I HAVE 3 MILLENNIALS IN MY HOME - MILLENNIALS ARE OVERHYPED IN RETAIL; THERE IS NO CUSTOMER FOR LIFE

Thanks to this wonderful research from THE Forrester group

Does this explain the loss of market share of GAp to Zara....maybe?

MILLENNIALS ARE OVERHYPED IN RETAIL; THERE IS NO CUSTOMER FOR LIFE
JUNE 1, 2015

Retailers should stop obsessing over Millennials and instead turn their attention to older generations with greater financial power, writes Forrester's Sucharita Mulpuru in new research. She argues that many of the opportunities and challenges Millennials present to retailers are overhyped, debunking three common myths that drive retailers' obsession:

1. Millennials are fundamentally different from other generations because of their exposure to technology.

Every generation over the last several decades has experienced some extraordinary change during its youth.

2. Millennials have very different tastes and habits, which is why marketers and brands struggle to attract them.

Millennials are not fickle; rather they're financially strapped and consequently frugal.

3. Millennials are headed toward economic catastrophe because they are in unprecedented debt.

The future isn't entirely bleak — today's youth are making major life decisions that traditionally affect income at an older age.

The reality, Mulpuru writes, is that there is no such thing as "a customer for life." Most retailers do not need to fret over this younger generation.

Millennials, those consumers born in the 1980s and mid-1990s who are ages 18 to 34 — a group that has grown up with online shopping, smartphones, and social media. Forrester identifies two groups of Millennials: younger Millennials (ages 18 to 24) and older Millennials (ages 25 to 34). Technology has shaped much of their lives, and they have become the early-adopter generation. In 2014, more than eight in 10 online Millennials used a smartphone and almost half used atablet. They are also the first group to adopt emerging technology like wearables. This demographic overview highlights how this group uses technology and how Millennials like to engage with companies.