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Millennials are eating their money

  • News
  • February 2, 2018
Millennials are eating their money

Marketview has released its latest survey results that show what millennial consumers are really spending their hard-earnt money on.

In a report analysing spending behaviour by consumers aged 25-29, Marketview have found that over the last eight years, these consumers have increased their spending by 56 percent, outstripping their growth in population.

Marketview revealed that in 2017, Millennials spent more on takeaways than they did at clothing, footwear, health, beauty, pharmacy and cosmetic stores combined.

The study showed that less money was being spent on products and more on dining out. Although dining out took first precedence in millennial spending, growth for online shopping also grew.

Figures show that since 2009, these consumers have more than tripled the amount they spend online, now allocating 10 percent of their spending budgets to online purchases.

Managing director of Marketview Stephen Bridle notes that younger consumers are helping keep more boutique places around even as they shop online, due to going out for coffee and such more frequently.

"Millennials are not to be underestimated in their spending power, and ability to alter the retail environment. Retailers need to pay attention to the preferences and spending patterns of this generation if they want to profit from what is a highly valuable group of consumers, and not be left behind" says Bridle.

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First Looks: Inside the VIP Krispy Kreme opening

  • News
  • February 23, 2018
  • Courtney Devereux
First Looks: Inside the VIP Krispy Kreme opening

The Register was lucky enough to be invited to the VIP opening of Krispy Kreme’s first New Zealand store. The opening included a tour of the new distribution centre and even a make-your-own doughnut experience.

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Junk and Disorderly pops up in Ponsonby Central

  • News
  • February 23, 2018
Junk and Disorderly pops up in Ponsonby Central

Junk and Disorderly is the latest pop-up installment to come to Ponsonby Central. The space is a showcase of some collected pieces by the owners who wish to share the message of the store – the art of doing what you love.

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Sneak a peek inside the February/March issue of NZ Retail magazine

  • News
  • February 23, 2018
  • The Register team
Sneak a peek inside the February/March issue of NZ Retail magazine

The latest issue of The Register's print magazine, NZ Retail, is winging its way to subscribers right now. This time, we focus on how poor waste minimisation is sending retailers slip-sliding away from consumers' good books; how to make Amazon work for you; new developments to watch across New Zealand; and retail's top five fastest-growing categories.

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