Gen Z and Millennials are cutting back their spending because of inflation, but these gens want to have fun too. Welcome: the Joy Economy. As YPulse predicted for this year, young people are willing to splurge on things that bring them intense joy. They’re balancing it out by cutting back on other expenses in their day-to-day lives—and saving for the future where they (realistically) can. While young consumers’ biggest financial priorities are on their stability, they’re needing education and help from financial institutions to make their goals a reality.
Report length: 18 pages, North America report is based on surveys of 1500 13-39-year-olds in the U.S. and Canada, fielded in February 2024. Western Europe report is based on a survey of 2500 13-39-year-olds in the U.K., Italy, Spain, France, and Germany, fielded in February 2024.
