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Holiday spending is younger and more online

Garret Kluever, Biz and tech Editor

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The mega deals of Thanksgiving, Black Friday and Cyber Monday are winding down but a trend is growing among young consumers.

While a majority of consumers, 54%, say they will spend more than they did last year, a survey by the National Retail Federation and Prosper Insights & Analytics show that people most likely to spend more than last year are also the youngest

According to the survey, 46% of consumers who plan to increase their spending from last year are aged 18-24, which includes older members of Generation Z.

While most people would associate that age gap with low income and high spending costs like tuition, there is a separate reason for increased spending, that being freedom and friends. Many college students and young adults are truly in charge of their finances for the first time in their lives.

With social pressures like friend groups to spend for, also some being fiscally responsible for family christmas gifts, there are many reasons for this age group to spend.

“I think they have more to buy for, like your friends, your room and more things available to you,” said Senior Aubrey Krysinski.

Kryzinski took part in the holiday season by shopping for and with her friends during the Black Friday rush.

The social aspect of holiday shopping is another incentive for young adults to take part in the buying season. However overall, studies are showing that holiday shopping is increasingly growing online.

According to Adobe Digital Insights, over the past previous three years total online sales from Thanksgiving, Black Friday and Cyber Monday have increased by 2.26 billion dollars.

Moreover, this isn’t just because of retail promoting of Cyber Monday. Online growth on Black Friday actually outdoes growth on Cyber Monday 86 billion dollars to 80 billion dollars.

Freshman Emily Peot sees a lot of benefits to shopping online rather than in person.

“I think it’s easier to order online, you can order everything at once and not have to wait in line,” said Peot.

As the consumers continue to change the holiday spending season, it falls on the retailers to keep up. Soon midnight store stampedes may be a thing of the past, instead replaced by a few swift clicks into an online shopping cart.

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The student news site of the University of Wisconsin - Whitewater
Holiday spending is younger and more online