We previously chronicled the change of opinion Generation Z kids have had about the economy. We took a long-term view, comparing their 2010 concerns about jobs and the economy to their 2015 views. What we saw was a reflection of the greatly improved economic situation. Now let’s look at data indicating moms of some Generation Z kids who say they plan to spend more.
Let’s make the long-term comparisons with moms of 5-7 year old kids. In 2010, only 19% of moms reported that they planned on spending more on their child than a year ago. In 2015, that number rose to 33%; that’s a 74% growth.
Conversely, in 2010, 30% of moms said they planned on spending less on their child. In 2015, that number is down to 11%; that’s a 63% drop.
These numbers confirm that America’s families are clearly feeling the benefits of the economic recovery. Purse strings that were held tightly have been loosened. This is evident throughout the economy – and bodes particularly well for the industries that thrive when discretionary spending is increased. (See toys, entertainment, vacations, etc).