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Visa Looking Toward Generational Spending Change

Visa USA, the nation's largest credit and debit card brand, has begun looking toward what it called a generational shift in spending patterns as the purchasing momentum moves from Baby Boomers to younger generations, which Visa identified as Echo Boomers.

By Staff Writer | Updated on July 10, 2007

SAN FRANCISCO — Visa USA, the nation’s largest credit and debit card brand, has begun looking toward what it called a generational shift in spending patterns as the purchasing momentum moves from Baby Boomers to younger generations, which Visa identified as Echo Boomers.

“We are witnessing a watershed moment in our economy’s history as one generation transfers their economic influence to another,” said Wayne Best, Visa’s chief economist. “As Echo Boomers expand as a proportion of the American workforce and mature as consumers, they will continue to spend heavily in service industry retail categories such as restaurants, travel and entertainment.”

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