As soon as next year, millennials — who in aggregate boast $200 billion in spending power — are projected to overtake Baby Boomers as the largest living generation in the United States in terms of spending, according to Euclid. That makes it “sink-or-swim time for physical retailers,” according to Euclid CEO Brent Franson, who points to Amazon as a model.
“Over-marketing is a huge turn-off to most consumers. New buying models are winning over millennials and others who value modern shopping channels,” he said in a statement. “And shoppers want from physical stores what they get from Amazon — a frictionless buying experience. The question is, will brick and mortar retailers deliver? They’re certainly positioned to do that, if they shape the store experience to align with consumers’ high expectations for convenience.”