Thanks To The Internet, Millennials Are Ruining Christmas
Department stores are beginning to feel the pinch.
Shifts in millennial consumer behaviour have caused concern amongst department stores.
According to a recent U.S. survey, most young adults will be doing their shopping online.
The survey, brought out by the National Retail Federation, projects that although 39% of consumers between ages 25 and 34 plan to spend more this holiday season, few will be making the weary schlep to brick-and-mortar stores.
In other words, shopping habits could be on the verge of changing permanently.
In addition, there is an increase in interest in buying experiences rather than things.
According to a CNBC economist, more money is being spent on eating out and travel.
Weekend bookings at hotels have soared, even with the advent of AirBNB.