Between social media, e-commerce, and emerging technology, the way we shop has changed dramatically. At yesterday’s Fashion Tech Forum, hosted by Gap, Karen Harvey, and partner Elle Magazine at Chelsea Piers in New York City, many panels discussed millennial shoppers—a group born between the ages of 1982 and 1996 that is two billion strong. Millennials grew up accustomed to a certain immediacy and sufficiency and as a result, can be quite demanding. Jamie Gutfreund, the chief marketing officer of research and marketing groupNoise, told a group of some 400 entrepreneurs, CEOs and media personal that the key to expanding or even a launching a business these days is tounderstand the way millennial shoppers work.
“Words often used to describe millennial, or Generation Y, are ‘entitled, selfish, impatient.’ Why do they behave like that?” Gutfreund said. “But really, they are the most misunderstood generation. They live in a real-time world and are looking for efficiency.”
Below are a few guidelines Gutfreund laid out as a way for businesses to keep up with the millennial shopper.
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