{"id":1130,"date":"2016-03-18T07:52:54","date_gmt":"2016-03-18T12:52:54","guid":{"rendered":"http:\/\/dev-mhisolutionsmag.officialdirectory.com\/?p=1130"},"modified":"2016-06-14T09:54:42","modified_gmt":"2016-06-14T14:54:42","slug":"industry-focus-retail","status":"publish","type":"post","link":"https:\/\/www.mhisolutionsmag.com\/index.php\/2016\/03\/18\/industry-focus-retail\/","title":{"rendered":"Industry Focus: Retail"},"content":{"rendered":"

\"\"<\/a><\/p>\n

There is a sea change coming, one that will require retailers to respond. And when they do, they\u2019ll no doubt be leaning heavily on companies throughout the supply chain to assist.<\/p>\n

\u201cRight now, Baby Boomers are providing the large proportion of sales for retailers,\u201d said Sue Yasav, vice president, research insights leader at Synchrony Financial. But it won\u2019t stay that way for long. \u00a0\u201cAccording to Pew Research, Millennials are now the largest generation in the U.S. workforce\u2026 and they are entering their peak consumption years. Soon they will be a huge shopping force, and the way they interact with retailers is very different. They are digital natives, and retailers will need to consider that.\u201d<\/p>\n

Boomers and Millennials do share one thing in common: sheer size. Boomers, those born between 1946 and 1964, number about 76 million. Millennials\u2014those born between 1980-2000\u2014are slightly larger at 80 million. (Nestled in between is the oft-overlooked Generation X, at about 50 million.)<\/p>\n

Jeff Fromm, president of Futurecast and author of Marketing to Millennials<\/em>, said Millennial is a mindset, not necessarily a birth year. \u201cThey believe in fairness and inclusivity,\u201d he said. \u201cThey use mobile technology to simplify their lives. They use peer networks to get information. They are always looking for more useful solutions and they have big thirst for adventure.\u201d<\/p>\n

According to Yasav, understanding that mindset is key to targeting this population.<\/p>\n

By Sandy Smith<\/em><\/p>\n

Click here to read the full article.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

There is a sea change coming, one that will require retailers to respond. And when they do, they\u2019ll no doubt be leaning heavily on companies throughout the supply chain to assist. \u201cRight now, Baby Boomers are providing the large proportion of sales for retailers,\u201d said Sue Yasav, vice president, research insights leader at Synchrony Financial. …<\/p>\n","protected":false},"author":40,"featured_media":1117,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[],"class_list":["post-1130","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industry-trends"],"yoast_head":"\nIndustry Focus: Retail - MHI Solutions<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.mhisolutionsmag.com\/index.php\/2016\/03\/18\/industry-focus-retail\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Industry Focus: Retail - MHI Solutions\" \/>\n<meta property=\"og:description\" content=\"There is a sea change coming, one that will require retailers to respond. 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