Millennials in 2015: Retail Deep Dive
Millennials are deal shoppers who won’t compromise on quality. They place a premium on authenticity–from the products they buy to their interactions with brands. In particular, Millennials value goods that are handmade and locally produced. They want to know the story, history and heritage behind the items they purchase. And they demand a connected, multi-channel shopping experience.
Many Millennials frequent Wal-Mart. Upscale Millennials, however, are less likely than their generation as a whole to frequent Wal-Mart. They’re more likely to frequent Target. Target has focused on capturing the upscale Millennial market through its partnerships with fashion designers and the affordable, yet chic Threshold home accessory line. This generation as a whole is likely to shop at dollar stores, while upscale Millennials are likely to frequent Best Buy, Costco and Old Navy.