We all know that Millennials love to shop and they are estimated to spend $200 billion this year, alone. But you’d be surprised by some of their Retail habits when you begin to break this group down into sub-segments by gender and age group.
Millennials are notorious for being a fickle generation when it comes to loyalty, but you have a strong chance of influencing a change in their buying behavior if you can message to them in a way that resonates with their values, motivations and purchase drivers.
Here are a few highlights in the differences in Retail habits when you avoid treating them as a generic target:
- Younger female Millennials are 147% more likely to shop at lululemon and 44% at Nordstrom, but as much as they have upscale tastes, they are 49% more likely to shop at DSW and 42% of them shop at Walgreens compared to the average US consumer.
- When you think of IKEA, the picture of college living and first apartments may come to mind. However, it is Millennial males ages 27-34 that are 66% more likely to shop with this retailer.
Our last email and infographic spoke to the variances in Product Preferences within the Millennial generation, showing that you can’t target them as one group with the same message. It dug into what product attributes they value, what’s important to them and why they buy. If you missed the Product Preference piece, we encourage you to download that as well. These two data sets can be powerful when viewed together.
Get in touch to let us help you develop your Millennial segmentation strategy and activation plan today!