Millennials are no longer able to enjoy the little luxuries that made them feel rich. For middle class Millennials, using apps and tech-enabled membership programs that made their lives easier were small parts of their day that once felt luxurious. But now they’re finding just about everything to be too expensive these days. Grabbing an Uber to the airport or ordering takeout is double the cost, staying in an Airbnb for a weekend getaway is becoming less doable, and secondhand luxury goods on platforms like Depop and Poshmark are marked higher because of their “vintage” labels. Even loyal Dunkin’ drinkers are dissatisfied that the rewards program is now double the cost; just to earn a free latte, Dunkin’ members now have to spend $90 when it only used to be $40. Of course, young consumers are still spending on clothes, beauty, food, and travel, but YPulse research shows Millennials are especially concerned about the economy and plan on making some significant budget cuts ahead of a recession. (Fortune)
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