Does sustainability represent something more for Millennials than a matter of brand preference?
Millennials and Gen Z will represent 70% of the global population by 2028, but will not command the lion’s share of wealth until 2050 as part of a generational transfer, representing a paradox in the worlds of traditional retail, e-commerce, technology andbeyond. Millennials and Gen Z are more responsive to differentiated physical experiences than prior generations, and yet are leading the revolution of online shopping. They are focused on value, while growing sneaker purchases into an alternative asset class. We expect to see increasing focus on this population in the years to come, culminating in a retail environment reflecting this generation’s life-cycle, attitudes and consumption patterns.
What we’re watching:
- P2P transactions
- Ride-sharing growth
- Instagram brand influence
- Supply chain evolution
Estimated US millennial population by 2050
Surveyed Instagram users who have purchased a product from a brand discovered on the platform
Millennials surveyed who say they do not want to buy the brands they grew up with
Increase in 4-5 pair sneaker ownership by Millennials and Gen Z women over the last 5 years