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The Generation Game

The Generation Game When it comes to our saving and spending habits, baby boomers, Generation Xers and millennials couldn't be more different. THE EVOLUTION OF THE BRITISH SHOPPING BASKET Items introduced to the British shopping basket during each generation. GENERATION Xx's CHILDHOOD WJAS BABY BOOMERS WILL REMEMBER: THE NEW NORMAL FOR MILLENNIALS: SHAPED BY: o CASSETTES VIDEOS O A FRIDGE NETFLIX SUBSCRIPTION FISH FINGERS D A MICROWAVE BLANKETS & DUVETS SHEETS D SMASH CD PLAYERS CORNED BEEF COFFEE PODS 30% of baby boomers carry around £21-50 cash in their wallets at any Only 30% across all generations are happy to make contactless payments using their phone. Generation X and baby boomers are becoming less brand loyal, while millennials are more discerning when it comes to brands. given time. 23% of millennials carry less than £5 a day. SPENDING HABITS Millennials have more of a 'treat yourself' approach with their spending, with 54% spending their disposable income on dining out. 78% of Generation Xers Baby boomers reflect a savvier spending mind-set, being more likely to spend in May and October in order will shop for a single product via the internet, visiting in store and various other channels before finally purchasing. to take advantage of the off-peak holiday seasons. HOW ARE MILLENNIALS WHAT DO MILLENNIALS, SPEND THEIR MONEY ON? SPENDING? FRIDAY 10 PM Debit card 77% EATING – OUT- CLOTHES AND Раypal 59% SOCIALISING FASHION - Credit Card 40% 54% 51% 35% Buy Now Pay Later 5% Interest Free 3% Credit Card DINNERS & BRUNCH Paypal Credit 2% BANKING BANK Interest Bearing 1% credit 0000 0000 O000 0000 M. LENIAL WHAT DOES THE FUTURE HOLD ? 2015 O 2025 30000 25000 20000 15 000 10000 5000 49% of millennials are optimistic about their financial future. Millennials will have spent £44,000 more than baby boomers and £25,000 more than Generation Xers on rent by the time they're 30. Cash and cheque payments are on the decline for all generations and it's likely that payments will mostly be electronic in a few decades. Sources: in_the_UK_retail_sector_v2.pdf ee%20Download.pdf Payments in a minute Cheque Credit Card Debit Card Cash Cheque Credit Card Debit Card Cash

The Generation Game

shared by Suzy on Apr 20
Age is but a number, or so we’re lead to believe. But how much does when we’re born affect our attitude and behaviour? We’ve examined how the financial habits of different generations compare, w...


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