Abstract

This research aims to diagnose the current level of consumer happiness by generation, including the MZ generation, and seek ways to improve consumer happiness. 775 participants categorized into Baby Boomer generation (Boomers), Generation X, Generation M (Millenials), and Generation Z (Gen Z) were surveyed with a questionnaire composed of consumer happiness, self-regulation, and decision making style scale. To examine reliability and validity of scale, data were analyzed by internal consistency and factor analysis. Furthermore, mean and standard deviation of responds from each generation were evaluated to establish generational differences, and research hypothesis was examined by analysis of variance and Scheffe test. According to the research result, first, consumer happiness in 2022 decreased overall from 2012. Second, differences in consumer happiness were observed among the generations. Thirdly, there were differences in self-regulation among the generations. Fourth, different levels of decision making style were shown among the generations. It was notable that Gen Z participants displayed a higher consumer happiness level than Boomers, Millenials, and Generation X participants did while their self-regulation and decision making style level were lower. This findings indicates that Gen Z is higher in consumer happiness but more deficient in self-regulation and rational decision Making. Lastly, limitations of this study and possible directions of further research were discussed.