Generation Z refers to the generation of people born at the beginning of the 21st century, whose beginning of maturation fell on a time characterized by globalization, informatization and economic growth. The theoretical basis of the sociological study of consumer behavior of generation Z is 1) the theory of generations by W. Strauss and N. Howe, according to which people born in a certain period of time have common life values and socio- psychological characteristics; 2) the theory of J. Schumpeter, which focuses on market progress and economic growth; 3) the theory of conspicuous consumption by H. Leibenstein; 4) the theory of D. A. Uznadze. The authors come to the conclusion that the attitude towards conspicuous consumption, formed in the generation Z in the period of growing up, does not correspond to modern antagonistic socio-economic conditions.