marketing COE Marta Cyhan-Bowles said: “Gen X is at the center of a major economic shift—driving spending across categories while managing the demands of multiple generations.

“The data is clear—Gen X’s influence is profound and far too frequently overlooked by brands. This cohort will continue to shape the future of the global consumer economy for years to come.”

Gen Xers (currently ages 45 to 60 years old) have been in their peak spending years since 2021—and will continue as the world’s highest-spending cohort until 2033. They will spend $15.2 trillion in 2025 alone. By 2035 their annual spend will peak at $23 trillion.

According to NIQ Gen X will be the spending leader globally through to 2033, surpassing $20 trillion (USD).

“If you aren’t planning with them in mind, you’re missing your most profitable current customer,” the report said.

World Data Lab Co-founder and CEO Wolfgang Fengler said: “Gen Xers are the gatekeepers of trillions in spending, effectively serving as the CFOs of three generations—their own, their children’s, and their parents.”

Among the findings are that Gen X women control 50 per cent of global consumer spend, influencing 70–80 per cent of household purchasing decisions.

Gen X shopping behaviours differ in high-income and emerging markets. In North America, Gen X is the core spending engine through 2033. In the US, Gen X households spend more per household than Boomers or Millennials in most categories.

Gen X dominates in the UK and Germany, with strong spending in travel. In the Asia Pacific, Gen X spending is peaking in China.

View the report here.