How well do you know millennial shoppers?
By now most retailers should be familiar with the millennial shopper:
- 80 million U.S. consumers born between 1980 and 2000
- The first truly digital generation, they are “more wired, more community conscious, and more skeptical of traditional business practices” than previous generations.
- They spend $600 billion annually on goods and services.
- They are savvy value shoppers, relying on peer recommendations, online reviews and “show-rooming” to get the best prices.
- They prefer to spend money on experiences, not “stuff;” many don’t see themselves ever buying a car or a TV.