Global consumption growth is shifting decisively toward Asia, driven not only by scale but by the rise of Gen Zs and Millennials, whose expanding numbers, income growth, and influence position them as a dominant force in global demand. This briefing examines the drivers behind Asia’s new consumer economy and the defining characteristics of its rising generations. Rather than revisiting the well-documented Millennial story, we spotlight Gen Z, the cohort now driving the fastest shifts in digital culture, consumption patterns, and brand expectations across Asia. Their distinct behaviors and fast-moving preferences will shape global consumption and redefine what it will take for businesses to succeed in this new environment.