Millennials and Gen Z consumers present a multi-billion dollar market that increasingly more brands are trying to appeal to through social media, where a TD Cowen report found most of them are finding value in their purchasing power. John Kernan, TD Cowen Managing Director of Retail and Consumer Brands, joins Yahoo Finance anchors Akiko Fujita and Rachelle Akuffo to discuss these generations’ spending habits, how they’ve changed over time, and how certain companies have utilized their digital presence to capture their attention. “Inflation and interest rates have skyrocketed. It’s changed the economy fundamentally and it’s changed consumer budgets. It has changed comfort levels, it’s changed animal spirits in terms of how much and where people want to spend,” Kernan explains. “Value really resonated in the survey this year and consumers looking to cut spending also showed big increases at very high levels.” For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
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