Hipsters — upwardly mobile, college-educated millennials living in enclaves such as Austin, Brooklyn, Oakland, and Portland in US — will spend more this season than consumers overall, an average of $1,670 (versus $1,121). Their laidback vibe combines a grounding in reality with a spirit of adventure, forging their own path quite apart from other consumers.
Recent college graduates flexing their disposable income muscle, hipsters will spend a hefty third of their holiday budget on themselves. Most likely on footwear and apparel; personal and home electronics; and vacation travel.
In fact, they plan to spend twice as much on travel as consumers overall this holiday season. And a vacation is the #1 factor that could curtail their holiday spending, followed by a major life event such as a new job, marriage, or a baby. Other considerations include a new house or car.
Hip to technology, they lead shoppers overall by a 20-point margin in using their mobile devices to find products and deals. In fact, they prefer shopping online (57%)—often via mobile device—rather than going to a store (43%).
For its 2016 Holiday Outlook report, PwC conducted a national survey of 2,300-plus consumers and 200 retailers—and supplemented the survey findings with focus-group interviews of younger consumers aged 14 to 26. A separate survey was conducted of 200+ hipsters to study their habits more closely.
Source: 2016 Holiday Outlook, PwC
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