5 ways coronavirus is changing millennials' money habits more than any other generation
While those of all generations are concerned about the financial effects of the coronavirus, "millennials' behavior is changing more dramatically than any other generation," Greg Petro, CEO of retail analytics company First Insight, Over half of millennials surveyed said the coronavirus has impacted their purchase decisions — more than any other generation,
published on February 28. It's caused 40% of millennials to say they're cutting back on spending in preparation for coronavirus.Millennials are also cutting back on in-person shopping trips — 39% said they're shopping less frequently in stores, compared to 30% of overall respondents, reported Thomas, citing the
. And 30% said they're shopping more frequently online instead, compared to 21% of respondents across all age ranges. Consider online grocery ordering service FreshDirect, which said it's seeing an increase in orders from both new and existing customers, Thomas reported. "Our data leads us to believe customers are preparing more meals at home, and are consuming more fresh and organic food to stay healthy," Chief Merchandising Officer Scott Crawford said in a statement Thursday.
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