Since late 2019, millennials — those born between 1982 and 1996 — have been the most populous generation in the United States, with 73.2 million people in 2022.
Having long been a dominant cultural force, millennials also have a considerable annual spending power of $2.5 trillion. How do millennials (sometimes referred to as Gen Y) spend their money? What influences their purchasing decisions? What trends shape their shopping, spending, and saving habits?
In this report, we examine millennial shopping trends in the U.S., explore how the COVID-19 pandemic has impacted these trends, and how millennials, as America’s largest generation, continue to shape retail and e-commerce.
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