Most Popular Stores for Millennials
The 18 to 34 age demographic has long been the holy grail for advertisers and brands. Young adults are thought to have more disposable income and the potential to develop brand loyalty that will last a lifetime. Today, the millennial generation largely comprises this coveted consumer demographic.
Millennials, as defined by Pew Research Center, were born between 1981 and 1996 and range in age from 22 to 37. The millennial generation has been the subject of endless scrutiny and analysis — and the conclusions are sometimes unflattering and often controversial. While sweeping characterizations about a group of Americans totalling 75 million are bound to be flawed, they often reflect some broad trends.
For example, millennials have largely been shown to be receptive to certain values, including transparency and authenticity. They are also demonstrably more likely to delay certain major life milestones such as homeownership and marriage. Growing up with technology, they are also more technologically and socially connected than any previous generation.
Each of these traits can impact consumer behavior and brands able to recognize them were able to achieve a competitive edge in resonating with today’s young adults. Additionally, just by falling into a certain age range, millennials are more likely to be drawn to certain kinds of stores than other age groups.
24/7 Wall St. reviewed foot traffic patterns provided by data service company Placed Insights to identify the most popular stores for millennials. Brands were ranked based on an index score reflecting the likelihood that a consumer in the 18 to 34 age range would shop there compared to the general consumer population as a whole.
While some experts warn of a coming “retail apocalypse” due to the rising popularity of e-commerce, a considerable share of millennials prefer the brick-and-mortar shopping experience. Indeed, the vast majority of the stores on this list are staples in shopping malls nationwide.