Millennials Shop Differently

Recently released US Consumer Expenditure Survey data confirm what eyetracking studies have been telling marketers for some time.  Our Nimbus eyetracking studies revealed a widening gulf between the shopping patterns observed between younger generations and their older counterparts over the past 5 years.  The eyetracking data revealed differences in dwell times and rejection rates among the different age cohorts.  Not only were there differences in what they purchased but there were differences in price sensitivity and the amount of time spent on considering a specific product before either purchasing or rejecting.  Recent releases of the CES data for 2009 reveal the impact of those shifts in shopping behavior on the distribution of common household purchases.  Some categories of household goods look to be on a declining trendline.  Meanwhile, other newly emerging products are siphoning off the discretionary spending of Millennials.  The problem is that the decision-making process of Millenials has changed and new ways of reaching the younger generations with product information are needed.