Gen x outspends — a short introduction to this piece.
Gen x outspends: Quick Notes
ICSC report finds the group is one of retail’s ‘most valuable and underestimated’ consumer cohort
Fast Facts
- Gen X outspends Boomers by nearly 80% in home furnishings.
- Gen X accounts for 31% of consumer spending despite being 19% of the population.
- Spending by Gen X has grown 25% since 2020, leading all age groups.
NEW YORK – The so-called Sandwich Generation outpaces all others on consumer spending – especially in home furnishings.
A new research report from the ICSC (International Council of Shopping Centers) found that within the home furnishings category, Gen X leads on spending by a wide margin – outspending Baby Boomers by nearly 80% and spending more than double what Gen Z consumers do.
One Gen X home furnishings transaction is worth 3.1 Silent Generation transactions, 2.4 Gen Z transactions, 1.8 Baby Boomer transactions and 1.0 Millennial transactions, according to the ICSC Gen X report, which covers both online and in-store consumer spending.
“Despite being one of the smallest demographics by size, 45- to 60-year-olds drive the highest value per shopper of any cohort,” the report noted. “Gen X consumers represent just 19% of the population, yet account for 31% of in-store and online spending, and outpace all other generations in revenue per shopper.”
Born between 1965 and 1980, Gen X also has a strong affinity to bricks & mortar, generating the highest in-store revenue per shopper across nearly every retail category. They also spend more at bricks & mortar than they do online – again, outpacing their other generational groups.
“No other generational cohort surpasses this group’s average annual household spending, which totaled nearly $96,000, according to the latest figures from the U.S. Bureau of Labor Statistics,” the ICSC reported. “Since 2020, Gen X has boosted annual expenditures by 25%, exceeding every other adult cohort in spending growth.”
Gen x outspends appears here to highlight key ideas for readers.
