Baby Boomers may still be an important retail segment, but Millennials are now larger in number. Millennials will be around longer, too, so if your store isn’t catering to them, you may find your future at risk. To attract this younger generation, you will have to re-think your marketing and merchandising strategies, because Millennials have very different shopping habits.Read More
Palmer Retail Solutions Blog
Create a retail environment that attracts millennial shoppers.
If your retail store is looking to target millennial shoppers, it's worth your time to customize the environment to suit their needs and spending habits. Millennials, born between 1980 and 2000, were the first generation born into a truly digital society. Don't underestimate this tech and Internet savvy group; they continue to spend 81 percent of their retail dollars at brick-and-mortar stores. This spending will reach nearly $2 trillion for offline stores by 2015. If you think you can't compete with online stores for millennial's attention, think again. It's worth your time to invest in this highly sought after demographic. While a majority of millennials shop in-store at least once a week, stores still face competition and struggle with customer loyalty. Millennials have the lowest conversion rates out of all the generation groups. This requires you as a retail store to cater to the desires and tendencies of millennials. Translate these opportunities into purchases and revenue by following these tips to attract millennial shoppers.Read More
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