A study by Pinterest revealed that Centenarians You will make up for the year “lost” by the pandemic with huge expenses. According to data from, the trend seems to be confirmed American Expressindicating that the members of the Generation Z and Millennials open their wallets more often than before the arrival of the Covid-19.
While those who are to the Generation X and the so-called ‘Boomer’ Choose to save money for the future or invest in long-term assets (e.g. houses or cars), Consumers ages 15 to 40 they prefer to live in the present while the economy is reactivated in much of the world.
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As vaccination spreads in the United States, it is reported that Generation Z and Millennial youth are spending even more than they were before the pandemic.
“We assumed that there would be some catching up to do not only with travel but also with consumer goods and that the US recovery would be as it is now.”said Steve Squeri, CEO of American Express Co. during a virtual investor conference on Friday.
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Squeri pointed out that the average spending of both groups “125% of the value before Covid in 2019”. He added that this has helped boost overall AmEx card spending, although this quarter is still low compared to pre-pandemic levels.
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The executive stated that consumers are again interested in to travel (mostly national) and Excursions to restaurants. However, he found Business trip they will return to pre-pandemic levels by 2023.