Nearly one third of millennials are set to spend more this Christmas season compared to the same time last year.
Some 31 per cent of 18 to 29-year-olds are more likely to spend bigger during the busy retail period than any other age group, the DBM Consultants Consumer Atlas study shows.
This is compared to the rest of the Australian adult population, where only 15 per cent expect to spend more.
Millennials also drop more cash when dining out, travelling and on gifts than the rest of the population.
DBM Director Maria Claridad says this is mainly due to their life stage, with many millennials planning to spend their extra money on mates.
"It is the values instilled due to their circumstances in age," she said.
"Interestingly, within the 30 plus age group, the 30-39 year olds lead in entertaining their family and friends at home, with 31 per cent specifying this will be their main area of spending more."
But the survey found Australian across all age groups and locations are due to spend more on home improvements than any other area in comparison to last year.
