"While Gen X only makes up around 19% of the U.S. population, the demographic is responsible for 31% of online and in-person spending, the report finds. Not only do Gen Xers buy more in stores than baby boomers, millennials, and Gen Z across categories (luxury, fitness, and total retail costs), they're also driving spending on dining out. Per the report, Gen X is responsible for nearly one-third of all restaurant spending."
"When it comes to their spending power, however, Gen X is small but mighty. According to a new report from ICSC, a trade association for retail real estate, Gen X may have more spending power than brands realize. Tom McGee, president and CEO of ICSC, said in a press release that Gen X is "the powerhouse driving today's retail economy, spending more per shopper than all other generations.""
Gen Xers (born 1965–1980) grew up with MTV, empty houses, AOL Instant Messenger, and early video games, earning the 'latchkey kids' label. The generation represents roughly 19% of the U.S. population but generates about 31% of combined online and in-person consumer spending. Gen Xers buy more in stores across categories including luxury and fitness and contribute disproportionately to dining-out expenditures, accounting for nearly one-third of restaurant spending. Large concentrations of Gen Xers live in California, Texas, Florida, New York, and Pennsylvania, where their spending noticeably influences local retail markets. Gen X shoppers show entrenched brand preferences and strong purchasing power.
Read at Fast Company
Unable to calculate read time
Collection
[
|
...
]