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Young consumers are continuing to spend more money on experiences than older generations.

Sep 15 2016

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