Study: ‘Bridge Millennials’ drive spending across apparel and accessories
Maturing and more established Millennials are becoming increasingly appealing to retailers, especially those in apparel.
Americans across generations, including Millennials, Generation X and Baby Boomers, spend $400 billion on apparel and accessories annually, accounting for 8% of all retail spending in the United States. However, bridge Millennials, a mobile-centric group comprised of 30- to 40-year-olds, are spending more on apparel and accessories than any other generation, according to the “Connected Consumer Report,” from Pymnts.
Millennials make an average of 19.3 apparel and accessories purchases annually. The digitally savvy bridge Millennial segment leads these purchases based on their shopping journeys that happen both online and offline. In fact, 40% either went online to find and buy clothes, or perused in the store and then purchased online.
Ultimately, preferences across all groups come down to consumer-retailer interactions both in stores and online. Consumers value easy, accessible shopping across various channels, and 71% said they would purchase from a merchant that offered a more seamless and meaningful experience. Bridge Millennials are no different, as 25% of these online shoppers prefer Amazon. Meanwhile, 30% have switched to or tried a new merchant in the past 30 days.
Realizing that digital shopping, both online and in stores, has come to change the way consumers shop, “brick-and-mortar stores will need to focus on becoming more digitally efficient to attract and retain customers — especially the promising bridge Millennials generation,” the study said. “Retailers are now working to perfect that consumer engagement in an increasingly digital world, endeavoring to make the situation meaningful and give all generations an optimum shopping experience.”
Americans across generations, including Millennials, Generation X and Baby Boomers, spend $400 billion on apparel and accessories annually, accounting for 8% of all retail spending in the United States. However, bridge Millennials, a mobile-centric group comprised of 30- to 40-year-olds, are spending more on apparel and accessories than any other generation, according to the “Connected Consumer Report,” from Pymnts.
Millennials make an average of 19.3 apparel and accessories purchases annually. The digitally savvy bridge Millennial segment leads these purchases based on their shopping journeys that happen both online and offline. In fact, 40% either went online to find and buy clothes, or perused in the store and then purchased online.
Ultimately, preferences across all groups come down to consumer-retailer interactions both in stores and online. Consumers value easy, accessible shopping across various channels, and 71% said they would purchase from a merchant that offered a more seamless and meaningful experience. Bridge Millennials are no different, as 25% of these online shoppers prefer Amazon. Meanwhile, 30% have switched to or tried a new merchant in the past 30 days.
Realizing that digital shopping, both online and in stores, has come to change the way consumers shop, “brick-and-mortar stores will need to focus on becoming more digitally efficient to attract and retain customers — especially the promising bridge Millennials generation,” the study said. “Retailers are now working to perfect that consumer engagement in an increasingly digital world, endeavoring to make the situation meaningful and give all generations an optimum shopping experience.”