Millennials are the “driving force for the overall year-over-year increase in spending” during the holiday season. A recent poll from Rubicon Project revealed that 39% of Millennials have already started shopping for the holidays this year, and they plan to spend 33% more than last year on average. Over seven in ten plan to spend on apparel and accessories, 66% on video games, and 65% on gift cards, but experiences will take up the biggest portion of their holiday spending budget. The survey also found almost three in ten Millennials have no intention stepping into a physical store for their shopping. (PYMNTS)
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