Generation Z Tightens Purse Strings for Holiday Season

  • Gen Z shoppers are cutting their holiday spending budgets
  • 80% of Gen Z wait for items to go on sale before buying
  • Only 21% of Gen Z regularly pay full price for a product
  • The share of Gen Z looking for discount codes has increased by 14%
  • Gen Z expects to cut overall holiday spending by nearly a quarter this year
  • Total holiday sales could see a 5% drop due to the generation’s spending pullback
  • Retail sales growth in November and December predicted at 4%, lower than the 10-year average of 5.2%

A recent survey by PwC reveals that Gen Z shoppers are planning to cut their holiday spending budgets, with a significant portion waiting for items to go on sale and seeking discount codes. This shift in behavior could lead to a 5% decrease in total holiday sales compared to last year. Bain & Company’s report predicts retail sales growth of only 4% in November and December, lower than the average 5.2% over the past decade.

Factuality Level: 8
Factuality Justification: The article provides accurate and relevant information about Gen Z’s holiday spending habits based on PwC’s survey findings and compares it to previous years’ trends. It also includes data from another source (Bain & Company) to predict lower growth rates for retail sales during the holiday season.
Noise Level: 3
Noise Justification: The article provides relevant information about Gen Z’s holiday spending habits and its potential impact on overall sales but lacks in-depth analysis or exploration of the reasons behind this trend.
Financial Relevance: Yes
Financial Markets Impacted: Retail industry
Financial Rating Justification: The article discusses changes in spending habits of Gen Z shoppers, which can impact retail sales and potentially affect the financial performance of companies within the industry.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no extreme event mentioned in the article.

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