Baby Boomers Still Outspend Millennials | Visa


Gray is the new black: Baby boomers still outspend millennials

Wayne Best, Senior Vice President/Chief Economist

Baby boomer consumer spending. Winter 2016.
In 2005, population growth was the highest (nearly 4 percent year-over-year) among those aged 50-59 and lowest among Gen Xers and millennials (at less than 1 percent). However, it is expected that by 2020, most of the population growth will come from those 60+ (at nearly 6 percent), while growth will remain virtually unchanged for Gen Xers and millennials, and decline into negative territory for those aged 50-59.
Bar graph showing differences in aggregate spending between those under 50 and over 50. See Image description.
In 2015, aggregate spending was evenly split between those under 50 and those over 50, but by 2025 it is expected that those over 50 will represent about 52 percent of aggregate spending.
Wayne Best Headshot.

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