Globally, retail sales will top $27 trillion by 2020, with over $4 trillion attributed to eCommerce. In the US, sales are slated to exceed $423 billion by the end of this year, with consistent double-digit growth fueled by increased spending, expansion into new digital categories like grocery, and growing mobile commerce sales.
More than ever before, retailers must pay attention to generational spending habits to win the hearts and minds of buyers, and capture the sales they’re looking for. Shoppers across four generations will drive this growth, and each segment wants to be catered to on their own terms.
This analysis offers and up-close look at each segment – their habits, desires, and behaviors – and reveals ways to win wallet share within each group:
- GEN Z – Ages 17 & Under
- MILLENNIALS – Ages 18 – 36
- GEN X – Ages 37 – 52
- BABY BOOMERS – Ages 53 – 71