Millennials and Money: A Look at How Young People Shop and Spend in America (Infographic)
Opinions expressed by Â鶹Éç contributors are their own.
This article is part of the Spend Smart series. Read more stories
It’s well known that young people like to shop. In the relatively care-free years of high school and college — before the responsibilities of having a family set in — young people tend to plow their pennies into blouses, jeans and other must-have accessories.
Today’s generation of 16-to 34-year-olds, known as Millennials, aren’t so different from previous generations in this respect. However, new research suggests that they are more likely to wield a smartphone or other mobile device as a shopping companion than their older counterparts — a key data point for any startup retail shop looking to cash in on apparel.
#insert RSS here#
Half of millennials reported regularly using a mobile device to compare prices or read user reviews while shopping compared with just 21 percent of non-millennials, according to new data from the Boston Consulting Group. What’s more, the majority of younger shoppers prefer variety in sales platforms beyond just a bricks-and-mortar location. An ecommerce-enabled website and a mobile shopping app are key among this group, for instance.
In the from software provider (below), check out other fun facts about millennials’ shopping druthers.
Related:
It’s well known that young people like to shop. In the relatively care-free years of high school and college — before the responsibilities of having a family set in — young people tend to plow their pennies into blouses, jeans and other must-have accessories.
Today’s generation of 16-to 34-year-olds, known as Millennials, aren’t so different from previous generations in this respect. However, new research suggests that they are more likely to wield a smartphone or other mobile device as a shopping companion than their older counterparts — a key data point for any startup retail shop looking to cash in on apparel.
#insert RSS here#
Half of millennials reported regularly using a mobile device to compare prices or read user reviews while shopping compared with just 21 percent of non-millennials, according to new data from the Boston Consulting Group. What’s more, the majority of younger shoppers prefer variety in sales platforms beyond just a bricks-and-mortar location. An ecommerce-enabled website and a mobile shopping app are key among this group, for instance.
In the from software provider (below), check out other fun facts about millennials’ shopping druthers.
Related:
