The young are spending up large – then the bills arrive

The young are spending up large – then the bills arrive
In the US, spending by households led by Gen Zers and millennials topped US$2.7 trillion (NZ$4.16t) in 2021. (Image: Depositphotos)
The Economist
Young people have always perplexed their elders. Today’s youngsters are no different; indeed, they are baffling. They have thin wallets and expensive tastes. They prize convenience and a social conscience. They want shopping to be at once seamless and personal. They crave authenticity while being constantly immersed in an ersatz digital world. As they start spending in earnest, brands are trying to understand what these walking paradoxes want and how they shop. The answers will define the next era of consumerism.Their absolute n...

More World

Australian monthly inflation indicator flashes fresh price warning
World

Australian monthly inflation indicator flashes fresh price warning

The monthly consumer-price index indicator rose 3.6% in the 12 months to April.

Saudi Arabia to raise billions in fresh Aramco stock sale
World

Saudi Arabia to raise billions in fresh Aramco stock sale

If it goes ahead, offering would help kingdom pay for planned mega projects. 

Lendlease quits international construction to free A$4.5 billion
World

Lendlease quits international construction to free A$4.5 billion

It plans to release up to A$2.8 billion in capital over the next 12 months.