Millennials are returning to the office
and they're ready to spend their money, according to a recent Citi survey. The bank surveyed customers ahead of launching its most recent Custom Cash Card. Although beauty products
aren't "must have" purchases at the moment, nearly every planned spend represents an opportunity to purchase beauty products. After all, in order to look one's best after isolating for 18 months, there is sure to be pent-up demand for hair care
products, color cosmetics
So what are they ready to buy? Here, the top five categories Millennials are planning to spend on.
Happy hours/socializing with coworkers over food: 44%
Going to live entertainment after work: 36%
Traveling for work: 28%
Running errands around the workday: 23%
Group fitness classes around the workday: 19%
Citi's efforts come as more Millennials may be willing to take on credit. For years, observers noted that debt-laden younger consumers tried to avoid credit card payments. But now, after more than a year of lockdowns, Millennials are more willing to spend money and may be interested in a credit card, or three.