Younger Consumers Spending More Than Ever
Younger consumers, even though they have less saved than older consumers, are the ones opening their wallets as the U.S. economy recovers. American Express Company revealed that both Millennials and Generation Z are spending even more now than they did before the pandemic, as vaccines continue to rollout.
“We assumed there was such pent-up demand—not only for travel, but such a pent-up demand for consumer goods—that the U.S. recovery would be like it is right now,” CEO Steve Squeri said. “When you look at your Millennials and your Gen Z’s right now, they’re at 125% spending of what their pre-Covid levels were in 2019.” (Yahoo! Finance, 06.04.21)
Are you prepared for the “new normal” as consumers are willing to spend more than ever? H2R can help you capitalize on this trend. Contact us for more information or schedule a free consultation today.
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