Among the many distinct shopping habits of millennial consumers, there is one retail channel in particular that makes up a significant position of this group’s spending power.
Subscription box services, a growing business model where companies offer customers access to product or service at a recurring (usually monthly) price, are highly favored among millennials, according to a new study conducted by First Insight.
The study, titled “The State of Consumer Spending: Millennials Flexing their Retail Market Influence in U.S. and U.K,” surveyed more than 500 British and 1,000 American respondents on their shopping habits, purchase behavior and influences that drive their purchase decisions. The study looked at how the spending power among millennials is contributing to to heat around several retail models, including subscription box services.
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