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☆ Millennials Are Raising Pets Instead of Kids. Bad News for Dogs, Cats.
▼ + stars: | 2024-11-07 | by ( Aimee Pearcy | ) www.businessinsider.com time to read: +12 min

The generation is leading the way when it comes to pet ownership — almost a third of US pet owners are millennials. Across the board, more pet owners are splurging on their animals. In its annual surveys, the American Pet Products Association has found that pet owners have reported spending more on things like treats, food, toys, and clothing each year. While some millennial dog owners are forgoing having children, others are using dogs as training for parenthood. Dog owners can't be blamed entirely for the changing behavior.

Persons: Yena Kim, Shiba Inu, Kim, Ralph Lauren, Bodhi, Luc, Hayley Kellard, King Charles spaniel, Paddy, Kellard, they'd, we'd, —, Dogue, Michael Wang, Adriene Wong, Wang, Wong's, Wong, Dash, he'd, Lili, Mark Van Wye, they're, Van Wye, Sean Prichard, Eliza O'Callaghan, She's, she's Organizations: Bodhi, American Pet Products Association, San, Poochie, corgi, Association for, Pant, Foods Locations: Brooklyn, China, San Francisco, York City, Pompano Beach , Florida, New York City

Federal authorities, meanwhile, say their security procedures are sound heading into Election Day, Nov. 5. Its domestic flight bookings are down 19% for the week of the election compared with the same week last year. That has left more room for political jitters to creep into consumers’ travel considerations, travel agents say. That’s partly why Olivia MacLeod Dwinell, 64, and her husband Ross Dwinell, 74, were in Europe this month. Olivia MacLeod Dwinell and her husband, Ross Dwinnell.

Persons: Emily Reeve, “, ”, Reeve, Ed Bastian Delta, Ed Bastian, Delta, they’d, Kamala Harris, Donald Trump, they’re, Kelly Soderlund, Thibaud Moritz, ” Soderlund, Transportation Security Administration “, Jeffrey Price, Olivia MacLeod Dwinell, Sonia Bhagwan, Ross Dwinell, Dwinell, Ross’s, “ We’re, ” Kimberly Kracun, Kimberly, Ross Dwinnell, Olivia MacLeod Dwinell “, ” Kracun, Chirag, Panchal Organizations: Federal, Delta Air, Ed Bastian Delta Air, CNBC, United Airlines, AFP, Getty, Republican, Trump, Transportation Security Administration, ” Flyers, MMGY Travel Intelligence, Future Partners, Baby Boomers, Chirag Panchal, Dallas Locations: Hawaii , Florida, Portland , Oregon, U.S, Navan, Portland, Europe, London, France, Harpers Ferry, West Virginia, Dallas

☆ Feeling the pinch, groceries become a 'splurge' for millennials and Gen Z
▼ + stars: | 2024-10-12 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +3 min

Younger generations spend more on groceries than other categories, a McKinsey report says. The firm asked over 4,000 people, from baby boomers to Gen Zers, about the categories they intend to splurge on this year. Groceries ranked highest for millennials and Gen Zers, outpacing restaurants, bars, travel, beauty and personal care, apparel, and fitness. It's a notable shift from 2018 when older generations like baby boomers and Gen Xers still spent more on groceries than millennials. It surveyed baby boomers to Gen Zers, not baby boomers to Gen Xers.

Persons: Moodys, —, Splurging, what's, Gen Zers, It's, Gen Xers, Zer, Peter Pham, Pham, Moody's Organizations: McKinsey, Service, McKinsey & Company, millennials, Forbes

☆ Here's what's on Gen Z's 'micro-spending' wish list
▼ + stars: | 2024-10-09 | by ( Jordan Hart | ) www.businessinsider.com time to read: +5 min

Gen Z is choosing "micro-spending" over traditional financial milestones, analyst Riani Kenyon said. AdvertisementTwenty-somethings are ditching traditional financial milestones in favor of filling their wish lists with more instant forms of gratification. Gen Z is collecting trinketsSonny Angel dolls have become a hit with American Gen Zers. Related storiesThey're adhering to trendsHailey Bieber, a trendsetter for Gen Z, has many lining up to buy her beauty brand. RhodeAs the TikTok For You Page refreshes, so do the hot new items that Gen Zers must have.

Persons: Riani Kenyon, —, Ellyn Briggs, Meredith Whitney, Gen, Kenyon, Angel, Zers, Edmond So, Z, Sonny Angel, Sonny Angel unboxing, Hailey Bieber, Briggs, Gen Zers, Shawn Owens, Hailey Bieber's, It's, Owens, Stanley, Megan Willett, Owala, Todd Owyoung, Gen Z, That's Organizations: Service, Financial, American Express, China Morning, Getty, Dreams USA, Rhode, Wei, NBC Locations: TikTok, Hailey Bieber's Rhode

The Shark FlexStyle is an easy-to-use tool for creating a long-lasting blowout right at home. This one normally costs $319.99, but during Amazon Prime Day, it's $80 off at $239.99. ), there's no sense in waiting any longer — capitalize on the Amazon Prime Day sale, and you can have bouncy at-home blowouts without blowing your budget. The Shark FlexStyle isn't the only great deal available during Amazon Prime Day this year. Check out our roundup of all of the best Prime Day deals, or browse Amazon's website for the full selection.

Persons: Dyson, There's, it's, Watson Anthony, Airwrap, Remi Rosmarin, Rosmarin, We've Organizations: Business, Amazon Prime, Deal, Amazon, Crest

☆ I own a collection of over 100 perfumes. Here are 3 red flags I look out for when shopping for fragrances.
▼ + stars: | 2024-10-02 | by ( Eliza Partington | ) www.businessinsider.com time to read: +4 min

I own over 100 perfumes and have learned what things to look out for when shopping for fragrances. I'd steer clear of secondhand sellers who appear to have a large inventory of expensive perfumes. As someone who has a collection of over 100 perfumes, I've encountered my fair share of red flags when shopping for fragrances in person and online. From secondhand sellers to irregular packaging, here are the things I always look out for when shopping for perfume. Beware of secondhand sellers with large collections of expensive perfumesI suggest checking the seller's other listings to see if they have a suspiciously large collection.

Persons: —, Chris Hellier, Kristina Strasunske, Maison Francis Kurkdjian's, it's Organizations: Service

☆ This $1,400 luggage is the hottest quiet status symbol for celebrities and wealthy travelers. The more beat up it looks, the better.
▼ + stars: | 2024-09-18 | by ( Brittany Chang | ) www.businessinsider.com time to read: +10 min

If you don't recognize the brand's name, you might know its iconic grooved aluminum luggage. LVMH acquired the now-126-year-old German company in 2016Hugues Bonnet-Masimbert, CEO of Rimowa, told BI that the company's buyers are split evenly between male and female. Brittany Chang/Business InsiderRimowa gave rise to two of the largest hard-shelled luggage trends when it debuted its aluminum luggage in the 1920s and its polycarbonate options eighty years later. (Hugues Bonnet-Masimbert, CEO of Rimowa, told BI that the company is constantly monitoring and improving its quality.) Brittany Chang/Business InsiderJust don't bring your luggage in for repairs when it inevitably gets scuffed up.

Persons: —, John Baptist's, he's, Martha Stewart, Rodger Federer, Billie Eilish, Baptist, John Baptist It's, LVMH, Hugues Bonnet, Brittany Chang, Louis Vuitton, Tiffany, Bernard Arnault's, Rimowa, they've, Tania Antonenkova, Tania Antonenkova Tania Antonenkova, Birkin, she's, Antonenkova, Carter Smith, Smith, doesn't, Haines, Masimbert, Vanessa Garoute, Garoute, Vanessa Garoute Garoute, — she's, you'll, Jane Birkinifying Organizations: Service, Business, York City Locations: Los Angeles, China, Europe, Asia, North America, Germany, Miami, Vegas, France, Rimowa's, York

☆ 3 money mistakes even accounting professionals make, according to a personal finance expert who worked at EY and PwC
▼ + stars: | 2024-09-17 | by ( Charissa Cheong | ) www.businessinsider.com time to read: +7 min

I started my career as a solicitor and worked at PwC as part of their legal team in the UK. From my early days at PwC, I felt Big Four businesses operate super efficiently and do fantastic work. We work with organizations to support their early career talent, providing them with training on navigating uncertainties around personal financial literacy and how businesses work. When you're working at Big Four companies, there are all sorts of rules and regulations about the types of investments you're allowed to make because of audit restrictions. I recommend that early career professionals talk to their peers about what works for them from a personal finance position.

Persons: —, Carla Hoppe, I've, who've, overspending, PwC, I'd, isn't, Gen Zers Organizations: Service, Big, Business, EY Locations: PwC

The menu description for the $52 Caviar Martini included Grey Goose, toasted rye, white peppercorn, dolin blanc, bitters, and 14 grams of caviar. Monkey Bar, New York City: $34The Monkey Bar Martini at Monkey Bar in New York City. The restaurant offers various options — including a $74 Añejo Negroni — but we tried the $34 Monkey Bar Martini. Ordering the Ocean Martini is an experience that invites guests to expand their pallets. Given the pour size and the snack, we'd say the price for the Ocean Martini is worth it.

Persons: —, Trevin Hutchins, Dante, Kelsey Vlamis, Martini, Grey, Lloyd Lee, Nicoulai, Aphotic, Hutchins, Lauren Edmonds, Marlon Brando, couldn't, Bar, Frasco, Gibson, Bobby Murphy, Murphy, kombu, Scrooge, he's, I'm Organizations: Service, Business, Beverly Hills, Michelin, Monkey, Museum of Metropolitan Art, ILIS, Wine, Grub, ILIS's Locations: Francisco's, Los Angeles, San Francisco, New York, Dante, Beverly Hills, West, New York City, Beverly, Los, Boston, Aphotic, , New York City, Manhattan, Elysée, Kyoto, Japan, ILIS

☆ A millennial couple who make $250,000 say they can't find a home in their budget: 'We refuse to become house-poor'
▼ + stars: | 2024-08-11 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +6 min

They want to keep their monthly mortgage payment between $3,000 and $3,500 — or around 30% of their monthly take-home income of about $11,000. However, rising home prices and mortgage rates in recent years have made this goal difficult to accomplish. "We refuse to become 'house-poor' and, like many others, are choosing to sit it out until the housing market is reasonable again," Laura said. With an 11% downpayment, they estimated their monthly mortgage payment would be about $5,000 — about 43% of the couple's take-home monthly pay. AdvertisementGoing forward, Laura said they plan to continue monitoring the housing market for a home they like that's in their budget.

Persons: —, Laura Graves, Samuel, they'd, Laura, they've, they're, it's, There's, Samuel aren't, We'll Organizations: Service, Business, Federal, Housing Locations: Portland, Wilsonville , Oregon, Wilsonville, Spokane , Washington

☆ Insider Today: A shot to reverse aging
▼ + stars: | 2024-08-10 | by ( Joi-Marie Mckenzie | ) www.businessinsider.com time to read: +7 min

On the agenda:This story is available exclusively to Business Insider subscribers. AdvertisementVeronica Thatcher, who's worked at Costco for 18 years, told Business Insider she also spotted "Halloween- and harvest-themed decorative pillows" in the big-box store this month. According to eMarketer, Lowe's made Halloween merch available online on June 1 and it'll be available IRL on August 23. iStock; Rebecca Zisser/BIWealthy patient, healthy jointsIt's hard to slow down aging, but the wealthy are giving it their best shot, literally. More of this week's top reads:The Insider Today team: Jordan Parker Erb, editor, in New York.

Persons: —, I'm, Chelsea Jia Feng, you've, Veronica Thatcher, who's, Mike Booth, prepping, eMarketer, Lowe's, Taylor Rains, Insider's Taylor Rains, Beond, Rebecca Zisser, Bryan Johnson, — Johnson, Edward Berthelot, Burberry, Natalie Ammari, they've, Kit Harington, Oscar, Anthony Hopkins, Jordan Parker Erb, Dan DeFrancesco, Lisa Ryan, Amanda Yen Organizations: Service, Business, Retailers, Costco, CFVR, Home Depot, Burberry, US, HBO, Paramount, Showtime Locations: Alberta, Canada, Michaels, Italy, Maldives, Dubai, Bahamas, British, London, Nazi, New York, New York City

☆ I flew on a new all-business-class airline from Italy to the Maldives. It's worth splurging for, even with the odd fuel stop.
▼ + stars: | 2024-08-06 | by ( Taylor Rains | ) www.businessinsider.com time to read: +1 min

A new Maldives-based airline called Beond launched in 2023 with an all-business-class Airbus A319. I flew the airline, and while it faces hurdles, it has a great product that is cheaper than competitors. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . The Maldives-based carrier launched in November and has one single plane flying to the nation's capital, Male, from cities like Zurich and Riyadh, Saudi Arabia.

Persons: —, you've Organizations: Beond, Airbus, Service, Business Locations: Maldives, The Maldives, Zurich, Riyadh, Saudi Arabia

☆ 8 weird status symbols across the country, from $150,000 dogs to $10 tomatoes
▼ + stars: | 2024-08-04 | by ( Kelsey Vlamis | Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +1 min

Surprising status symbols are popping up throughout the US, including dogs that cost six figures. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementWhen it comes to status symbols, you typically know one when you see it. But status symbols that may be a lot less obvious seem to be increasingly popping up across the US. From dogs that go for six figures and summer camps that set parents back thousands, here are eight of the most surprising status symbols people are splurging on.

Persons: —, Hermes Birkin Organizations: Hamptons, Service, BMW

☆ Why Americans are snubbing McDonald’s and Starbucks
▼ + stars: | 2024-07-31 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

New York CNN —On the surface, it looks like Americans are laying off the Big Macs, booze and even — gasp! On Monday, McDonald’s reported sales fell 0.7% in the US from the same period in 2023. The once reliably cheap McDonald’s pushed its prices up, while sit-down restaurants leaned into value and convenience. Applebee’s, for one, made a direct pitch to the hordes of ticked-off McDonald’s customers who felt the chain had abused its pricing power. Now, McDonald’s is trying to win back poorer customers while appealing to more affluent customers who want something new.

Persons: CNN Business ’, McDonald’s, Johnny Walker, It’s, it’s, they’re, ”, RJ Hottovy, Jonathan Maze, I’m, —, Chili’s, “, Taylor Swift Organizations: CNN Business, New York CNN, Starbucks, Diageo, Restaurant Business, Dine Brands, CNN Locations: New York, United States, North America, Texas, Paris

☆ 'I just wanted to take a break:' Some early-stage founders are putting their startup dreams on hold in the tech downturn to try corporate life
▼ + stars: | 2024-07-24 | by ( Ben Bergman | ) www.businessinsider.com time to read: +6 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewMehak Vohra has been a startup founder ever since she dropped out of college in 2016. But earlier this year, she shut down Skillbank and joined a bigger tech company as its head of marketing. That has early-stage startup founders who founded companies during the free-flowing boom cycle that ended in 2022 rethinking whether they want to be founders after all. I have a much bigger social life now, and I don't feel bad about going out."

Persons: —, you've, Ishita Arora, Arora, Jacek Prus, Prus, Sri Chandrasekar, Chandrasekar, I've Organizations: Service, Jamocha Media, Business, Instrumentl, Animal, Point72 Ventures Locations: San Francisco

The information for the following product(s) has been collected independently by Business Insider: Marriott Bonvoy Bountiful™ Card, Marriott Bonvoy Boundless® Credit Card, Marriott Bonvoy Bold® Credit Card. How to earn rewards from the Marriott Bonvoy Bountiful cardLike other Marriott cards, the Marriott Bonvoy Bountiful™ Card earns the most points on spending at participating Marriott Bonvoy properties, but it also has a generous earning structure in other categories. Marriott Bonvoy Bountiful card benefits and featuresMarriott Bonvoy Gold elite statusMarriott Bonvoy Bountiful™ Card primary cardholders receive Marriott Gold elite status automatically for as long as their card is open and in good standing. Most folks will do perfectly fine with the moderately priced Marriott Bonvoy Boundless® Credit Card or Marriott Bonvoy Business® American Express® Card, or even the no-annual-fee Marriott Bonvoy Bold® Credit Card . And if you have or have had any of the following cards in the past 90 days, or have received a new cardmember bonus or upgrade bonus from one in the past 24 months, you're also not eligible: Marriott Bonvoy Business® American Express® Card, Marriott Bonvoy Bevy™ American Express® Card, Marriott Bonvoy Brilliant® American Express® Card, Marriott Bonvoy® American Express® Card, Starwood Preferred Guest® Credit Card from American Express, Starwood Preferred Guest® Business Credit Card from American Express, or Starwood Preferred Guest® American Express Luxury Card.

Persons: it's, You'll, splurging, DoorDash, DashPass, you've Organizations: Business, Marriott, ™, Marriott Bonvoy, American Express, Hilton, ™ Card, Card, Starwood Locations: Marriott, Marriott Bonvoy, U.S, Bountiful, DoorDash, There's

Threshold Performance Sheet Set (Queen) Target's affordable Threshold sheet set is soft and holds up over time so you won’t have to worry about pilling or shrinking. Check price at Target What we like Check mark icon A check mark. The Threshold sheets feel soft to my skin while I'm dozing off and I've found myself sleeping throughout the night better since getting them. This sheet set has performance-level fabric, and while I've found them to be resistant to pilling and shrinking, they do wrinkle. Before switching to Threshold sheets, I used Brooklinen Sateen Sheets for about seven years.

Persons: you've, Rebecca Shinners, I've, Brooklinen, I'd Organizations: Business, Brooklinen Locations: California, New York City

Introduction to Chase Ultimate Rewards®The Chase Ultimate Rewards® rewards program is frequently considered one of the top credit card point systems available today — and for good reason. Earning Chase Ultimate Rewards pointsThe only way to earn rewards in the Chase Ultimate Rewards ecosystem is to open and use a Chase card that operates within this program. Redeem points for experiences (point values vary)You can also use Chase Ultimate Rewards points to book special experiences, including one-of-a-kind events hosted by Chase. Chase Ultimate Rewards frequently asked questionsAre Chase Ultimate Rewards worth it? Chase Ultimate Rewards is a versatile and highly regarded rewards program offered by Chase Bank.

Persons: Chase, Chase Travel ℠, takeout, you've, Here's, you'll, cardholders Organizations: Business, Read, Chase, Chase Travel, Sapphire, Hotel, FDIC, Chase Sapphire, TSA, PayPal, Chase Sapphire Reserve, Ink, Sapphire Reserve, Aer Lingus Air Canada Aeroplan Air France, KLM, British Airways Emirates Hyatt, Singapore Airlines Southwest United Virgin, United Airlines, Star Alliance, Air Canada, Lufthansa, Singapore Airlines, British Airways, Oneworld, American Airlines, Cathay, Air France, Blue, Korean, Sundance Film, Apple, Navy, TAP Air Portugal, Southwest Airlines, Canada, IHG, Bonvoy, Hyatt, Marriott, Chase Bank Locations: Chase TravelSM, airfare, Hyatt, Iberia, Air, Delta, Milan, Italy, Chase, Caribbean, Mexico, Europe, Amsterdam, Paris, Singapore, West Coast, Asia, IHG.com, Hawaii, Florence, Grand Cayman, Bora Bora, Greece, Chevron

☆ This Gen Zer traveled to 10 countries in 3 years. Here's how she did it while earning $25 an hour.
▼ + stars: | 2024-07-20 | by ( Jordan Hart | ) www.businessinsider.com time to read: +6 min

Read previewWaiting tables a few months at a time is enough for Celeste Cox to fund her travels to bucket list destinations. The 26-year-old has been to 10 countries since embarking on what she intended to be a gap year in 2021. She's managed to do all of it by working as a waitress in New York City in between her adventures. She prefers Latin American countries since she speaks Portuguese and Spanish, and US dollars typically stretch further in those places. Advertisement"These travels have taught me so much about life and have really given me so much life experience," Cox said,

Persons: —, Celeste Cox, She's, Cox, Dominican Republic —, I'd, Celeste Cox Cox, Zers, Worldpackers, it's, she's, Z, I've, they're, It's Organizations: Service, Business, Hunter College, BI Locations: New York City, touristy, Puerto Rico, Dominican Republic, Brazil, Colombia, Italy, Workaway, it's, America, Sardinia

☆ AmEx lifts 2024 profit forecast on robust spending by affluent customers
▼ + stars: | 2024-07-19 | by ( ) www.cnbc.com time to read: +1 min

Credit card giant American Express raised its full-year profit forecast on Friday, as its wealthy customers persisted in splurging on travel, dining and entertainment. The company also reported better-than-expected second-quarter profit, underscoring the benefit it has enjoyed by focusing on a premium customer base. The company sees its 2024 earnings per share between $13.30 and $13.80, versus the $12.65 to $13.15 range it had forecast earlier. In the second quarter ended June 30, profit was $3.02 billion, or $4.15 per share, 39% higher than a year ago. Shares of the New York-based company fell 2% in premarket trading.

Persons: Stephen Squeri Organizations: American, Revenue Locations: Des Plaines , Illinois, splurging, York, Squarespace

☆ Amazon Prime Day drives U.S. online sales to record $14.2 billion
▼ + stars: | 2024-07-18 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +2 min

An Amazon contract worker pulls a cart of packages for delivery in New York, US, on Monday, April 22, 2024. Online spending in the U.S. surged 11% year over year to $14.2 billion during Amazon 's 48-hour Prime Day event, topping estimates and setting a new record, according to Adobe Analytics. Amazon's Prime Day event, which ran Tuesday and Wednesday, has become a big revenue driver for other retailers, which often hold competing sales timed around Prime Day. Amazon said Thursday it also saw "record-breaking" Prime Day revenue, though it didn't disclose total sales from the event. WATCH: Prime Day is a big marketing event for Amazon

Persons: Amazon, Rufus, Amanda Schoenbauer Organizations: Amazon, Adobe Analytics, Adobe, Shoppers Locations: New York, U.S

☆ Inside evolving FIFA 2026 World Cup plan to cash in on the rise of high-end sports tourism
▼ + stars: | 2024-07-18 | by ( Ian Thomas | ) www.cnbc.com time to read: +3 min

FIFA selected On Location to be the exclusive hospitality provider for the event, which will take place from June 11 to July 19, 2026. It will be the largest World Cup ever held, hosted across 16 cities in the three countries and featuring 104 matches from 48 teams. "In the United States there's a big demand for unique experiences and curated moments — sports tourism is booming," Jernigan said. Roughly seven million tickets are expected to be available for the 2026 World Cup, and approximately one million premium tickets will be sold as part of hospitality packages. "We think the World Cup is the ultimate expression of the sport and it'll be an incredible opportunity for the fans to experience it — we can give them something that's never been done before."

Persons: Taylor Swift, CCO Scott Jernigan, Jernigan, Jay Berhalter, Berhalter, that's Organizations: CCO, FIFA, NFL, Super, Endeavor, NCAA, UFC, MLB, IOC, Olympic Games, Games, Major League Soccer, MLS Locations: Europe, North America, U.S, Canada, Mexico, United States, Paris, Los Angeles

☆ These kinds of businesses are driving a surge in US corporate bankruptcies
▼ + stars: | 2024-07-14 | by ( Bryan Mena | ) edition.cnn.com time to read: +8 min

In the meantime, you can stay up to date on the latest business news with CNN’s Business Nightcap newsletter. Access to credit is especially crucial for small, private businesses that aren’t able raise money through financial markets. “There were a number of programs out there to support small businesses during the depths of the pandemic, and there were relatively fewer filings than usual in 2021 and 2022.”Rising corporate bankruptcies could just reflect a lot of churn occurring in Corporate America, Jamner said. Don’t panicMost banks offer free checking if, for instance, customers have their paycheck direct deposited or they maintain an average minimum balance, reports my colleague Jeanne Sahadi. Marianne Lake, the head of Chase Bank, told the Wall Street Journal last week that Chase might stop offering free checking and other free banking services.

Persons: It’s, ” “, Matt Rowe, Josh Jamner, Jamner, we’re, Reena Aggarwal, “, ”, Banks, Jeanne Sahadi, Marianne Lake, Chase, Jaret, Read, Goldman Sachs, Jerome Powell, Mary Daly, Morgan Stanley, Charles Schwab, Adriana Kugler, Johnson, Kinder Morgan, Tom Barkin, Lorie Logan, Michelle Bowman, John Williams, Raphael Bostic Organizations: CNN’s Business, Washington CNN —, P Global Market Intelligence, CNN, Federal Reserve Bank of Kansas, Nomura Capital Management, Consumer, Institute for Supply, P, ClearBridge Investments, ”, Corporate America, Federal, Fed, Georgetown University Psaros Center, Financial Markets, Chase Bank, Wall, TD Securities, BlackRock, San Francisco Fed, Bank of America, PNC, State, US Commerce Department, US Labor Department, National Association of Home Builders, Johnson, US Bancorp, Discover, Vegas Sands, Northern Trust, Citizens, United Airlines, National Statistics, Federal Reserve, Richmond Fed, Netflix, Novartis, Abbott Laboratories, Marsh, Blackstone, Infosys, Cintas, T Bank, Nokia, American Airlines, European Central Bank, American Express, Fifth Third Bancorp, AutoNation Locations: Federal Reserve Bank of Kansas City, Corporate, UnitedHealth, Wells Fargo, Vegas, Equifax, Northern, McLennan, Schlumberger, Haliburton

☆ There are 3 new types of fintech consumers. Here's who they are and what they want from their banking experience.
▼ + stars: | 2024-07-03 | by ( Sponsor Post | Sponsored Visa | ) www.businessinsider.com time to read: +6 min

Relevance to this demographic starts with understanding the subtle nuances among these three different groups of fintech consumers. Fintech Pioneers: the big spendersYoung affluent consumers are embracing a variety of payment methods, from cryptocurrency accounts to cross-border payment accounts. The technology revolution in banking lets these "Fintech Pioneers" accrue benefits and manage their finances in an efficient way that doesn't disrupt their lifestyles. They don't want to constantly vet new fintech solutions, or risk encountering technical glitches that can jeopardize their finances. The combination indicates their embrace of age-old exchange methods while still being open to fintech and new payment methods.

Persons: Fintech isn't, it's, aren't, They're Organizations: Fintech, Tech, Visa's, Insider Studios, Visa

☆ China's young people are 'revenge saving' even as Gen Zers around the world are piling up debt
▼ + stars: | 2024-07-02 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +1 min

Post-pandemic revenge spending is still continuing, but in one part of the world there's something starkly opposite happening — revenge saving. Rather than splurging on impulsive purchases, China's young are saving ferociously as the world's second-largest economy remains in the doldrums. Revenge saving has become a trend on Chinese social media websites, with Chinese youth setting extreme monthly saving targets. "Chinese youth have a revenge savings mentality," said China Market Research Group's Managing Director Shaun Rein. "Unlike youths in the 2010s who often spent more than they earned and borrowed money to buy fancy items like Gucci handbags and Apple iPhone, young Chinese have started saving more," he told CNBC.

Persons: Zhai Zhai, Shaun Rein, Gucci Organizations: Research, CNBC Locations: China

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