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How Young Consumers Have Changed Their Spending Because of Inflation

As inflation continues to torment young consumers’ wallets, they tell YPulse this is how their spending patterns have changed in the last year…

Written and Edited by the YPulse Editorial Team

Mar 29 2023
North America

KEY TAKEAWAYS

Besides spending less overall, reducing food costs are top ways young consumers are managing inflation prices
Even necessities like groceries are the top category they’re reducing spending on, putting Millennial parents especially in dire positions
Sales, generic options, and store brands are staples in their shopping now to reduce costs wherever they can

Gen Z and Millennials named inflation the biggest problem their generations were facing in 2022. Now, in 2023, inflation has only continued to rage on, disrupting their finances and forcing them to budget differently in order to get by. When we first began asking young people their thoughts on a potential recession, which 45% of young people now say is currently happening, we also asked what about their spending would change if one did start. Now, we’ve asked what parts of their spending have changed in the last year because of inflation, as an open-end, and their top ten answers...