A survey of 1,820 adults by American Express released yesterday found most millennials reporting stronger plans for major life milestones and purchases in 2015.
Fifty-six percent of millennials reported they were planning a major life milestone in 2015, more than any other generation and more than those considered affluent. Starting a new job (27%), moving (23%) and starting/graduating college (9%) were the top upcoming milestones for many millennials.
The new year will also see most millennials shelling out for big ticket items like cars and new homes. Nearly six-tenths (59%) of millennials plan some big ticket purchase in 2015, with a third (33%) of all millennials planning to purchase a car.
According to David Rabkin, SVP of consumer lending products at American Express:
“For the last several years, we’ve heard a great deal about Millennials being held back by the recession. Now, with an improving economy, the country’s 80 million Millennials say they will be wielding their wallets, a trend that will create an interesting new dynamic for retailers.”
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