Spending Chill Hits Young Shoppers as Brands Eye New Tricks

You’ll find them on TikTok, but their dollars are in hiding. Gen Z and Millennials — once economic heavyweights — are spending less as student debt, flat wages, and soaring insurance bills bite into wallets. Now, brands built on these young buyers are feeling the pinch, leading to double-digit stock plunges.

• Dining has taken the hardest hit, with chains like ChipotleCMG
  and Dutch BrosBROS
  watching their shares sink by up to 47% this year as younger eaters opt for home-cooked meals.
• They’re joined by Crocs’CROX
  29% crash as impulse buys dry up — while MarriottMAR
  stays afloat by catering to luxury spenders amid falling demand for budget travel.

What stands out: PwC found Gen Z reduced their spending by 13% early this year, but not all dollars are off the table. While 79% wait for sales, nearly half buy private labels, and “dupes” are top picks for holiday shopping. With most buyers focused on emotional, social, and experiential value, savvy retailers are creating scarcity with limited-edition drops. Still, with $12T in spending power on the horizon, that’s one future flex worth chasing.