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American Economy Braces For Onslaught Of Older Millennials, And Their Kids

October 1, 2016: 12:00 AM EST
The fact that Millennials are procreating is having a major impact on almost all industries, from foodservice to auto sales to home buying. There are 70 million Millennials (aged 18 to 35 years), and over the next decade 60 million of them will become parents. They will spend $200 billion annually beginning next year (up from $170 billion) and $10 trillion over their lifetimes. Despite opinions to the contrary, they will begin buying homes and cars, eat out at more healthful restaurants, and begin shopping for kid stuff. The impact is already being seen in restaurants and retail chains. McDonald's, Chick-Fil-A, Wendy's, etc., are getting rid of unwanted ingredients; Target, Walmart, and Kroger are changing their stores to appeal to Millennial moms.
Ashley Lutz, "Everything you know about millennial spending is about to change", Business Insider , October 01, 2016, © Business Insider Inc
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