Originally printed in the March/April 2012 print issue of Gifts and Decorative Accessories
Forty-three percent of gift and decorative accessory vendors reported in the 2012 Gifts & Decorative Accessories Trends and Forecast Survey that they plan on creating products targeted at Millennials, also known as Generation Y. Not a bad plan given the 2010 Census revealed there are 56 million adult Millennials age 18 to 30. According to comScore, Millennials have a purchasing power of $170 billion. In total, this group is comprised of individuals born between 1981 and 2000, came of age in the new millennium and is considered the second largest age group behind Baby Boomers, born between 1946 and 1964. Millennials are known for multi-tasking, short attention spans and a constant need for stimulation. Traditional merchandising is not going to entice this group to make purchases. They need stores to have captivating signage and be willing to engage them through social media.
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