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This paper examines Generation Z consumers' perceptions of a good life beyond consumerism and how their perceptions and practices have evolved during crises and the cultural context in which they live. We present a unique theoretical and empirical cross‐cultural investigation which focuses on the ecological crisis and COVID‐19 pandemic, and the changes they have caused to Gen Zs' daily lives in the United States (California) and Finland. Two large qualitative data sets were collected through focus group interviews and open‐ and closed‐ended surveys before and during COVID‐19 and analyzed via the PERMA framework. Findings revealed that Gen Zs' pathways that lead to a good life include: healthy behaviors and balance; positive and meaningful relationships; happiness and positivity; meaningful things; productivity and goals; and daily routines. Findings also indicated that since COVID‐19, Gen Zs are increasingly shifting toward virtuous behaviors and eudaimonic‐oriented life, in which moderation, meaningfulness, and self‐realization play key roles. Gen Zs are characterized as a global consumer cohort and a driver of change for a sustainable future, thus understanding how these future professionals, leaders, and mainstream consumers perceive a good life provides theoretical and practical insights into how to provide ecologically sustainable well‐being for nature and future generations. [ABSTRACT FROM AUTHOR]