Millennials lead holiday spending surge, expected to hit $989B, but may face debt risks.

Millennials are expected to be the biggest spenders this holiday season, driven by increased incomes and many being parents of school-age children. Holiday spending is forecast to reach a record $979.5 billion to $989 billion, with the average shopper spending $1,778, an 8% increase from last year. However, the use of credit cards and "buy now, pay later" plans could lead to significant debt if not repaid promptly.

November 24, 2024
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