Hobbies Are Winning the Battle for Americans’ Paychecks

Bloomberg's Julia Fentress discusses data showing US hobby spending has grown year-over-year every month since April 2025, outpacing overall discretionary purchases. The trend spans generations, with consumers saving less and cutting elsewhere to fund hobbies. Companies like Michaels confirm the shift, with examples including stickers, golf equipment, and sewing machines. The segment highlights a consumer-discretionary theme favoring hobby/leisure spending. - PNC credit card data show year-over-year growth in hobby spending every month since April 2025. - Hobby spending growth is outpacing overall discretionary purchases. - The trend spans baby boomers to Gen Z consumers. - Personal savings are at a four-year low as consumers splurge on hobbies. - Michaels CEO says hobby spending is generational and includes large purchases. - Examples include $300 monthly sticker spending, a $650 Callaway driver, and a $200 Singer sewing machine. - Market implication is a potential tailwind for hobby/leisure-related consumer discretionary names.