The Surprising Retail Habits Of Millennial Shoppers

“Millennials are changing the retail landscape in some pretty unexpected ways. This largest generation in United States history is pretty broke – they’ve grown up in the great recession, they are saddled with student loan debt, and they make about $2000 less per year than young adults did in 1980.”

Source: thenextweb.com

Millennials are changing the retail landscape in some pretty unexpected ways. This largest generation in United States history is pretty broke – they’ve grown up in the great recession, they are saddled with student loan debt, and they make about $2000 less per year than young adults did in 1980. They are still spending money, they are just doing it a little differently than those who came before them.

Smartphones And The Internet Are Changing The Rules

According to a study by Accenture, “Millennials are not only transforming their own shopping behaviors but those of their parents, who are increasingly mimicking the demands of their children for seamlessness as they climb the digital learning curve. One consequence of this evolution is that the retail environment will probably change faster than many companies expect in the coming years, and many retailers will find themselves falling further and further behind.”

The study continued:“That’s because delivering products and services in a truly seamless fashion will require companies to make profound changes across their entire organizations—changes that many seem either unprepared or unwilling to make. To close this emerging consumer generation gap, retail leaders need to take action now to provide the seamless end-to-end experience Millennials demand.”…[read the full article at thenextweb.com]