“There’s a big spotlight on millennials this holiday season, as retailers strive to market to and better understand this generation, from how they will shop, what they will buy and desire as gifts, to how they retain and process information,” said Marshal Cohen, chief industry analyst, The NPD Group. “In doing so, however, it’s important to distinguish the younger millennials from the older ones, because there’s a large and significant gap between them. The needs and tendencies of a 19-year old are obviously not the same as a 33-year old.”
Category Share of Purchases During Holiday 2013 (November-December)*
The NPD Group, Inc. / Shopping Activities Nov-Dec 2013
*Category share percentages based on purchase occurrences, not dollar share
“While their purchase intentions vary depending on age, millennials as a whole love to research and score big deals. They also love Black Friday shopping, with teens and young adults in particular favoring the late hours,” said Cohen. “Stores need to stagger their deals to attract millennial shoppers in the wee hours, and utilize the Internet to drive them into the stores. Also, stores will be capturing some millennials for the first time, and making a good first impression is key to keeping them.”
To speak with Marshal Cohen about holiday and retail trends, please contact Marissa Cox at 516-625-2203 or email@example.com.