Benzinga
Published Dec 18, 2023 17:27
Updated Dec 18, 2023 19:10
Young Americans Embrace 'Buy Now, Pay Later' For Holiday Spending: 5 ETFs To Watch
Benzinga - by Piero Cingari, Benzinga Staff Writer.
As Americans gear up for the holiday season, the latest Bank of America Winter Spending Survey has unveiled a significant shift in holiday spending trends, particularly among younger Americans.
With more than 40% of respondents expressing their intention to tighten their belts this festive season, what stands out most is the resilience of the younger generations when it comes to their holiday shopping plans. In fact, millennials and Generation Z seem least inclined to reduce their holiday expenditures.
However, to maintain a healthy spending pattern, the survey also sheds light on a significant surge in the adoption of “Buy Now, Pay Later” services within this population cohort. This shift in payment preferences suggests holiday spending might extend into the early months of the following year, potentially boosting overall holiday sales.
Read Also: Wall Street’s Rally Brought $5 Trillion In Wealth To US Households — Just In Time For Christmas
XRT | 12.1 | 13.7 | 18.0 | The Gap Inc. (NYSE:GPS), Foot Locker Inc. (NYSE:FL) |
IBUY | 11.0 | 14.6 | 34.1 | Affirm Holdings Inc. (NASDAQ:AFRM), Carvana Co. (NYSE:CVNA) |
XLY | 7.8 | 5.2 | 40.4 | Amazon.com, Inc. (NASDAQ:AMZN), Tesla Inc. (NASDAQ:TSLA) |
RTH | 5.3 | 5.7 | 16.7 | Amazon.com Inc., Home Depot Inc (NYSE:HD) |
MILN | 1.0 | 11.8 | 34.7 | Uber Technologies Inc. (NYSE:UBER), Meta Platforms Inc. (NASDAQ:META) |
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