However self-indulgent they are perceived to be, Millennials and Gen Xers (those born after the post-WWII baby boomers) are a cost-conscious lot, according to SymphonyIRI’s quarterly MarketPulse findings, released October 2012. Fully 37% of Gen X adults surveyed buy brands that are on sale, rather than the brands they prefer. Just under one-third select products to create more meals at the lowest possible cost, and one-third choose products based on loyalty card discounts.
This frugality is likely a reflection of Gen Xers’ experience: They entered the adult working world after the 1987 stock market crash, and many were left jobless and forced to move in with their parents (a trend called “boomeranging”).
Still, 24% of Gen X adults think their financial situation has improved over the last 12 months, and 37% feel their finances will improve over the next 12 months. Read the rest at MarketingCharts.
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