STYLE

MasterCard Cracks the Code in the Spending Habits of Millennials

June 20, 2013

bLOG CATEGORIEs + Search

david-richReaching 16 to 34 year olds with buying power effectively has proven illusive for years, until now.  MasterCard has discovered the spending habits of this group, called Millennials, and shares its findings in a report.

According to David Rich, vice president of North America sales/business development at MasterCard Advisors,  new data from 80 billion anonymous credit card transactions  of Millennials can provide a new look beyond the usual marketing parameters based on geography, demographics and psychographics.

Millennials  total 79 million in the U.S. alone, 3 million more than Baby Boomers, ages 47 to 65.  Which makes them the next frontier in target advertising and marketing.  They’ve got cash to burn and spend and analyzing their spending habits is crucial.

Finding show that Millennials spend three times more on beauty products and at department stores, 3.5 times more on shoes and 5 times more on women’s apparel. They tend to make more transactions but spend less per transaction. The challenge for marketers and brands, he said, is to determine how to “focus on the clients that you want to have and retain the clients you’ve already got.”

“Millennials typically will start watching a movie on one device and finish it three devices later,” Rich said. “The same is true with the shopping experience and the integration of the online shopping experience with the brick-and-mortar purchase.”

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

BEHIND THE BLOG

ABOUT MAKEDA

Glamazon Diaries is a style and travel site founded in 2007 to inspire the modern woman, with a feminine and adventurous point of view.

As a tastemaker and body positive advocate, Makeda shows her readers of all shapes and sizes how to dress for their shape without breaking the bank. She combines luxury and high street brands into every looks to make style accessible to all. 

FROM THE BLOG

THE LATEST

BEST ELOPEMENT LOCALES

ORGANIC DETAILS

SPRING BOOK LIST

OUR SAHARA TRIP

the

      summer stylebook

Dressing for summer, especially for vacation is always fun. Peruse some of my favorite looks I've styled this summer for inspiration to zhuzh up your wardrobe.

TRAVEL GUIDES

THE BEST COFFEE SHOPS IN BROOKLYN

MONTREAL TRAVEL GUIDE

CHARLESTON TRAVEL GUIDE

© Glamazon Diaries 2022