Will The Ongoing Recession Create A Generation Of Stingy Buyers?

When you leave college and enter the "real world", you expect a number of things with your college degree... like a house and a car and a job that'll pay for all these things. But an article in WWD points that joblessness among the 18-29 year olds hover around 14.8%, which is likely to affect their spending habits for the rest of their life. Says Nancy Koehn, retail historian and Harvard Business School, "They're like cookies coming out of the oven. They're hardening in this environment. There's no question it's going to affect how they think about what they buy, how they approach consumption." Spending less on food, clothing, and entertainment than their parents, Millennials have been noted to flock to real-time barter systems like eBay, flash sales like Gilt, or coupon websites like Groupon to get their goods, which is definitely something for e-tailers to think about as e-commerce becomes more of a requirement for brands. (WWD)

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