Convenience

Millennials place a high value on time and are willing to pay a higher price for convenience in
addition to making their lives easier.

"Ride shares to delivered groceries to meal kits to subscription services to ad-free programming is a
huge reason millennials spend money because we aged into adulthood with the rise of apps for
seemingly everything," says Erin Lowry, millennial money expert and author of "Broke Millennial Takes
On Investing." This isn't to imply that previous generations don't pay for these things, but it does show
that millennials value convenience in new ways."

Shopping on the Internet

Millennials grew up while online shopping took off, and there's nothing like ordering a new pair
of sneakers and having them delivered to your door a day or two later. In fact, according to
CouponFollow's 2019 Millennial Shopping Report, millennials spent 60 percent of their purchases online
last year. However, just because millennials spend more money online does not mean they spend more
money in general.

"Everyone buys toilet paper," says O'Connell Rodriguez, "but millennials are more likely than boomers to
order it from Amazon."

REFERENCES (APA FORMAT)

A Look at How Millennials Spend Their Money. (2020). Retrieved 8 January 2022, from
https://money.usnews.com/money/personal-finance/spending/articles/how-millennials-spend-their-money