Generation Z helping drive nation's consumption boom

Group's monthly disposable income nearly 50 percent higher than average

As consumption is set to drive China's economic growth in the coming decade, discussions abound as to what will characterize the next generation of shoppers.

Widely known as Generation Z, the age group tends to embrace cost-effective local brands incubated from online channels, yet does not hesitate to splurge thousands of yuan tipping a favorite livestreaming host.

Guotai Junan Securities, a leading Chinese brokerage, identifies Gen Z as those born between 1995 and 2009.