64% of Millennials percent wait to buy something until it goes on sale!
Retail trends since the Great Recession have delivered a substantial shift in spending patterns. What has come to be known as the “Retail Apocalypse” is really just a shift towards value shopping channels, and even as well-known chains suffer notable closures, value chains like Dollar General and ALDI are seeing record growth. Not only that, a recent Nielsen study shows that those discount retailers are seeing a new demographic in the affluent segment, with heads of household under 25 who earn at least $100,000 a year increasing their Dollar Store purchases by 7.1 percent, nearly double all other retail stores.
This trend, together with the proliferation of smartphones and the ease with which consumers can comparison shop, has presented some unique challenges for businesses in identifying and targeting these value shoppers.
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