Young Australians cut back in cost-of-living crisis while older people shop more, data shows

Commonwealth Bank finds over-70s cohort spent 7.7% more from July to September than the same time last yearGet our breaking news email, free app or daily news podcastYoung Australians aged 18 to 29 have cut back the most due to cost-of-living pressures while older people are shopping more, data compiled by Australia’s biggest bank shows.An analysis of the de-identified payments of about 7 million Commonwealth Bank customers, released by the bank on Tuesday, showed the “generational spending gap” between older and younger Australians grew for a second year in a row.Sign up for Guardian Australia’s breaking news email Continue reading...

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Nov 18, 2024 - 10:00
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Young Australians cut back in cost-of-living crisis while older people shop more, data shows

Commonwealth Bank finds over-70s cohort spent 7.7% more from July to September than the same time last year

Young Australians aged 18 to 29 have cut back the most due to cost-of-living pressures while older people are shopping more, data compiled by Australia’s biggest bank shows.

An analysis of the de-identified payments of about 7 million Commonwealth Bank customers, released by the bank on Tuesday, showed the “generational spending gap” between older and younger Australians grew for a second year in a row.

Sign up for Guardian Australia’s breaking news email Continue reading...

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