Magazine Article | September 23, 2013

Selling To Millenials: Price Optimization, Anyone?

Source: Innovative Retail Technologies
Matt Pillar

By Matt Pillar, chief editor

October 2013 Integrated Solutions For Retailers

Retail marketers take heed: you’ve got hard work ahead of you.

The task at hand is trying to make buyers out of a 90-millionstrong millennial generation that’s just about as inclined to spend as their Great Depression-era grandparents were. It’s the single largest generation in history, but its spending power was hampered by the recession. According to survey data from PNC Financial Services, the average millennial carries $45,000 in debt, the employment rate among 18- to 24-year-olds hovers slightly above 50 percent, and the majority claim they’ve delayed major purchases and life decisions as a result of the recession.