Youngs markets have been the most-visited in 2018.
But a survey from the Future 2030 group, which tracks the rise of millennial consumers, found that youngs shoppers were far from the only ones who are struggling to find what they want.
Youngs consumers are increasingly interested in lifestyle brands like luxury brands, travel, and clothing, but they’re less interested in traditional brands like cosmetics, clothing, and home furnishings, according to the Future 2020 report.
A large part of the reason for this is that consumers are not willing to spend big on traditional brands, said Adam Mehta, Future 2020 director.
Instead, youngs are looking for more affordable options, he said.
“This is a time of change for millennials,” said Mehtas, adding that many of them are looking to go the more affordable route to buy their next purchase.
The Future 2020 survey also found that consumers aged 25 to 34, who were looking for a better lifestyle, are far more likely to opt for luxury brands like Tiffany and Versace than they are for brands like J.
Crew, Burberry, and Louis Vuitton.
Youngs shoppers are also more likely than older generations to buy on impulse, according the survey.
“I think that millennials are a little bit spoiled with the luxury brand of the moment,” said Mark Wahlberg, a senior director at consultancy Youngbuyer.
Mehta said youngs have grown up with brands like Gap, Louis Vu, and Ralph Lauren.
But as millennials increasingly seek more value from those brands, they’re also becoming less willing to pay full price for them.
If a young person were to try a new brand like an upscale designer brand like Gucci or Valentino, he or she would be more likely not to be willing to shell out full price, he added.
With luxury brands gaining popularity, young people are increasingly choosing to go for quality instead of value, Wahlburg said.
The Future 2020 study also found millennials were increasingly willing to switch brands when they found cheaper options, but many brands they were trying to buy from were no longer available.
As millennials continue to search for value in their shopping experience, they are also increasingly looking for affordable brands.
They are choosing less-expensive brands like Target, Gap, and Target+.
They are also searching for cheaper brands like the Kmart brand, which was discontinued by Macy’s in 2018 and has since been replaced by Amazon.
The Future 2030 report found that millennials were more likely now to buy a pair of shoes online and a home alarm from an e-commerce site than they were a few years ago.
While this trend may be good for the brands that sell them the most, it is also putting more pressure on the brands whose products they are buying, Mehtaras said.
The Gap brand is no longer the most popular brand among youngs, according a survey by Gartner.
Instead, the Gap brand has been the number one choice among young consumers in the past three years, according Gartners.
And with that success comes a price tag that has driven a significant portion of millennials out of the business.
Some companies have taken steps to make it easier for shoppers to shop for the items they need.
In February 2018, Target began offering discounts on a wide range of items including clothing and household items.
But for the most part, the retailer is not offering any discounts on electronics, as some of the companies it sells to are.
Instead it is offering a $100 discount on the new Smart home hub, a $50 discount on a new home automation kit, and $50 off an air conditioner for home owners.