This episode of Mind The Gen Gap podcast explores the evolving shopping habits across different generations, from Baby Boomers to Gen Alpha. It delves into how each generation's upbringing, economic conditions, and technological advancements shape their shopping preferences. The conversation transitions into the concerning trend of 'doom spending,' where individuals, particularly Gen Z and Millennials, engage in impulsive shopping as a coping mechanism for anxiety about the economy. The hosts discuss the implications of these behaviors and the influence of social media and algorithms on consumer decisions.

Takeaways

Shopping reflects the times we live in.

Generational preferences in shopping are influenced by upbringing.

Economic prosperity and social change impact consumer behavior.

Younger generations prefer online shopping and social media for information.

Doom spending is a coping mechanism for anxiety about the economy.

Algorithms influence what consumers think they need.

Retail therapy has evolved into doom spending in modern times.

Older generations value in-store experiences more than younger ones.

Referral from friends and family is crucial for older generations.

Understanding shopping trends can help improve financial literacy.