Business
Holiday spending, especially by Gen Z, is expected to drop this year, survey says
Shoppers at the Walmart Supercenter in Burbank during Walmart’s multi-week Annual Deals Shopping Event in Burbank Thursday, Nov. 21, 2024.
Allen J. Schaben | Los Angeles Times | Getty Images
Holiday shoppers expect to trim the tree and their spending this upcoming season, according to a survey by consulting firm PwC.
Across generations, consumers said they plan to spend an average of $1,552 on holiday gifts, travel and entertainment — which represents a 5% drop from the planned holiday spending average in the year-ago period.
Yet the sharpest decline comes from Generation Z, whose members said they plan to spend 23% less on average than a year ago. That’s the biggest drop of any generation and a significant swing from last year when they said they expected to spend 37% more. Their pullback is also contributing to the overall decline in holiday spending.
“Price is Gen Z’s love language,” said Ali Furman, the U.S. consumer markets industry leader for PwC. “They’ve been raised in an era of rising costs. They’re laser-focused on value and cost transparency. For them, dupes aren’t a downgrade. They’re proof of smart shopping.”
For retailers, Gen Z customers — who span in age from 13 to 29 and have an average age of 22 — are both an opportunity and a challenge, Furman said. As they enter adulthood, they tend to have smaller salaries, new expenses and debt to pay down, she said. Plus, she said, they are experience-driven, often prioritizing concert tickets, hotel stays and plane trips over buying new items, and they’re feeling the pinch as those experiences cost more.
“Entertainment and vacations are taking up more of their wallet than they have, and therefore they have less to spend on holiday,” Furman said.
It’s also been hard for retailers to keep up with young shoppers, who “are the fastest generation to adopt trends and abandon trends,” she said.
For retailers, the survey’s findings highlight the uncertain backdrop for a holiday season that could be shaped, at least in part, by price sensitivity as companies debate how much to absorb and pass on higher tariff costs.
All other generations’ holiday spending expectations were roughly flat compared with a year ago — with the exception of baby boomers, who plan to spend 5% more on average, according to PwC’s survey, which included a representative sample of 4,000 U.S. consumers and was conducted in late June and early July.
Consumers who have already grown weary of the rising cost of living, such as higher utility bills, are also wary of potential price increases from higher tariffs, Furman said. That’s made shoppers pay closer attention to price tags and intensified their resolve to delay or shop early to get the best deal, she said.
“It’s not necessarily the tariffs themselves that are driving sentiment and behavior,” she said. “It’s the threat prices may go up, and people have a consciousness around that.”
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PM Modi says the global chip market is expected to grow from the current $600 billion to over $1 trillion in the coming years, and India would capture a significant share of it.
Prime Minister
Narendra Modi
attends the SemiconIndia Exhibition 2025 at Yashobhoomi, Delhi.
Prime Minister Narendra Modi on Wednesday attended the second day of the SEMICON India 2025 event at Yashobhoomi (India International Convention and Expo Centre), Delhi. PM Modi also examined a nanochip at the event.
PM Modi inaugurated the event on Tuesday, where he said the global semiconductor market is expected to grow from its current value of $600 billion to over $1 trillion in the coming years, and expressed confidence that India would capture a significant share of this growth.
He described chips as the “digital diamonds” of the 21st century, in contrast to the “black gold” of oil that shaped the previous one. He highlighted the rapid progress since the launch of the Semicon India program in 2021, with 10 semiconductor projects now underway with a total investment exceeding $18 billion.
PM Modi emphasised that the government is focused on speed, stating, “the shorter the time from file to factory, and the lesser the paperwork, the sooner wafer work can begin.” To achieve this, the National Single Window System has been put in place to streamline approvals.
He also noted that semiconductor parks are being developed across the country under a plug-and-play infrastructure model to offer essential facilities like land and power. These efforts, combined with incentives, are designed to attract more investment and talent.
He said the world trusts India and is ready to build the semiconductor future with the country.
PM Modi remarked that when such infrastructure is combined with incentives, industrial growth is inevitable. Whether through PLI incentives or Design Linked Grants, India is offering end-to-end capabilities. This is why investment continues to flow in, he emphasised.
On Tuesday, Union IT Minister Ashwini Vaishnaw also presented the Vikram 32-bit processor, developed by Isro’s Semiconductor Lab, along with test chips from four approved projects.
Vaishnaw said, “This is a year, 2025, in which many dreams are coming true. On September 2, the Prime Minister was presented with the first made-in-India chip made by CG SEMI. Three more pilot lines are almost on the verge of completion in the next few months. Our design and talent building capabilities have come up very well. On September 2, we presented the 20 chips designed by students and manufactured at our SCL Mohali facility. On September 2, the flagship event witnessed the convergence of all critical stakeholders of the semiconductor ecosystem including Equipment manufacturers, chemical manufacturers, gas manufacturers, and material manufacturer and that that shows the scale at which we are growing and the confidence the world has on India’s semiconductor journey.”
Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris h…Read More
Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris h… Read More
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Business
Vikran Engineering IPO Sees Muted Listing, Stock Lists At 2% Premium: Should You Buy, Sell Or Hold?
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Vikran Engineering IPO Listing: The stock lists at a premium of around 2% at Rs 99 apiece on the NSE, compared with the IPO issue price of Rs 97.
Vikran Engineering IPO Listing.
Vikran Engineering IPO Listing: Vikran Engineering Ltd made a muted stock market debut on September 3. The stock was listed at a premium of around 2% at Rs 99 apiece on the NSE, compared with the IPO issue price of Rs 97. However, the stock declined into the red and traded down by 2.32% at Rs 94.7 apiece as against the issue price.
The stock had risen in the morning immediately after the listing and hit the day’s high of Rs 101.77 apiece on the NSE, which was 4.5% higher than the IPO price, before plunging into the red.
On the BSE, the stock opened at Rs 99.7 apiece, which is 2.78% higher than the issue price. The stock is currently trading in red, down by over 2.5%.
The company’s market capitalisation (mcap) stood at nearly Rs 2,600 crore.
The initial public offering (IPO) of Vikran Engineering Ltd was open between August 26 and August 29. It received a strong overall subscription of 24.87 times.
Vikran Engineering IPO Listing: Should You Buy, Sell Or Hold?
“Vikran Engineering Ltd made a modest debut on the stock market with a listing gain of about 2.7% over its issue price of Rs 97, opening at around Rs 99.70. The company operates as a leading EPC player in power transmission, water infrastructure, and railway electrification projects with an asset-light model and a strong execution track record,” said Shivani Nyati, Head of Wealth at Swastika Investmart Ltd.
It enjoys robust growth visibility backed by a Rs 2,442 crore order book, supported by government infrastructure spending, she added.
“Investors are recommended to hold their holdings with a stop-loss near Rs 89 to safeguard against volatility, as execution of the strong order pipeline could drive medium-term upside,” Nyati said.
Brokerage firm Master Capital Services in its note said the Vikran Engineering IPO had a debut with a muted listing performance. The stock opened at Rs 99.70, offering a slight premium of 2.7% over its issue price of Rs 97. The IPO saw solid demand, with an overall subscription of 24.87 times, led by exceptional non-institutional buyer interest (61.77x).
Vikran has a good growth opportunity in the infrastructure space, is in demand with a healthy order book and a good execution model with a diversified order book of Rs 24,424 crore as of June 30, 2025, and has a pan-India presence in 16 states. It also has good advantages from government initiatives like the Jal Jeevan Mission and the Revamped Distribution Sector Scheme (RDSS), it added.
“While the current valuation appears to be stretched and cash flow issues remain a concern, the solid running history of execution and a good order book provide a positive long-term outlook on patience for investors,” Master Capital Services said.
The IPO is a mix of fresh issue of shares of about Rs 721 crore and an offer-for-sale portion worth Rs 51 crore by the promoter.
The Mumbai-based company intends to utilise proceeds from the fresh issue to the tune of Rs 541 crore for funding working capital requirements and the rest for general corporate purposes.
Vikran Engineering provides end-to-end services from conceptualisation, design, supply, installation, testing, and commissioning on a turnkey basis.
As of June 30, 2025, the company completed 45 projects across 14 states with a total executed contract value of Rs 1,920 crore. It has 44 ongoing projects across 16 states, aggregating orders worth Rs 5,120 crore.
Vikran Engineering’s revenue from operations increased 16.53 per cent to Rs 916 crore in FY25 from Rs 786 crore in the previous financial year, and profit after tax rose 4 per cent to Rs 78 crore in FY25 from Rs 75 crore in FY24.
Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris h…Read More
Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris h… Read More
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Yes Bank shares rose after the CCI approved Sumitomo Mitsui Banking Corporation’s plan to acquire up to a 25% stake in the lender.
Yes Bank SMBC Deal
Yes Bank Shares Rise: Shares of Yes Bank gained 2 per cent to Rs 20 on September 3 after the Competition Commission of India (CCI) approved Japan’s Sumitomo Mitsui Banking Corporation’s (SMBC) plan to acquire up to 24.99 percent in the private sector lender.
In its release, the CCI confirmed that the deal “relates to the acquisition of share capital and voting rights of Yes Bank by Sumitomo Mitsui Banking Corporation.” SMBC, a wholly-owned subsidiary of Sumitomo Mitsui Financial Group (SMFG), is Japan’s second-largest banking group with total assets of around $2 trillion as of December 2024 and a significant global footprint.
This clearance follows the Reserve Bank of India’s (RBI) approval last month for SMBC’s proposal to pick up nearly a quarter of Yes Bank’s equity. The transaction originates from Yes Bank’s May 9, 2025, announcement that SMBC would acquire a 20 per cent stake via a secondary purchase. The deal involves buying 13.19 percent from the State Bank of India (SBI) and 6.81 per cent collectively from seven other lenders, including Axis Bank, ICICI Bank, HDFC Bank, Kotak Mahindra Bank, Bandhan Bank, Federal Bank, and IDFC First Bank.
Once completed, the transaction will make SMBC the single-largest shareholder in Yes Bank, marking a significant milestone in the bank’s turnaround journey following its restructuring in recent years. Market participants see the entry of a global player like SMBC as a boost to Yes Bank’s capital strength and credibility.
In a separate development, the RBI has cleared the reappointment of Rama Subramaniam Gandhi as part-time Chairman of Yes Bank. Gandhi, a veteran central banker with 37 years of experience, previously served as RBI Deputy Governor between 2014 and 2017. His new tenure will run from September 20, 2025, to May 13, 2027.
Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a…Read More
Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a… Read More
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