By 2020, Millennials will account for 30% of retail sales in the US, according to a prediction cited in an infographic by CUBE.
The customer experience company looked at how Millennials shop, what their values are, and how marketers can adapt to both. Among the stats cited in the infographic:
• More than 50% of Millennials try to buy products from a company that support causes they care about.
• Some 78% of Millennials prefer to spend money on desirable experiences rather than desirable things/products.
• A whopping 84% of Millennials do not trust traditional advertising.
The infographic also includes examples of how some brands have adapted to marketing to Millennials.
To learn more about the Millennial mindset and how to market to this coveted group, check out the infographic. Tap or click to see a larger version.