Capturing Millennials Purchasing Power

By , July 27, 2015 10:07 am

By 2017 Millennials will have more spending power than any other age group.

Millennials are expected to account for 50% of the planet’s consumerism by 2017. In the USA, the demographic of people aged from 18 to 30 constitutes the main force that drives the labor market, with 53.5 millions of working population. They have already surpassed both Generation X (52.7 millions) and the boomers (44.6 millions). This paper analyzes the generation’s potential.

Millennial’s — those born between 1980 and 2000 — spend about $600 billion a year (including purchases via mobile devices). There’s no magic bullet for capturing the millennial consumer, but there are trends and strategies you need to know.

There’s also this one little secret that will help you successfully reach this elusive generation: Stay agile!

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6 trends in millennials’ buying habits

  • 10 tips for staying agile amid their changing behavior
  • Plus 8 forward-looking strategies to build a healthier bottom line

Six trends to know when selling to millennials

How retailers can get hip to the greatest (digital) generation

 Despite the many promising headlines, there’s no magic bullet for capturing the millennial consumer.

There are overarching trends, though, and you’ll need to know them and build your strategies around them. But to be a successful online retailer in 2015, the only true secret is to stay agile.

Let’s face it. Even millennials don’t know what their preferred purchasing method will be in ten years, five years or even three years. You must position yourself as a business ready to adapt to what’s next.

In their new eBook, ChannelAdvisor has outlined:

  • Some of the major trends in millennials’ buying habits
  • Some practical ways to stay agile amid their changing behavior
  • Forward-looking strategies that will help you build a healthier bottom line for your online business

Download the eBook here.

Source: ChannelAdvisor

– See more at: http://www.ixtenso.com/en/category/sales_promotion/mobile_multichannel/20273-6-trends-to-know-when-selling-to-millennials.html#sthash.kxFnLMdx.dpuf

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