First, who are the roughly 80 million Millennials in the US? The infographic defines them as people born between the years 1980 and 2000, and it says they spend approximately $600 billion per year—a figure that is expected to grow to $1.4 trillion by 2020.
For brands that want in on that Millennial action, it helps to know how this group shops. The infographic compares generational buying habits and points out that Millennials outspend other groups by $80 per month on coffee. It also says 60% of Millennials rate products and services online, compared with 49% of other generations.
The infographic explains that Millennials can be extremely loyal to brands they like, and it gives tips for harnessing that loyalty.
If you want to learn how to connect with Millennial shoppers, check out the infographic:
Continue reading "How Millennials Are Changing the Shopping Landscape [Infographic]" ... Read the full article
MarketingProfs provides thousands of marketing resources, entirely free!
Simply subscribe to our newsletter and get instant access to how-to articles, guides, webinars and more for nada, nothing, zip, zilch, on the house...delivered right to your inbox! MarketingProfs is the largest marketing community in the world, and we are here to help you be a better marketer.
You may like these other MarketingProfs articles related to Customer Behavior:
- What B2B Tech Marketers Want From Martech Solutions
- How to Push Customers Down the Brand Loyalty Funnel
- Why People Really Do What They Do: 'Primal Brain' Author Tim Ash on Marketing Smarts [Podcast]
- Do Customers Trust You? Six Tips for Earning Brand Trust in 2021
- This Is Your Brain on Marketing: Nancy Harhut on Marketing Smarts [Podcast]