Winning the hearts, minds, and wallets of Millennials is paramount in the minds of brands and retailers. Millennial 20/20 partner Accenture conducted proprietary global market research on the shopping behaviors of 6,000 consumers, of which 1,707 were Millennials, across eight countries.
According to the Accenture study:
- There are roughly 80 million Millennials in the United States alone, and each year they spend approximately $600 billion.
- By 2020, their spending in the United States is projected to grow to $1.4 trillion annually and represent 30 percent of total retail sales.
- When it comes to shopping, they found that 68 percent of all Millennials demand an integrated, seamless experience regardless of the channel.
- They found that 95 percent or more of Millennials say they want their brands to court them actively, and coupons sent via email or mailed to their homes currently (or will in the future) have the most influence on them. Other channels, such as text messages, have an influence on just over half of all respondents in terms of their shopping behaviors.
- 82% of Millennials prefer to shop in brick-and-mortar stores.
Millennial 20/20 Summits celebrate the modern age of commerce and business powered by the millennials and future consumer generations. It is the grand gathering of the world’s leading brands, retailers and start-ups and global partners include Forbes, CNBC, Accenture, and Unilever.
BeautyMatter has FREE tickets for the first 10 people to register and a 25% discount on registration for everyone else. Register here BEAUTYMATTERS gives the first 10 registrations a complimentary pass, and BEAUTYMATTERS25 gives 25% off the tickets.