Key Points:
Experiences Over Products: Consumers are spending more on travel and local experiences while cutting back on buying goods. This is reflected in Groupon's results, where the "Goods" business is struggling.
Why the Shift: Inflation is a key factor, with many consumers across all income levels reducing non-essential spending due to rising prices.
Experiences Remain Popular: Businesses like Groupon (experiences) and Vivid Seats (ticket resale) are seeing growth, highlighting the ongoing demand for experiences.
Generational Trend: Younger consumers, especially Gen Z, are more likely to prioritize spending on recreation and entertainment.
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