Gen Z adopts value-driven spending to live more purposefully

The growth of the economy and society is gradually reshaping how young people view money. According to McKinsey’s The State of the Consumer 2025, based on surveys of more than 25,000 consumers in 18 countries, younger generations are forming more selective spending habits and have higher expectations for each transaction, with experience, convenience, and a sense of control becoming core values.

From “spending fewer things” to spending in the right places

McKinsey highlights a paradox among younger consumers: they have not achieved financial freedom, yet they are willing to spend on items they consider worthwhile. Personal experiences, convenience, and the ability to control life are valued more than material possessions.

In Vietnam, the shift is visible in everyday choices, from meals and payment methods to selecting experiences as part of a broader move toward a more proactive and purposeful lifestyle.

Minh Anh (27, a communications staffer in Ho Chi Minh City) said she does not shop often, but each spending decision is purposeful: “I don’t buy because it’s cheap, nor because of brands or trends. An item that fits, lasts long, a course that upgrades my skills, or a trip that recharges my energy—I want my money to serve those things.”

When value is prioritized over quantity, spending becomes part of a conscious lifestyle, with young consumers aiming to ensure each dong is spent deliberately.

Every transaction must deliver more value than its cost

Alongside the mindset shift, McKinsey notes rising expectations among young consumers: each transaction should do more than satisfy a need—it should bring additional value.

This refined demand has created room for loyalty-point programs and benefits, including Techcombank’s Loyalty Program, which uses U-Point accumulated from transactions made on Techcombank Mobile.

How points are earned and redeemed

The program is designed around an easy points-accumulation mechanism tied to everyday spending, including paying utilities bills, QR code payments, or card swipes. The approach allows both large and small transactions to generate value that can be used later.

Thu Hà (30, a freelancer) said she often uses U-Point to buy drinks at Starbucks by redeeming vouchers worth 100,000 to 500,000 VND. She added that two vouchers can be used at the same time, describing it as “very convenient.”

Beyond Starbucks, U-Point can be exchanged for vouchers from other major eateries and retail-related brands, including WinMart, Big C, Highlands, Phúc Long, and casual local dining options near home or work. The program positions banking benefits beyond payment tools, extending into a lifestyle-focused ecosystem where transactions unlock privileges and continued experiences.

Payment methods are also part of the experience

McKinsey also points out that “value” in consumer behavior is not only tied to the product, but also to how users access and use services. As a result, the payment experience becomes part of the consumption journey rather than just the final step to complete a transaction.

Anh Quang (35, Hanoi) said he values being able to use Techcombank’s U-Point to pay directly at stores because it feels like paying with cash, without point redemptions disrupting daily spending habits.

As fast and seamless payment solutions— including those that use reward points—become more preferred, the role of technology becomes foundational. The emphasis is on placing users at the center of the spending journey so that each touchpoint remains smooth.

Smart spending as a way to take control of life

McKinsey describes Gen Z as willing to spend on experiences, ranging from small daily pleasures to major expenditures such as travel. The central driver is not the amount of money, but the sense of autonomy and value—spending aligned with one’s own pace of life without constraint or undue delays.

In this context, the bank’s role extends beyond holding money or processing transactions, becoming part of a lifestyle choice. With Techcombank, U-Point is presented as a link in an ecosystem in which daily transactions add value to elevate future experiences. The approach is described as neither strictly frugal nor extravagant, but tailored to how users want to enjoy life.

Techcombank also integrates the lifestyle app OneU to make spending and customer benefits seamless and easier to manage. With OneU, users can use U-Point for activities such as buying concert or football tickets, redeeming Flying Bamboo Golden miles, and hunting shopping vouchers and dining offers.

Overall, the article frames smart spending among today’s youth as being less about how much is spent and more about what it is for and how it fits into daily life—where convenience, experience, and a sense of control are supported by loyalty and lifestyle ecosystems.