WASHINGTON – Holiday shopping is in full swing and consumers still have a lot more spending to do as they check off every item on their holiday wish list, according to a new consumer sentiment survey released today by the National Retail Federation and Prosper Insights & Analytics.
“This holiday season retailers will experience the growing purchasing power of Gen Z and millennials,” NRF President and CEO Matthew Shay said. “Whether they are still in college or raising children, these consumer groups embrace the tradition of prior generations and take full advantage of Thanksgiving weekend deals both online and in stores.”
While 77 percent of all consumers surveyed said they would spend the same or more this year, 43 percent of young adults ages 18-24 and 38 percent of those 25-34 said they would spend more. Only 9 percent of those 65 and older are planning to spend more. Read the full press release on National Retail Federation.