We’re all well aware of the major hurdle retailers face: understanding consumer buying habits. Spending habits have changed drastically throughout the years and it’s crucial for retailers to recognize current trends.
It’s not always the case that consumer behavior varies by age. For example, the ferocious Millennials (anyone born between 1980-2000) are 1.5 times more likely to make a retail purchase using their mobile devices and 3 times more likely to be influenced by social media. However, across all age groups (Millennials, Gen X and Baby Boomers), 40-41% say they would shop online or via mobile if they wanted a product outside of business hours.