Millennials (born between 1980-2005) represent more than $200 Billion in annual buying power, expected to increase to $1.4 Trillion by 2020. Synonymous with technology, the Millennials are tech savvy and rely heavily on user experiences to make purchasing decisions. 68% of this demographic rely on user feedback via friends, social media, blogs, opinion postings, etc. for information about a specific product prior to buying. Additionally, nearly 70% of Women and 50% of Men consider shopping a form of entertainment, often experienced with friends and family, which is a great thing for brick and mortar businesses.
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