Six months into the pandemic we see that it is a historic life changing event. As a group, affluent consumers are better insulated against crisis, quicker to bounce back from economic downturns and generally more optimistic. However, the pandemic has exposed a sharp generational divide. Many Millennials in the U.S. should be entering their peak earning years. Instead, the combination of the 2008 financial crisis and coronavirus is a “double blow” that could amount to a permanent setback to the world views of younger generations.
In this paper, we highlight why the younger generation, even those who are affluent, are acting differently now and see the future differently. Given that younger generations will shape the post-pandemic world, it is critical to monitor their changing sentiments.