One store no longer fits all.
Today’s millennials—nearly 80 million individuals in the United States alone—represent a staggering force in today’s marketplace, spending roughly $600 billion each year. And their impact is only expected to grow through 2020, with estimates their total spending in the US will top out at nearly $1.4 trillion annually.
Despite this, most retailers today are millennial-challenged...
- Unlike previous generations that struggled to price and comparison shop, millennials have it down to a science, using sites like Hukkster.com to find unique products and discounted rates at the click of a button.
- Showrooming: ...Millennials, looking at products on the retail floor and then turning to the internet to make their actual purchase at the lowest price is a way of life. But retailers can’t afford to simply turn their stores into showrooms. ....To survive, they must change their in-store experience—and fast.
- The sale doesn’t end at the register
- Understanding how [your] brand and products fit into the broader fabric of their lives.
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