Research + Studies
Who are the biggest fans of physical retail and shopping centers? Millennials, apparently. Ninety percent of Millennials (those age 18–36) who were out shopping over Thanksgiving Day and Black Friday bought items from physical retailers or through websites operated by physical retailers. Gen-X shoppers (37–52) were close behind at 89 percent, followed by baby boomers (53–71) at 79 percent.
Breaking down those figures further, 76 percent of Millennials and 76 percent of GenX-ers actually visited a physical store (as opposed to using its website) to make a purchase, compared with 56 percent of boomers.
Similarly, more Millennials (67 percent) visited a shopping center during Thanksgiving Day and Black Friday than any other age group. Among GenX-ers, 49 percent visited a center, and 32 percent of boomers did so.
And which age group came out on top in terms of spending more this year than last? That’s right: Millennials. Forty-three percent of Millennials spent more over the two-day period, compared with 37 percent of GenX-ers and 30 percent of boomers.
Among those of all ages who visited a shopping center over Thanksgiving Day and Black Friday, 78 percent shopped, 46 percent patronized a restaurant or other food vendor, and 21 percent took in a movie.
The full report may be accessed here.
By Edmund Mander