According to a survey by the company PYMNTS, there are marked contrasts in spending on non-essential items between the generation baby boomer and the Generation Z.
The report, which is based on data collected in April of this year from more than 2,000 US consumers, pointed out that older consumers are adopting strategies to find deals when purchasing foods. In contrast, most younger consumers still spend on additional items as they desire.
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The research shows that the Baby Boomers and the Generation X were the most receptive to the idea of reducing spending on non-essential grocery items, showing reduction rates of 59% and 61%, respectively. However, only 41% of Gen Z consumers said they do the same.
The dynamics of shopping in supermarkets for different generations
As the rate of inflation decreases, consumers become less concerned about price increases, as explained by Barbara Connors, vice president of strategy at 84.51°, Group's data science company Kroger.
Consumers are gradually resuming their preferred non-essentials after a period of containment.
Connors emphasized that with the margin reduction, consumers showed a greater predisposition to add impulse and indulgence categories back to their shopping basket. This trend reflects the availability of slightly higher income for these discretionary purchases.
According to Commerce Platform's Q1 2023 Consumer Trends Report electronic Jungle Scout, there was also a significant contrast in online shopping habits between different generations.
Millennials were identified as the generation most concerned about their finances, being almost twice as likely to have a more stable household income compared to Baby Boomers.
On the other hand, Baby Boomer consumers demonstrate greater tolerance for seeking out items on sale and using credit cards that offer money-saving benefits.
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