WMT - Cooking at Home And Spending Less On Clothing: How Gen Z's Response to Financial Chaos May Affect Restaurant Apparel And Retail Stocks | Benzinga
In light of escalating living costs and a complex economic backdrop in the U.S., a recent survey delved into the financial dispositions and actions of Gen Zer individuals.
The 2023 Better Money Habits study conducted by Bank Of America provides a lens into how this demographic is grappling with its economic realities amid persistent inflation and altering economic conditions.
Adaptive Lifestyle Shifts - Cutting Corners To Meet Ends
A substantial 73% of respondents have reportedly adjusted their spending habits to economize on essentials like groceries and fuel in response to inflationary pressure.
A striking 96% of these pragmatic spenders said they foresee these adjustments continuing over the ensuing 12 months, indicating a more long-term change in their economic behaviors and spending patterns.
Gen Z Eyes Practical Spending Decisions
Additionally, 43% of Gen Zers said they have cooked at home more rather than dine out, with 90% saying they planned to maintain this approach through the upcoming year.
Here, we look at three companies that may face the brunt of the lackluster trend:
McDonald's Corporation (NYSE: MCD), which has been a popular food hub for young Americans, plunged 14.7% in ...