Gen Z and Millennials plan to spend more money than last year on upcoming deal days. According to a new survey by Akeneo, 55% of all U.S. consumers plan to participate in Amazon’s biannual Prime Day this summer. Among them, 42% of Gen Z and 37% of Millennials plan to spend more this year than last, compared to just 12% of Boomers. And a quarter of Gen Z and Millennials plan to spend on low-cost, everyday essentials instead of large purchases. (Even on sale, big splurges are tricky to swing.) This year, AI will likely influence how young people hunt and shop for deals. More than half of Gen Z (56%) and Millennials (54%) have adopted AI as part of their shopping habits as a means to parse through recommendations or find the best price on a product. (Morningstar)
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