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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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Bonnie Brown’s Blooming ‘Brella: Winner of the Blunt + Idealog + Generator umbrella experiment

  • News
  • May 25, 2018
  • Elly Strang
Bonnie Brown’s Blooming ‘Brella: Winner of the Blunt + Idealog + Generator umbrella experiment

The grand winner of the Blunt + Idealog + Generator umbrella experiment has been announced – congratulations to Bonnie Brown of Studio Bon, who will see her design turned into a limited edition Blunt umbrella. Watch this space for details on how to buy one in the near future, or get your pre-order in now. In the meantime, we chat with Brown and have a closer look at her winning design.

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Save money or save values?

  • Opinion
  • May 25, 2018
  • Courtney Devereux
Save money or save values?

As the next generation become top spenders, it is up to them to communicate their values to the market. Below you’ll find examples of local, ethical, mindful and sustainable retailers to support, well also upgrading your wardrobe.

Read more
 
 

#Trending: Shop to showroom

  • News
  • May 25, 2018
  • Sarah Pollok
#Trending: Shop to showroom

Stores are starting to display only sample products are on the rise. Sarah Pollok looks into the new showroom experience hitting our retailers.

Read more
 
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Debunking diversity myths surrounding hiring practises

  • Opinion
  • May 24, 2018
  • Rose Lu
Debunking diversity myths surrounding hiring practises

Flick Electric software engineer Rose Lu has often been the sole woman or sole non-white person in the room in her career, and recently assisted with Flick's hiring process for new engineers. Here, she shares some key learnings on how to hire for diversity – and how to get around the obstacles that often pop up.

Read more
 
 
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