“I think people are trying to figure out exactly why that sort of economic behavior is happening because it seems strange,” said Kyla Scanlon. “But in my opinion, I think all of these things are rational.”
New data shows Gen Z is spending on travel, coffee, cosmetics and jewelry — bucking the K-shaped pattern where higher earners recovered from the pandemic much faster than lower earners.
When analysts want to know how Americans are feeling about the economy, they look to consumer surveys from The Conference Board and the University of Michigan. But they each paint a slightly different picture of people under age 35.
It’s way too early for most of us to be thinking of holiday shopping. But it’s definitely not for retail strategists, and some believe that younger people are planning to spend less this holiday season than older generations.