Some 45% of American adults claim to be spending more today than they were a year ago, with Millennials (51%) most likely to be loosening the purse strings, per survey results from Gallup. Interestingly, this increased spending comes despite a general tendency across generations to be unwilling to spend more on items they don’t need. The extent to which respondents are increasing – or decreasing – spending varies by category and generation.
When it comes to clothing, Millennials are the most likely to be spending more (31%) and the least likely to be spending less (27%). In fact, the propensity to be spending more on clothing decreases with age, per the survey results. Read the rest at MarketingCharts.