As we reported before: “Millennials represent the largest U.S. population group. And that makes them attractive for business. According to Pew Research: ‘Millennials, ages 21-37 in 2018, number 75+ million.’ In contrast, Generation Z is younger. And some sources start Gen Z at the mid or late 1990s. Or from the mid 2000s to today.” Let’s look at how millennials are shaping online spending at the present.
Nielsen Says: Millennials Are Shaping Online Spending
According to the latest Nielsen Millennials on Millennials report:
“Millennials represent 26% of households across America, a figure that’s grown 2% since 2016. And not only do millennials hold great potential as the new wave of parents, they also carry their fair share of weight when it comes to FMCG (fast-moving consumer goods) spending. And that will grow as they progress in their careers. Therefore, capturing their attention and spending is of growing importance.”
Also, Nielsen notes that:
“60% of U.S. consumers’ FMCG decisions are still made at the shelf. This is a key insight for retailers. But so is understanding the influence that digital has on influencing consumers on their way to the shelf. Not surprisingly, millennials are more active on social media than older generations. And this affects the way they look for information as they shop. For example, Millennials are significantly more likely than the broader population to conduct online research for common items like food and cleaning products.”
Now, Check out these charts from Nielsen’s millennials’ study. What do YOU conclude?