48% of Younger Folks Say They Are Spending Extra Cash in 2021, Finds New Knowledge From Clutch | State Information

WASHINGTON, August 26, 2021 / PRNewswire / – Nearly half of people between 18 and 34 (48%) say their spending increased in 2021, according to a new survey from Clutch, the leading B2B rating and review platform.

Clutch surveyed Americans to see if they were spending more or less than they did in 2020. The data shows that consumers are generally spending more than they did a year ago and that middle-aged people are used to shopping online.

After a year of saving, young Americans are ready to open their wallets, which experts attribute to the improved economic environment and a reduction in COVID-related restrictions.

Some experts say that young people are particularly likely to spend more on travel expenses before some COVID restrictions are reintroduced.

“There is ongoing concern that we could face another lockdown in our area, especially as the weather turns cooler,” said Barker. “Millennials try to use this time to see as many new places as possible.”

Middle-aged people who spend more money online

Half of 35 to 54 year olds (50%) say their online spending increased in 2021. By comparison, only 43% of people between 18 and 34 and 37% of those aged 55 and over reported higher online spending that year.

Experts say the reduced in-person commerce during COVID-19 has made middle-aged consumers more comfortable shopping online.

“Before the pandemic, most middle-aged people did their shopping and grocery shopping in person,” said Cindy Corpis, CEO of SearchPeopleFree, a software development company. “But there has been a shift towards online shopping since the pandemic.”

Corpis believes the increase in online shopping by middle-aged consumers is a strong sign of the future of e-commerce.

“When the highest income age group begins to migrate to online shopping, sales and profits for e-commerce stores will soon increase significantly,” said Corpis.

If you have any questions about the survey or comments on the findings, please contact Anna Peck at 317537@email4pr.com.

Clutch is the leading rating and review platform for IT, marketing and business service providers. Over half a million service buyers and sellers use the Clutch platform every month, and the user base is growing at over 50% annually. Clutch was named one of the 500 Fastest Growing Companies in the US by Inc. Magazine and was listed as a Top 50 Startup by LinkedIn.