Last June, home-grown swim brand Bydee had a record month selling nearly 50,000 bikinis. In December, there were lines at the door of its only physical store in Sydney’s Rosebery. Yet, the brand is a near unknown to most Australians outside social-media-literate 18- to 34 year-olds who get their style inspiration from TikTok and Instagram.

This cohort is feeling more financially optimistic than anyone else. Research from broker UBS finds that the inflationary pressures and decade-high mortgage-servicing costs that have worn down households in older demographics are not apparent among a select group of 18-to-34s (Gen Z and some Millennials) who have a job and line of credit at the bank of mum and dad.