South Africa, Aug. 18 -- NielsenIQ (NIQ), in collaboration with World Data Lab (WDL), has released a comprehensive generational spending report focused on Generation X, the cohort born between 1965 and 1980. Titled The X Factor: How Generation X is quietly driving trillions in consumer spending, the report reveals that South Africa's Gen X is an economic powerhouse accounting for 21.4% of total spending.

Generation X worldwide accounts for 24% of consumer spending and represents a market worth $15.2 trillion, which is roughly twice the size of China's total consumer market. By 2035, their annual spending is expected to peak at $23 trillion.

"Gen X is a force to reckoned with in South Africa, despite the country's relatively young popula...