Millennials and the generation group after them, Gen Z, make up nearly half of the U.S. population, which is good news for the retail sector, according to a recent Forbes article.
However, Forbes says that the economic environment that this group has grown to adulthood during makes them a unique retail consumers. According to Forbes, millennials lost out on tens of millions of job opportunities during the Great Recession, which delayed their careers. They also are choosing to get married older, and they have six times as much student loan debt as baby boomers. Forbes says because of these economic experiences, millennial shoppers think more critically about how they spend their money.
