Young consumers are cutting spending on personal expenses to afford holiday shopping.

Young consumers are cutting spending on personal expenses to afford holiday shopping. YPulse data shows that inflation is one of the biggest challenges Gen Z and Millennials say they’re facing this year, and it’s impacting their holiday shopping. Our Holiday Shopping Plans survey found that 69% of 13-39-year-olds say the economy / inflation is going to impact their holiday shopping this year, leading them to lower their budgets and start their shopping early. Now, research from Sitecore shows that many Gen Z and Millennials are forgoing personal expenses like streaming services and eating out to afford holiday shopping this year. The survey also found that one in five shoppers are willing to sell something or take another job / work more hours to increase their shopping budgets. With young consumers doing everything they can to make this holiday season special, brands have an opportunity to help them with early deals and discounts—and a dose of holiday cheer. (Industry Update)