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While we were watching Friends, drinking Pepsi Blue, and texting in T9 on our Motorola Razrs, these words were nearly non-existent. Hard to believe, right?
A lot has changed since then, including the large increase in spending power of the 15-38 age group, referred to as the Millennials. And by large, I’m referring to buyer power valued at over $3 trillion. Starting in 2017, the Millennials are collectively expected to spend more than $200 billion annually and $10 trillion in their lifetimes. Millennials are also considered to be extremely influential to the buying practices of older generations.