Grocery stores aren't meeting millennials' needs
Further, between 2008 and 2015, daily spending among 19- to 35-year-olds has decreased by $13 per day.
Considering the number of millennial consumers in the U.S., this amounts to a spending shortage of approximately $949 million per day.
Millennials' low consumer spending is one symptom of poor customer engagement. Just 25% of millennials are engaged customers, compared with 28% of Gen Xers, 33% of baby boomers and 38% of traditionalists. This makes millennials the least engaged generation of customers.
Before retail companies - particularly those in the U.S. - can remedy these alarming trends, they need to better understand millennials' consumer tendencies. ■