Young consumers are continuing to spend more money on experiences than older generations. JPMorgan looked into the purchases from Chase debit and credit cards in 2015, and found 34% of 19-35-year-old spending was designated to travel, dining, and entertainment, compared to 28% of 36-year-olds and older. Understanding Millennial spending patterns has become even more crucial, as their compound annual growth rate in retail spending is expected to be 15% from 2014-2020, compared to 4% for 35-year-olds and older. (Business Insider)
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