Understanding Millennial Shopping Habits for Business Growth

Millennial consumers are driven by convenience, nostalgia, a willingness to defy taboos, and a desire for longevity—plus, they love subscriptions.

Millennials—individuals born between 1981 and 1996—now make up 29% of the worldwide population. In the United States, they are the largest adult group, totaling more than 74 million people.

Given the generation’s size, it makes sense that millennials comprise a large share of purchasing power. Despite coming of age during the 2008 Great Recession, millennials are now in their prime spending years, with 16% of US millennials earning $100,000 or more per year, per YouGov.

Understanding millennial shopping habits can help you foster brand loyalty and drive sales. Read on to explore millennial purchasing behaviors and how they can impact your business strategy.

5 Millennial Buying Behaviors

Nostalgia, but healthier Some 70% of Gen Alpha’s parents are millennials, PR agency DKC reports. Millennial spending habits are specific when it comes to their children: They are nostalgic for their own childhoods, while seeking safer, healthier materials in the food, toys, and clothes they purchase for their kids.

Frozen breakfast brand Belgian Boys caters to millennial parents and their Gen Alpha children. It offers a selection of products inspired by European staples that combine childhood nostalgia with a millennial aesthetic.
Convenience is king While Gen Z shoppers demand in-store experiences, which has trickled down to other generations, including Gen Alpha, members of the millennial generation still prefer the convenience of online shopping.

The reasons are manifold: Shopping online offers more comprehensive inventory for various sizes, shades, and styles. Better yet, shopping online—especially on brand websites—often promotes better savings with customizable bundles or discount codes.
Millennials prioritize wellness, self-care, and longevity According to a 2024 report by Ford, 60% of millennials in the US would accept a 20% pay cut to achieve a lifestyle that prioritizes well-being. As millennials near middle age, their consumer behavior is focused on wellness, self-care, and longevity. This focus significantly influences their spending habits.

Supplements, lifestyle and beauty brands that focus on middle age, and exercise routines that benefit flexibility and strength are all categories that cater to millennials’ interest in wellness.
Defying taboos For better or for worse, millennials have long been deemed oversharers. A positive outcome of these divisions: The open dialogues have challenged and reframed what were once considered stigmas in previous generations.

One such topic is menopause, an area that was once whispered about, if discussed at all. But in 2024, the topic reached peak zeitgeist with the viral release of Miranda July’s novel All Fours.
Subscriptions for everything The phrase “Netflix and chill,” coined in 2009, does not just speak about millennial dating habits, but it also underscores millennials’ proclivity for what was, and still is, a subscription service. Millennials are fond of subscriptions, both digital and physical, and are the generation most likely to have between six and 11 subscriptions.

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