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Gen Z and Millennials’ Holiday Shopping Budgets Are Tighter Than Last Year

Financial worries have Gen Z and Millennials planning to spend less on the holidays than last year…

Written and Edited by the YPulse Editorial Team

Oct 18 2022
North America

KEY TAKEAWAYS

Young consumers’ holiday shopping budgets have taken a big hit since last years’ spending boom
To still buy what they want, they’ll be searching for deals and spreading out payments
YPulse data shows predicted holiday budgets are often lower than their final spending total

With only a couple weeks left until Halloween, winter holiday merchandise has hit retail shelves, and YPulse’s Holiday Shopping Plans report shows many Gen Z and Millennials are ready to get a head start on gift shopping. Especially with their recent financial concerns: two thirds of 13-39-year-olds agree the current state of the economy / inflation has made them think about holiday shopping earlier than they usually do. They’re hoping to find more deals that will make staying within their holiday shopping budgets possible—and those budgets have taken a significant cut from last year. A projection from Mastercard in early...