I think you misunderstood me. Let me try again.

I don't personally know many people who are Gen Z (I'm a Millennial, and most people I know are Millennials, Xers, or Boomers). So most of what I "know" of Zoomers comes from things I've read, either social media conversations like this one or news articles/thought pieces. The impression I've gleaned from those is that Zoomers are not frugal: they're Apple customers, chronic online shoppers (often for products like fast fashion that are individually cheap but quickly add up), and are spending big on experiences like travel and concerts. For example, another comment in the thread asserts that "[Zoomers] needlessly spend more money than their older generation counterparts [on technology because they replace rather than repair]."

Now I take these types of demographic assumptions with a grain of salt, especially having witnessed all the nonsense articles and conclusions made about my generation. However there is some logic behind the explanations I've heard for why Zoomers are spenders rather than savers. Such as, perhaps Zoomers are more focused on living (and spending) in the moment given their experience being deprived during their formative years that happened to fall during covid lockdowns. Perhaps Zoomers spend more frivolously because why bother save for a bleak future ("go ahead and splurge a little: it's not like you'll ever afford a house either way!" or "In the 21st century you can do everything 'right' and still easily end up failing, so why bother following the 'right' path?") Perhaps it's because we've created a world (at least in the US) where people are lonelier than ever and everything costs money: you can't even hang out at the mall for free anymore because the mall was torn down last year, so you either spend money at another "3rd space" like a coffee shop, or you try to fill an emotional hole by purchasing things to make being stuck at home all the time more bearable (especially if you're still living with your parents because you can't afford to move out). Perhaps it's because there's more addictive stuff to spend money on that's targeted at youth, like online streamers and pay-to-play games. Again I don't know if any of this is true, but IMO it at least passes the sniff test.

However your comment asserts the opposite of what I've heard, so I was curious where you got your info from, especially since it's presumably based in some kind of research if it was part of a work report. Did you survey Zoomers asking about their spending habits? Did you analyze credit card data? Etc.