Millennials Focus On Budgets

Convenience and budgeting have become more important for Millennials since the pandemic, says a survey from investment banker ROTH MKM and MFour Mobile Research. It says over the last 12 months, 76 per cent of Millennials have reduced their discretionary spending behaviour while 45 per cent of Millennials have started purchasing more private label goods instead of branded ones. Twenty-eight per cent who purchase items online have signed up for auto replenishment subscriptions, which often offer a reduced price per item. As well, 40 per cent who have purchased furniture purchased their last furniture or home goods products online and had it delivered to their home. Fifty-three per cent say they are more likely to buy directly from the manufacturer if personalization is available.