Do Retailers Understand Millennials? Are They Even Trying To?

A recent study from Women’s Wear Daily (WWD) and Berglass+Associates takes on “retailers’ readiness for the Millennial generation,” arguing – via a survey of senior retail executives – that many are unaware of key points about the generation, such as its spending power and purchase decision influencers. Given that the definition of Millennials varies widely from one study to the next and that behavioral tendencies don’t always have fixed age breaks, it makes some sense that retailers could have trouble with the pop quizzes. It’s harder to understand why many retailers aren’t even researching this generation. (more…)