Gen Z consumers most likely to keep buying during the economic downturn: Datacenter Weekly

The consumers most likely to keep buying during the downturn

Performance marketing company Wunderkind gave Datacenter Weekly an exclusive first look at its new study titled “The Industry Pulse: Consumer Spending During Economic Uncertainty,” based on a survey of 500 consumers in the U.S. (An additional 500 consumers were surveyed in the U.K., but we’re focusing on the U.S. portion of the study.) Some key findings:

• Across demographics, “52% of U.S. consumers are cutting back on non-essentials, with 37% cutting back on essentials too,” per Wunderkind’s report.

• But Gen Z intends to keep spending: “In the U.S., the younger generation isn’t phased by the economic downturn as they registered the highest levels of consumer confidence, with only 22% stating a need to reduce discretionary spending.”

• “The percentage of high-income U.S. consumers passing on luxury items is a mere 13%. The majority (63%) of this demographic say they have no need to cut back at all,” Wunderkind’s survey found.

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from Digital Marketing Education https://ift.tt/2jveSPM