The Top Five Myths Retailers Believe About Millennial Shoppers

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Myth #1: Retailers will always market differently to various shopper demographics.

BUSTED -- In the survey, there was an even 50/50 split between those retailers that choose to market differently to various demographic segments, and those that don’t. And though we can’t speak to the success of any targeted efforts as they relate to driving new traffic to a site or into a store, an interesting point worth noting is that 68 percent of consumers say they view retailer engagement as only somewhat important or they’re neutral toward it.

According to Accenture, millennials are expected to spend approximately $600 billion annually. This is a significant market, one that retailers must ensure they are part of. Yet millennial shoppers are a unique breed with very specific preferences, often leaving many retailers scratching their heads as they explore new engagement methods. Merchant Warehouse and Retail Pro International recently completed a survey around millennial shopping preferences with the goal of identifying where this knowledge gap exists and, in turn, helping retailers more effectively identify ways to attract and engage millennial shoppers. Based on the data, Merchant Warehouse and Retail Pro International identified the top five myths retailers believe and put them to the test: are they true or just a myth?

 

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