Reacting with gusto to the dramatically evolving patterns for spending money via the Internet, Millennials are spending like no other generation before them. New research indicates that those born in the ’80s and ’90s are outspending any other age group – both in stores and online.
Letting go of money
The study show that Millennials are the most likely of generations to drop $50 in the US or 50£ in the UK when they have a chance to so, no matter if shopping at home online or in person in the actual store. Generation Xers and Baby Boomers are not spending quite as much as the latest generation to have fully evolved into adulthood. Most likely, once Gen Z fully comes of age, this fully digital native batch will lead the pack in spending as well, as indicated by statistics on those born in the new century who have already joined the workforce and are spending like it.
Brand loyalty
By a small margin, young people of the Millennial generation are also most likely among the age groups surveyed to support particular companies when they felt their products, services and mission were aligned with their own. Millennials are also more likely to add more items into online carts when they are satisfied by the services provided by a company they like.
Subscription box boost
In the US, more subscription box business models for starting online income generation based around a particular niche were more popular than in the UK. The trend carried through for all generations. This popular multi-step model outlines how to go from idea to income, based on one’s Internet connectivity and networking skills for finding customers and giving them what they want.
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