Consumers expect to spend more this holiday season than in the past, according to new research by Accenture.
The “12th Annual Accenture Holiday Shopping Survey” found that Millennials, in particular, will shell out the most compared with other generations. The study, which surveyed 1,500 U.S. consumers, also looked into what’s driving Millennial purchase intent. The consensus? Millennials are more likely to buy from brands that demonstrate inclusion and diversity.
Indeed, 70% of younger Millennial respondents (ages 21 to 27) and 69% of older Millennials (ages 28 to 37) stated that a brand’s focus on diversity and inclusion in promotions and offers influenced their purchase decisions. Furthermore, 66% of younger and 72% of older Millennials said they expect diversity and inclusion in the store experience and within a brand’s product range (68% of younger and 70% of older Millennials).
“Millennials expect more representative messaging and marketing than generations past,” said Jill Standish, senior managing director and head of Accenture’s retail practice. “They want to see dads in the supermarket, different ethnic backgrounds, representation of the LGBT community, as well as those with disabilities, and they want body size and body type to be diverse and inclusive. And I think the fact that this younger generation can feel that and care about that is wonderful. It’s sending a message to retailers, and it’s something that retailers are really going to have to pay attention to.”