Millennials Pull Back On Spending

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MILLENNIALS SPENDING
Shoppers ages 18-34 – regarded as a golden ticket to sales growth in particular by fashion retailers – are increasingly looking for the lowest price on most things they buy, according to a biannual U.S. survey of nearly 2,000 shoppers. (Shutterstock photo) | Shutterstock

Shoppers ages 18-34 – regarded as a golden ticket to sales growth in particular by fashion retailers – are increasingly looking for the lowest price on most things they buy, according to a biannual U.S. survey of nearly 2,000 shoppers.

“This decline in Millennial spending power presents a significant challenge to brands and retailers who have long considered young adults to be the golden ticket to sales growth,” said Wendy Liebmann, CEO of WSL/Strategic Retail, the New York City firm that conducted the research.

Read the whole story at Toronto Star