Where Gen Y Will Shop in 2012

The worst may be over for retailers, but those who want to boost and sustain sales should listen up. New data released by American Express Business Insights and IBM Global Business Services holds some important information about consumer spending habits.

Here’s the takeaway:
Luxe is Getting a New Life
According to American Express, 18-29 year olds were hot to purchase high-end goods last year. From “It” bags to vertiginous heels and fine jewelry, Gen Y consumers ramped up their spending on premium brands by 33 percent in 2011. To satisfy this ravenous new group of big spenders, retailers must stay on top of e-commerce and mobile apps, in addition to keeping the traditional brick and mortar experience as customer-service oriented as always.  Read more

on February 23, 2012