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Fad consumer stocks and restaurant stocks have benefited from millennial consumer spending, but they save no money and put nothing into the stock market.
Bloomberg reports:
“I’m not saving up to buy anything,” said the 28-year-old engineer, who shares a rented apartment with two flatmates in south London. “I prefer to go out for dinner at a nice place, pay a round at the pub or explore a new area of the world. I feel like I would be losing out on living if I chose to own stuff instead.”
.....A sacrifice for all this fun: savings. With incomes shrinking, only 34 percent of millennials worldwide said they saved enough money each month, according to Nielsen’s 2015 Global Generational Lifestyles survey.
