What’s in Store
for Retailers?
In 2017 we ran a nationwide consumer survey on shopper behaviors and trends affecting retailers.
In late 2019, we conducted the Retail Experience Index for a second time. Our report outlines what, and who, will shape shopping in 2020 and beyond.
Millennials average 1.5 more
major purchases* than other generations
Gen Z
0
Millennials
0
Gen X
0
Boomer
0
Silent
0
likely to research financing
0
0
likely to explore financing in store
0
0
Millennials may
spend more,
but they’re
also thoughtful.
~$4K per year on
major purchases
4.4hrs researching
large purchases
More than any other generation
*Purchases of $500 or more
Retail cardholders simply spend more.
Nearly $700 more!
major purchases
0
0
open to financing
0
0
Spending is trending.
Here’s what’s changed in the retail environment since 2017.
Average annual spending increased
by $245 on major purchases
0
2017.
0
2019.
Consumers are less than half as likely to make a major purchase
on their first visit to retail.
Likelihood of making a major
purchase in the next six months.
0
2017.
0
2019.
Shoppers do 0 more research on mobile devices
before making a large purchase
“It’s important that retailers work with partners who will help them analyze data and behaviors to create new programs that cater to their customer bases across generations, preferences and levels of incomes.”
Mike Rittler, General Manager of Retail Card Services, Personal Lending and Business Development, TD Bank, N.A.