Younger Consumers Likely to Spend More This Holiday Than Shoppers Overall, Says NRF
Young adults likely will spend more this holiday season than last, compared with consumers overall, reported the National Retail Federation Wednesday. NRF canvassed 7,500 consumers in early November and found 77 percent plan to spend about the same on holiday…
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gifts this year as they did in 2017, it said. By comparison, 43 percent of young adults ages 18-24 and 38 percent of those 25-34 said they'll spend more, it said. Only 9 percent of consumers 65 and older are planning to spend more, it said: “This holiday season retailers will experience the growing purchasing power of Gen Z and millennials. Whether they are still in college or raising children, these consumer groups embrace the tradition of prior generations and take full advantage of Thanksgiving weekend deals both online and in stores.”