This year, through our attendance at NACS State of the Industry, the Conexxus Annual Conference and our own Summit 2017, Pinnacle gained valuable insight into what the coming year and beyond will hold for our industry and the economy as a whole. We learned about how consumers are changing how they interact with retailers and how the online experience has moved into the stores themselves. We discovered how the new ‘mobile millennial’ is bringing new technology and innovations to the market – and changing the way promotions are effective. Additionally, new security threats, payment challenges and the labor ‘crunch’ are playing a crucial role in how Pinnacle meets and exceeds the needs of our industry- and innovates for the future.
Millennials – Who Are They? If you are like most retailers, you invest a lot of time and money in building a loyal customer base, and as part of that effort, you are trying to understand and target the up and coming Millennial Generation. Millennials are typically defined as those born between 1980 and 2000, although some studies make them a bit older or younger. This means they range in age from teenagers to early 30-somethings. This group is the subject of many studies and is on pace to be the most studied demographic in history, behind the Boomers who have been studied for decades. Everyone is trying to figure them out. Why?