It’s hard to go a day without reading an article about the brands and industries millennials are killing off. From napkins to cereals to banks, the lineup of sectors that these 20- and 30-somethings are rethinking seems endless. It’s enough to make marketers think that brand loyalty among millennials is dead. However, the opposite is true. Millennials are actually the most loyal generation of buyers, with more than 50 percent reportingthat they’re extremely or quite loyal to their favorite brands. Furthermore, 64 percent in this age group rate themselves as more loyal to a brand than their parents’ generation.
As a retailer, if your strategy doesn’t already tilt toward millennials, the train may have already left the station for your long-term success. Millennials and the rising influence of Gen Z should already be fully baked into your strategy. This most-powerful buying demographic spends more than $65 billion each year and influences upward of $1 trillion in total consumer spending.
Source: Total Retail Read Full Story: Build Brand Advocates