Shopper Marketing - April 2017 - 137

Millennial Mindset

F

or millennials - those adults between
19 and 35 years old - the shopping
journey has become complex in-store
and online. The retail world is present in
their lives across multimedia channels.
They don't know a world without technology, without shopping in the palm of
their hand or at their desks, and they don't
know from a world without messaging
coming at them from every direction,
nearly all the time.
Within the past year two years, millennials
have become the biggest population in
the American workforce and are making
money to spend. According to Accenture,
there are about 80 million millennials in
the United States, and they spend approximately $600 billion annually.
"While Millennials are already a potent force,
they will truly come into their own by 2020,
when we project their spending in the United
States will grow to $1.4 trillion annually and
represent 30 percent of total retail sales."
- Accenture, "Who are the Millennial Shoppers and What
do they Really Want?"

Millennials have proven to be influenced and
influential across brands and retail channels,
and they have notable lifetime value. They
are social, impressionable and vocal about
what they think, what they buy and where
they do it, and many are just getting started
in their adult lives.
"So it should be no surprise that when businesses want to attract the masses, they
make sure what they're doing makes their
millennial customers happy." - Forbes.com,
"How Millennials Will Shape Food in 2017"

According to a Goldman Sachs report called
"Millennials Coming of Age," this is the largest
generation in U.S. history, and their impact
on the economy is going to be huge as they
reach prime working and spending years.
They have come of age in a tech-heavy,

greatnortherninstore.com

globalized economy, according to the report,
and that has "given them a different set of
behaviors and experiences than their parents."
"Millennials' affinity for technology is
reshaping the retail space. With product
information, reviews and price comparisons
at their fingertips, millennials are turning to
brands that can offer maximum convenience
at the lowest cost." - Goldman Sachs, "Millennials
Coming of Age"

For consumer-packaged-goods marketers
and retailers seeking opportunity with millennials, it is imperative to rethink messaging.
Food, in particular, plays a larger role for
them than previous generations.
"Millennials of the next generation will
continue to take the whole 'you are what
you eat' to an entirely new level. That is,
food isn't just about good nutrition but that
what you eat says a lot about your identity."
- Forbes.com, "How Millennials Will Shape Food in 2017"

3


http://www.Forbes.com http://www.Forbes.com http://www.greatnortherninstore.com

Table of Contents for the Digital Edition of Shopper Marketing - April 2017

Contents
Shopper Marketing - April 2017 - Intro
Shopper Marketing - April 2017 - 1
Shopper Marketing - April 2017 - 2
Shopper Marketing - April 2017 - 3
Shopper Marketing - April 2017 - Contents
Shopper Marketing - April 2017 - 5
Shopper Marketing - April 2017 - 6
Shopper Marketing - April 2017 - 7
Shopper Marketing - April 2017 - 8
Shopper Marketing - April 2017 - 9
Shopper Marketing - April 2017 - 10
Shopper Marketing - April 2017 - 11
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