Young consumers might be more cautious in the future
A Colorado State University economist says recent events might change young consumers’ spending habits long-term.
Stephan Weiler tells Brownfield he thinks young consumers will be more likely to hold on to their wallets.
“Young people now have had the great recession and this pandemic in terms of their background,” he said.
Weiler said that’s not something they will forget…
“They saw two pretty big crisis that we had a difficult time handling,” he said.
Weiler said consumer spending won’t fully rebound in the short-term until more information on the impact and length of the pandemic is available.