Gen Z is opening their wallets as pent-up demand for spending grows. YPulse’s finance and spending research shows that 84% of 13-39-year-olds were cutting back on spending because of COVID-19, but now their spending habits are on the upswing. According to American Express Co.’s Chief Executive Officer, Gen Z and Millennials are at “125% spending of what their pre-COVID levels were in 2019.” As young consumers return to a state of normal by dining in, shopping, and traveling once more, they are helping fuel the U.S. economy post-COVID. (Bloomberg)
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