The State of Consumer Spending: Millennials Flexing their Retail Market Influence in U.S. and U.K.
First Insight conducted a consumer study in the U.S. and the U.K. on shopping habits, purchase behavior and influences driving purchase decisions. The results point to the growing power of Millennial shoppers, as their behavior contributes to the success and longevity of several retail models.
The study found that:
Millennials are currently the biggest spenders per visit both in-store and online in the U.S. and U.K.
Millennials are the most impulsive purchasers and more likely to add unplanned items to their carts than other generations in the U.S. and U.K.
The spending gap between online purchases and in-store purchases is much smaller in the U.K. than in the U.S.
and much more....
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