Millennials are driving retail growth. Experts have been predicting that Millennials are on a financial upswing and according to a TD Bank’s Retail Experience Index, the generation made more major purchases than any other in 2019 (an average of four compared to Xers’ and Boomers’ 2.8), and is the most likely to make a purchase of $500 or more in the next six months. According to the bank, “The myth that [M]illennials aren’t out there putting money into the economy is just that: a myth.” Their research also found that Millennials spend more time researching major purchases than other groups and are more likely to use retail store cards. (Retail Customer Experience, PRNewswire)
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