Generation Y are Australia's most thrifty

Australians in their late teens and early 20s are among the country's most thrifty shoppers, a study has revealed.

A survey by the Australian National Retailers Association (ANRA) found that Generation Y – meaning Aussies aged 18-24 – place greater importance on landing a bargain than older shoppers.

Indeed, the ANRA research found that 53 per cent of 18 to 24-year-olds this year put their shopping on hold until the June sales.

The findings suggest that members of Generation Y may also be more inclined to compare savings accounts in search of the best returns. Margy Osmond, chief executive of ANRA, noted that more young Aussies now expect to receive discounts when they go shopping.

"We're almost seeing a ramping up of a new conservatism among the Gen Y age group," she told the Courier-Mail.

"They've never experienced conditions like we've had for the past 12 to 18 months and it's shaken their confidence. They now equate things being heavily discounted as the norm."

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