Young Adults Aren't Buying It

Young adults aren't the consumers they once were. A Demo Memo analysis of Consumer Expenditure Survey data shows older Americans overtaking them as better customers in many important categories. Here is how the average spending of households headed by 25-to-34-year-olds (young adults) compares to the average spending of households headed by 65-to-74-year-olds (old folks) in 2006 and 2013...

Dinner at full service restaurants
2006: young adults spent 16 percent more than old folks
2013: young adults spent 22 percent less than old folks

Groceries
2006: young adults spent 4 percent more than old folks
2013: young adults spent 5 percent less than old folks

Entertainment
2006: young adults spent 9 percent more than old folks
2013: young adults spent 11 percent less than old folks

Women's clothes
2006: young adults spent 18 percent more than old folks
2013: young adults spent 5 percent less than old folks

Personal care products
2006: young adults spent 13 percent more than old folks
2013: young adults spent 8 percent less than old folks

Household furnishings and equipment
2006: young adult spending was the same as old folks
2013: young adults spent 13 percent less than old folks