Millennials as Shoppers and Consumers
The focus shifts now from marketers to Millennials as shoppers and consumers. It turns out that they love diamonds and buy more diamonds than any other generation—perhaps because they are young and are getting engaged more than members of other generations. They are “core customers” of fast food restaurants but do not like Big Macs and are switching their allegiance to “fast casual” restaurants. They also like to clip coupons and show a preference for small grocery stores like Trader Joe’s instead of big box stores. They also like news but don’t wish to pay for it by purchasing newspapers. They keep up with the news by using the Internet, social media, and television news shows such as those found on CNN. They also like name brands such as Nike, Apple, Samsung and Sony. This discussion is followed by a list of their favorite brands. The preferences of Millennials are important since they spend so much money on products and services.