Retail Top 100 2012, No. 18: Millennials

 
Jan. 10, 2013

Finding themselves with more time than money and armed with total pricing transparency and unlimited selection, Millennial shoppers (those born between 1980 and 2000) are taking Depression-era frugality to a whole new level. In the process, Millennials are pushing retailers to learn new tricks. According to a study from Deloitte, Web-savvy Millennials treat each shopping trip as a mission. They research online and know exactly what they’re going to buy when they arrive at the store. TechCrunch sees in this trend the “Death of the Impulse Shopper,” while Bloomberg hails the “Rise of the Surgical Shopper.” Whether retailers see the glass as half-empty or half-full, the trend increases the importance of every customer who comes in their stores. Retailers can no longer rely on impulse buying to pay back the cost of loss-leader promotions, and rewards for store loyalty. Efforts, instead, must be dedicated to converting every shopper into a buyer.

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Topics: Top 100 Retail


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