Gen Z consumers are facing significant financial challenges due to the pandemic aftermath, surpassing those of millennials during the global financial crisis. A survey by Bankrate reveals that 42% of Gen Zs and 47% of millennials plan to use debt for summer trips. Gen Z is embracing travel despite financial constraints. A study shows that 41% of Gen Z purchased luxury watches in the last year, spending an average of $10,870 per watch and often using debt for these purchases.
"41% of Gen Z acquired a luxury watch in the last 12 months" I can't stress this enough: no they haven't. That's a bullshit factoid released by the marketing department of a company that sells watches. https://t.co/JpPBItO15K
Why is Gen-Z OBSESSED with luxury watches? - 41% of Gen Z acquired a luxury watch in the last 12 months - Avg spend on a watch was $10,870, millennials spend 1/2 that much - Gen-Z buys on avg 2.4 new watches per year - 21% more likely than other generations to use debt Wild. https://t.co/CGwiKnqD31
Gen Z is traveling more, and debt isn’t slowing them down https://t.co/ioyySW4Vyl https://t.co/XyGP0DOoLT
42% of Gen Zs and 47% of millennials say they plan to use debt to finance their summer trips, according to a survey by the financial services company Bankrate. https://t.co/t1C2wT7q15
"Gen Z consumers have seen their finances significantly impacted by the pandemic and its aftermath, even more so than the challenges faced by millennials as a result of the global financial crisis." https://t.co/hQzrRfMLaJ