There’s one demographic that isn’t planning to spend less these holidays — and no, we’re not talking about the super-rich.
A new poll by Maritz Research finds Generation Y (born between 1978-1989) plans to spend the same as last year, about $550.
“This generation is known for their impulse spending and taste for fashion so they are a great target for retailers this holiday season,” strategic consulting director Tom Krause said in a statement.
Krause also attributed Generation Y’s spending persistence this year to the fact they’ve “never really experienced a recession.”
The poll has good news for Target, too. Gen Y respondents ranked Target as their first choice among major retailers, with 67 percent saying they plan to shop there.
Sears? Not so much. The old department store can expect to see just 13 percent of Generation Y shoppers. (And how many of those do you think will be shopping with their mothers?)
Wal-Mart ranked second with 61 percent, followed by Best Buy at 52 percent.