Who has time to keep up with which brands are the coolest when you’re trying to make ends meet? That’s how millennial shoppers — those between the ages of 18 and 34 — are feeling, according to a new survey. Doesn’t matter what the name on the styrofoam cup of high-sodium soup says, as long as it’s cheap and edible.
In a survey done by WSL Strategic Retail, 25% of millennials say they don’t have enough money to cover even their basic needs. When you get to the 35-54 age group, only 17% say the same, and 13% are having a rough go over the age of 55, reports the Chicago Tribune.
Because of that struggle to make ends meet, it seems millennial shoppers just don’t give a darn about which brands they’re buying, and instead are focused on hunting down the lowest prices. The survey found 80% of nearly 2,000 respondents think it’s vital to score the lowest price, and 60% will choose a cheaper item over their favorite band.
In order to score the best deals on ramen and other life necessities, 57% research products online for discounts before shopping, and 63% stick with brands and stores they know they can afford. So that’s kind of like brand loyalty?
Hard-hit millennials less likely to be brand loyal, study finds [Chicago Tribune]