Thursday, December 15, 2016

Millennials' Holiday Wish List

http://www.zerohedge.com/news/2016-12-13/millennials-holiday-wish-list

Millennials (those born between the early ‘80s and mid ‘90s) and Gen Z (born after 1996) now make up America’s largest consumer base, so their preferences will shape spending patterns for years to come. Despite the financial headwinds facing millennials, such as student loans, they have already helped drive spending this holiday season over Thanksgiving. According to the National Retail Federation, eight in ten millennials shopped over that weekend, but more so online. A PwC survey discovered similar findings, as millennials prefer to shop online rather than visiting stores. They also learn about brands and deals on the web or through social media, not traditional mediums like TV unlike most consumers. While millennials favor experiential gifts – think travel or entertainment – Gen Z prefers tangible gifts, such as electronics more than any other cohort. These groups are more heterogeneous than one may think. For consumer preferences of everyone from a hipster to a millennial parent, please read on for the details.

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