Think it comes down to age, time of life and disposable income rather than a generational label.
The oldest millennial will now be c40 which is the age where a lot of people think "I need an expensive watch for my big birthday". I work with a lot of millennial and it seems like a lot of them are pretty settled in terms of having a house and being in a relationship but most seem to have a cat or a dog instead of kids and therefore tend to have 2 good wages coming in and nothing to spend it on apart from 4 holidays a year.
Hmmm, never noticed this before but they've really got more in common with boomers than they think.