Millennials Spend More Online and Major Retailers Are Making the Connection

Nine online retailers were recognized by The NPD Group at Shoptalk 2017

Port Washington, NY, March 27, 2017 – Millennials shop more frequently at brick and mortar, but spend more money when shopping online, according to Checkout TrackingSM, the receipt mining service from global information company, The NPD Group, Inc. Amazon and Target were among the nine major online retailers  recognized by NPD at the recently held Shoptalk conference as Millennial Magnets for the connection they made with Millennial shoppers in 2016.

Amazon was recognized as having the largest overall e-commerce penetration* among Millennial buyers in 2016, based on NPD’s Checkout Tracking information. Target was identified as having the top increase in e-commerce penetration among Millennial buyers of all general merchandise retailers in 2016. The remaining retailers, which spanned a variety of industries, were recognized for having notable increases in e-commerce Millennial penetration, within their respective industries, compared to 2015.

  • Nike (Footwear)
  • Best Buy (Consumer Electronics)
  • Jet.com (Health/Beauty)
  • Toys R Us (Toys)
  • Wayfair.com (Textiles)
  • Walmart (Housewares)
  • ASOS (Apparel)

“The Millennial buyer is business critical but complicated, often finding appeal in smaller, more specialized shopping options,” said Andy Mantis, executive vice president of Checkout Tracking. “The advances these major household-name brands have made with the Millennial audience will be prove valuable, as they spend more than twice as much per receipt when shopping online in several categories.”

“Retail is finally meeting Millennial demands,” said Marshal Cohen, chief industry analyst, The NPD Group, Inc. “Retailers that transform the shopping experience to deliver a more personalized approach, whether online or in-store, will be better equipped to compete for this generation’s dollars.”

* Penetration, or buyer share, is defined as the percent of shoppers who shopped at that particular retailer.



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Kim McLynn
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kim.mclynn@npd.com

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