While Millennials may spend less money than other holiday shoppers, this sizeable bloc of consumers will spend more than last year, forecasts show. So marketers can learn from this research about how to specifically target the young group, as well as the higher spenders, and pull a victory out of what USNews.com is terming a “stagnant” start to holiday sales.
“Nearly half (49 percent) of shoppers surveyed plan to spend at least $500 on holiday shopping this year,” according to research released on Tuesday by Los Gatos, Calif.-based Wanderful Media, the company behind the Find&Save cash-back shopping app. “While closer to one-third (36 percent) of Millennials plan to spend at least $500.”
On Saturday, CNBC cites a survey by PricewaterhouseCoopers that shows a far higher dollar amount for the Millennials, 47 percent of whom said they plan to spend more this holiday season; as well as the shoppers ages 35 and older, 25 percent of whom will spend more.
“Millennials plan to spend on average $834 this year [and] shoppers ages 35 and older will spend $1,097,” according to CNBC.
Wanderful Media’s “2015 Annual Holiday Shopping Survey” aimed much of its research at the Millennial segment. Wanderful Media and CNBC offer marketers insights here:
- No. 2 among average holiday shoppers surveyed by Wanderful Media, emails from stores provide valuable insight into sales. However, emails from stores are No. 1 among Millennials.
How are marketers coping with the mobile shift? On Tuesday, TotalRetail covered Macy’s mobile strategy for the holidays.
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