Source: Money Under 30
For younger consumers, convenience rules, and Amazon shares part of the blame for making millennials less sensitive to prices.
“We order almost everything via Amazon Prime, with full knowledge that we could get the items cheaper with a bit more effort, but it’s just so easy to order it and expect it in two days or less,” said Priya Malani, a founding partner at financial planning firm Stash Wealth and herself a millennial.
Another danger of e-commerce: drunk shopping. Yes, that’s a thing, and millennials are the generation most likely to shop under the influence, according to Finder.com. Sixty-one percent of millennials admit to this. In comparison, just about half of Gen Xers shop online after they’ve had a few.
“Combined with our ‘you only live once’ [YOLO] mentality, it’s no surprise that we’re poised to be the biggest spenders around the holidays,” Malani said.