By Adrian Silipo, Marketing Manager at Retalon
Spendsetters represent a third of all shoppers, and 52% of millennials. Unlike millennials though, the term Spendsetter isn’t age-specific, rather it reflects lifestyles and shopping habits. Spendsetters are early adopters, rather than change resistors. They embrace, and sometimes demand, new solutions driven by emerging technology. Retailers simply cannot afford to ignore this growing 33% of the market.
Spendsetter Preferences and Defining Characteristics
According to a survey by Adyen:
- 42% of Spendsetters would rather not walk into your store
- 45% of Spendsetters want to believe in your brand’s value proposition, and will pay more for premium experiences
- 80% of Spendsetters aren’t afraid of using digital wallets to pay you
- 86% of Spendsetters will leave your store if the line up is too long
Who Are Spendsetters?
Based on the numbers, Spendsetters are a mixed bunch. They want to engage with retailers and embrace their purchasing experiences, but it has to be on their terms. That’s what makes selling to Spendsetters tricky.