Shopify president reveals which generation will spend most this Christmas

As the holiday season creeps closer, many will be looking to commence their Christmas shopping. But who will be splashing the most amount of cash on their gift purchases this year?

According to Shopify president, Harley Finkelstein, "Gen Z will be the biggest spenders this holiday season. I don't think it's that surprising. How they're spending, though, is going to be really interesting."

Speaking at the Reuters annual leadership conference in New York, Finkelstein elaborated on the growing demand for social media shopping.

"Gen Z want to actually complete the purchase right there, and so that's what we're trying to empower."