Retailers: Brace for a New Wave of Generational Disruption
From eMarketer Retailers, still struggling to adjust to millennial shopping preferences, face a new wave of disruption from the youngest millennials, with Gen Z in their wake. While there are some similarities between the youngest millennials and their older predecessors, there are also distinct differences, according to an Accenture survey of nearly 10,000 consumers ages 18 to 37 across 13 countries. For instance, while Facebook remains the most popular social platform for both younger (21-27) and older (28-37) millennials, YouTube is actually the most regularly used social media platform among the very youngest group, those 20 and under. Meanwhile, two-thirds of the younger shoppers said they regularly use Instagram, compared with only 40% of the older ones. Echoing other survey findings, the study found the younger group was twice as likely as the older millennials to use Snapchat. Why does their social media preference matter?