US students and high inflation: Sector report

A person with short, bright pink hair stands outdoors, partially covering their mouth with their hand. They are wearing a grey and black shirt and a ring on their index finger.
Published by
Izzy Hall
Published on
June 13, 2024
Last updated
June 13, 2024
A 3D spring illustration

US students and high inflation: Sector report

A person with short, bright pink hair stands outdoors, partially covering their mouth with their hand. They are wearing a grey and black shirt and a ring on their index finger.
Published by
Izzy Hall
Published on
June 13, 2024
Last updated
June 13, 2024

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Gen Z hasn’t had an easy few years - they’ve experienced wars, climate change, and pandemics. For better or for worse, they’ve 
grown up with social media at their fingertips. And now, to top it all off, they’re navigating early adulthood amidst rising inflation rates.

How is high inflation impacting students?

In 2023, we saw young people struggling to pay for necessities, let alone luxuries. Students were wary of their outgoings and many were concerned about the impact this financial uncertainty may have on their credit ratings, education, long-term careers, and the housing market.  

  • 97% of students feel like they’re struggling more with inflation than people think 
  • 45% look for student discounts every single time they make a purchase 
  • 41% plan to reduce their utilities to keep bills low 
  • 25% are having to ask friends or family for financial support 

But what about now, in 2024? How are their attitudes impacting Gen Z’s spending habits? And how does this impact the world of youth marketing?

We explore the impact of inflation on students’ spending power‍

In this report, we take a deep dive into the data, exploring student spending habits across five key sectors: travel, food and drink, health and beauty, tech, and fashion.

We also look at how brands 
can continue to tap into the student market, despite high inflation.