Who is Spending?

In Uncategorized by World Class Deals

There are currently three primary generation classifications that exists in the retail space: Millennials (born between 1981 and 1996), Generation X (born between 1965 and 1980), and the Baby Boomers (born between 1946 and 1964). In the age of e-commerce, it is crucial to understand who is spending and where the money is being spent. Transitioning past the first quarter of the twenty-first century, it is safe to say future spending will be conducted primarily by Millennial and Gen Z consumers. As the trends of spending shift from Baby Boomers and Generation X to Millennials and Generation Z, it is necessary to understand the adaptation that must take place in the retail space. Importantly, as Pew Research notes, Millennials are expected to grow into the biggest generation in American history.