Millennial parents are driving holiday spending this year, with nearly two-thirds planning to match or exceed last year's budgets, according to TransUnion. Many millennials report rising incomes and stable employment, boosting confidence. The National Retail Federation forecasts holiday sales to hit a record this year, while Deloitte estimates shoppers will spend an average of over $1,700, up 8% from 2023. Buy now, pay later services are growing in popularity, with spending expected to peak on Cyber Monday, Adobe reports.
Category
🗞
NewsTranscript
00:00It's Benzinga bringing Wall Street to Main Street.
00:02Millennial parents are set to fuel holiday spending this year with nearly
00:06two-thirds planning to match or exceed last year's budget.
00:10This is according to TransUnion. Rising income and stable jobs are driving their confidence.
00:15The National Retail Federation predicts record-breaking holiday sales, while Deloitte
00:20estimates the average shopper will spend over $17,000, an 8% increase from 2023.
00:27By now, pay later services are also surging with spending expected to peak
00:31on Cyber Monday. This is according to Adobe.
00:34For all things money, visit Benzinga.com.