Millennial preferences and spending habits have disrupted virtually every aspect of the retail sector. Here’s a roadmap for attracting and retaining millennial customers, in five charts.
No. 1: They Like a Discount
If there’s a coupon out there, millennials will find it. And discounts definitely impact the way they shop. November 2017 data from CouponFollow found that more than eight in 10 millennials surveyed said they used coupon codes when shopping online—and they used them often. Separate data from YouGov mirrors CouponFollow’s findings. YouGov revealed that nearly a third (34%) of respondents look for online coupons on a weekly basis, and another 40% do so with print coupons. But, millennials aren’t just looking for a discount for a pair of shoes they like. They’re also looking for deals on restaurants too.
No. 2: Don’t Call Them Cheap—They Want to Spend
While deals are constantly on the horizon for many millennials, they’re also spenders when it comes to certain purchases.
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