The Power of the Millennial

GAI’s Community Solutions Group (CSG) recently took part in the “2016 Retail Real Estate Report” by Crossman & Company. I had the honor of contributing to this report, along with CSG Senior Director of Economics Owen Beitsch, PhD, FAICP, CRE and Senior Director of Economic and Real Estate Advisory Services Dave Darsey.

Download a free copy of the 2016 Retail Real Estate Report by Crossman & Company.

2016 Retail Real Estate Report by Crossman & Company

ABSTRACT | By 2017, it is estimated that Millennials will have more spending power than any other generation. Because of their current age, life expectancy, and purchasing patterns, Millennials have the greatest lifetime value of any customer that a retailer can win.

The Millennial cohort is now larger than the Baby Boomer generation. There are approximately 83 million Americans between the ages of 18 and 34; Millennials represent more than a quarter of the total U.S. population and are projected to account for one in three Americans by 2020.

Retailers need to be aware of the Millennial generation’s unique preferences and create shopping experiences that satisfy their need for trustworthy information, personalization, and socially conscious products and practices.

Download a free copy of the 2016 Retail Real Estate Report by Crossman & Company.

GAI will continue to report on changes and trends in the real estate industry—look for more updates in future blog posts from Senior Project Analyst Laura Jones Smith and other professionals throughout GAI.

Laura specializes in the preparation and research of real estate development assignments and served as a professional municipal planner for six years. She can be reached at 407.423.8398.

 

For related content, be sure to check out Is Traditional Brick-and-Mortar Shopping Dead? by GAI’s Senior Director of Northeast Community Development Pat Gallagher.

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