article

Young Consumers Are Turning to Dollar Stores in The Face of Another Recession

With fear of a recession, and the already huge impact of inflation, YPulse’s brand data shows affinity for dollar stores is on the upswing among Gen Z and Millennials…

Written and Edited by the YPulse Editorial Team
KEY TAKEAWAYS
  • Gen Z and Millennials’ overall brand affinity for dollar stores has risen significantly in the last year
  • Dollar store items go viral on social media, because of their quality as much as their price
  • Knowing how young consumers are prepared to handle a recession, dollar store brands will be able to provide the necessities they hope to save on
  Gen Z and Millennials are stressed about money, between the economic hardships that came with the pandemic, inflation causing rising prices all year, and now the looming threat of another recession. In fact, when YPulse asked young people to think about the current state of the economy, 40% say we’re already in a recession. Despite some experts saying another recession wouldn’t be as bad as the detrimental ones these young gens have seen already, they’re showing caution in their spending habits anyway. CNN reports that despite wages rising faster than ever, inflation is doing the same, and “the cost of essentials is eating away at workers’ fatter paychecks.” But, much the same way young consumers love budget shopping at mass merchandise stores, they’re showing a growing affinity for the most budget-friendly option there is: the dollar store.  YPulse’s brand tracker monitors Gen Z and Millennials’ brand affinity through 20 diagnostics, and which are rolled into the brands’ YScore+, an overall measure of their performance among these gens. Young...

Stay on the Pulse

Latest Stories
Related Articles
Article

From viral water bottles to tween-approved accessories, this year’s back to school shopping list looks a lot different than it did for previous gens… 

Article

Brands, start planning now: Gen Z is already gearing up for three pop culture moments that are bound to take over their FYPs…

Article

This summer, fast food brands have been making menu adds that resonate with Gen Z’s love of colorful, fruit-forward, and customizable drinks…

YPulse Weekly Newsletter

Get our editors’ weekly picks on the Gen Z and Alpha stories you need to know.

Your newsletter subscriptions are subject to YPulse’s Privacy Policy and Terms and Conditions.

Enter your colleagues' emails (max 10) to invite them to sign up for a YPulse account. We'll send them a message and let them know you invited them.

plus-circle Created with Sketch Beta.

Are these emails correct? If so, click Submit Invitation(s)?