US millennials number some 73 million, and collectively have much purchasing power. A comScore report this past year, covering people born between 1981 and 2000, pegged millennials’ annual outlays at $170 billion.
They don’t feel free and easy about spending that $170 billion, though. As an example of this, Q3 2012 polling by IRI found 45% of the 18-to-34 cohort (vs. 27% of baby boomers) agreed that they “buy brands on sale vs. preferred brands” when shopping for CPG items. A later IRI survey, in Q4 2012, found millennials particularly active in using digital coupons—accessed from a wide variety of sources—to economize on CPG purchases. Read the rest at eMarketer.
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