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Millennials redefine in-store experience
As millennials have cemented themselves as the largest generation by population at 75.4 million, outnumbering baby boomers for the first time, the retail industry has been inundated with insights about their shopping habits.
According to Kantar Retail’s Nicole Santosuosso, the uptick in information and insights about millennials has obfuscated the ways millennials are ushering in fundamental changes in how all consumers shop.
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Mass market still most shopped channel
More vitamins, minerals and supplements were sold online so far in 2016 than have been sold through a Walmart store, TABS Analytics reported earlier this year. According to the TABS Analytics analysis, $2 billion in VMS products were sold online vs. $1.7 billion at Walmart, $1.3 billion at Costco and $1.2 billion at CVS Pharmacy.