Retail CIOs take note: Millennials own your future

With over $1.4 trillion in millennial spending power by 2020, no retailer can afford to overlook what this generation wants.

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Millennials (the generation born from the early 1980s to 2000) now outnumber baby boomers, and the youngest of this cohort is on the cusp of adulthood. It's not surprise, then, that the shopping habits of this digitally-native generation are permanently changing retail at every stage of the shopping journey.      

“Millennials are just entering their prime spending years,” says Tom McGee, president and CEO of the International Council of Shopping Centers. “This younger, and even bigger, generation than the baby boomers depends on technology, but is also looking for a personalized and social experience when they shop.”

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