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Millennials strengthen hold on Retail

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Apparel Online India February, 16-28, 2015

Increasing number of retailers incorporate strategies targeted at the millennials

The second-largest US generation after their baby boomer parents, Millennials or Generation-Y or Echo-Boomers (popular names for the generation) are forcing traditional retailers to strategize operations to meet their preferences. According to Accenture plc, the spending of the US millennial population, currently in their 20s and 30s will be more than double to US $ 1.2 trillion by 2020 and account for one-third of all US purchases. These free-spending consumers are changing the retail scenario and retailers are going all out to target millennials and convert them to brand loyalists at a young age so that they are able to maintain these consumers for life.  Not restricted to the US alone, one can find this upward mobile group of consumers…

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Source: Apparel Online India February, 16-28, 2015
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