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Young people will spend more on Christmas this year than last year

The recent waves of the coronavirus pandemic have boosted the role of online commerce. Most people under 55 are already shopping online for the holidays this year, according to an international survey of 16,000 EY consumers. Most of the younger generation, Y and Z, plan to spend more on Christmas.

More than half of Generation X, Y, and Z shoppers born after 1965 were shopping online for the holiday season at the next big discount. This is especially true for those born between 2000 and 2010, 60 percent of whom will purchase select products online and only 11 percent will go to a store for this reason. Only older baby boomers will spend a similar percentage online (35 percent) in stores (29 percent) or a combination of these (35 percent).

Most people under 55 are already shopping online for the holidays this yearSource: Thinkstock

Based on the study Shopping fever is more likely to hit those under the age of thirty, with one in five shoppers accessing their wallets more this year than last year. This is because they claim to make them happier if they spend more. Only 15 percent of Generation X born between 1960 and 79 and only 8 percent of Baby Boomers plan to spend more on vacation than the previous year.

For decades, merchants have tried to grab the attention of customers with stores wearing lights and decorations. However, traditional solutions are being pushed to the background with the rise of online shopping. Businesses that take these changes into account and are able to effectively capture customers’ attention online can expect a high number of traffic this year as well.” – confirmed László Roland, co-partner of EY’s business advisory business.

picture illustrationSource: shutterstock

About Search

The eighth edition of the EY Future Consumer Index polled 16,000 consumers in several countries around the world (US, UK, Canada, Brazil, Mexico, France, Italy, Germany, Spain, Denmark, Sweden, Finland, Norway, India, Saudi Arabia), Saudi Arabia, South Africa, China , Indonesia, Japan, Australia and New Zealand) October 6-25, 2021. Between. More information: https://www.ey.com/en_gl/consumer-products-retail/as-consumers-move-on-stay-close

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