Millennials have become a bigger part of the retail customer demographic with the group expected to have more spending power than any other generation by 2017. Millennials are incredibly connected to technology with their smartphones and tablets. They are accustomed to rapidly changing technology and increasingly expect their retail brands to do the same.
Retailers will need to adapt their business models to fit the digital
shopping preferences of this new generation or risk losing them
altogether. And the risk is great. In fact, according to Accenture,
millennial spending in the United States will grow to $1.4 trillion
annually and represent 30% of total retail sales by 2020, putting the
onus on retailers to provide the experience they expect.. . . more