What is Millennial in Retail? Explained

A Millennial denotes a demographic cohort born roughly between the early 1980s and mid-1990s to early 2000s. Also known as Generation Y, millennials represent a significant consumer group with distinct preferences, behaviors, and attitudes that shape retail trends. They are often characterized by a strong affinity for technology, a preference for experiences over material possessions, and an emphasis on sustainability and social responsibility. Understanding millennial preferences is crucial for retailers seeking to tailor their products, services, and marketing strategies to engage and attract this influential consumer segment effectively.