Gen Y Still Spending on Consumer Goods

There are an estimated 51 million consumers ages 18 to 29 in the United States. Although this so-called Millennial Generation, or Gen-Y, has been most affected by unemployment and pay cuts during the course of the recession, its members are less likely than those in  other age groups to curb spending. In its new report, Millennials in the U.S.: Trends and Opportunities Surrounding Gen-Y Adults," Packaged Facts says this financial confidence will be key to economic recovery.

"The older Gen-X consumers are at a big-spending stage of life, while Gen-Y consumers offer a bright note in an otherwise dismal spending picture, because throughout the recession they have been more willing than older shoppers to spend more in coming months," says Don Montuori, publisher of Packaged Facts. Additionally, Gen-Y consumers are at a stage in life where most of the income they earn is likely to be spent."

For makers and marketers of consumer goods, including food products, the report offers a detailed demographic profile of Gen-Y,a look at  their consumer attitudes and behaviors, an assessment of trends shaping the adult Millennial market, and identifies opportunities available to marketers interested in connecting with Gen-Y consumers. The Packaged Facts report also includes a forecast of the growth of the buying power of Gen-Y consumers through 2015, and an analysis of how these Gen-Y consumers manage and spend money.