Don’t discount millennials this holiday season. Though some of us are drowning in student debt, most of us saved all year for the best deals. The five-day Black Friday stretch went off without a hitch, and a lot of the success can be attributed to spending by millennials (surprise, surprise we are not the four horsemen of the retail apocalypse). Older millennials ages 25-34 (aka Kat & Michelle), dropped on average $420 worth of dead presidents – 25% more than the overall consumer average, according to a report by big commerce.com.
OH SNAP! So with all of that money, what did we buy?
We purchased smart home devices that connected us even more to the Web, cutting-edge 4K OLED TVs, and other electronic goodies. We were also stoked on retro gaming console reboots, connecting us to our childhood when things were less complicated. Flannel, chokers, light-wash ripped jeans, and denim . No, we’re not talking about Kurt Cobain, these are the ‘90s fashions that millennials have in their closets and want more of under the Christmas Tree.
It’s the Hap-Happiest Season of All
To put it simply, millennials just love deals – We are cost-conscious but enjoy some of the finer things… when they’re on sale. The holiday season is a perfect time to live like a balla, but not spend beyond our means.
We will shop anywhere, any time – Like, literally, anywhere. Per Cushman & Wakefield’s newCommerce report, millennials and Gen X-ers usually shop online as well as at the store, sometimes even at the same time. When compared to baby boomers and seniors, we are five times more likely to make an online purchase from the restroom, and three times more likely to make online purchases from bed. Check out our super cool report here.
E-Commerce is our jam and don’t wear it out – 67% of us prefer to shop online in lieu of going to the store, and increasingly that online experience is through mobile devices. On average, millennials spend an estimated six hours per week shopping online.
Take a chill pill, we can pay our bills – Most millennials, 67%, are more likely to use our debit cards this season over other payment methods to better manage finances.
Michelle & Kat made out like bandits – Without spilling our trade secrets, we put our money where our mouth is and collectively we were able to save over $1,000 on vital purchases that we had been saving up for over the past 11 months.
Spending will not end with the holidays – Millennials, just like any other generation, will be looking forward to January’s markdowns.
From the writers:
Michelle & Kat:
It’s the most wonderful time of the year
TVs will be selling
and millennials yelling
when 90% off deals are nearrrrr
It’s the cray-craziest season of all
And shoppers will fight
Over for pine-scented candles to light
While their loved ones cheerrrrr
Secret Santas for re-gifting,
Shiny ribbon for snipping,
And the entire store is BOGO
Crazy uncles come alive
with tales of ex-wives
from Christmases long, long ago