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Consumers Have Inflation Fatigue But Retailers Should Chase This Group of Shoppers
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Men in the 23-35 bracket plan to spend more over the next six months versus women their age, according to the Alvarez & Marsal’s Spring 2023 Consumer Sentiment Survey.
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“We’ve got the younger age group being more economically optimistic,” said Jonathan Sharp, managing director in Alvarez & Marsal’s Consumer Retail Group. And while they’re driving more discretionary spending than other demographic groups, “within that discretionary spend, apparel is the [one that’s] fastest rebounding—I’m not pretending it’s on the positive side of the ledger, but it’s the fastest rebounding category.”