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Robert Krulwich of WNYC’s Radiolab has been wondering about Americans’ shopping habits since reading a study from financial newsletter writer Harry Dent.
Dent thinks the U.S. is headed for an economic apocalypse as baby boomers retire and stop buying things. So he crunched some numbers from the U.S. Census bureau.
The “Demand Curves” he created, such as the one above for men’s shirts, yielded some surprising trends about baby boomers’ sartorial choices.
He found that at a certain stage in life, Americans’ spending on clothing peaks — then plummets. But why?