Millennials are trendy, right? They love boutique shopping, finding new stores that no one else has heard of, and being a step ahead of the curve – or so you thought. It would probably surprise you to know that shoppers age 24 and under love to shop at the retail Big Brother, Walmart.
Millennials shop at Walmart more than Generation X and Baby Boomers, and it doesn’t exactly fit with the current popular perception that we are making a move as a country away from big box stores and toward niche brands, small stores, and e-commerce. Yet here we are, and the statistics don’t lie.
What is even more surprising is that millennials prefer to grocery shop at stores like Whole Foods and Trader Joe’s, which are notoriously more expensive in exchange for better quality and organic selection, but don’t prefer Costco, the ultimate money-saving super store. Why is this younger generation more likely to splurge on a snack, but not willing to give up cheap king Walmart?
We all thought that this younger generation was too good for the infamous big box store, but apparently we were all fooled. How could this be?
- Millennials are all in a stage of their lives where they are time crunched. Most are post grad, developing relationships, buying first homes, and having children, and need a quick, one-stop shop.
- Their low prices really resonated with millennials after the economic downturn. Walmart was their savior in times of hardship.
- They were the first generations to grow up in a time where Walmart was a dominant retailer, and the store has come to feel like home.
- Walmart has invested heavily in e-commerce and mobile, attracting a younger audience. Walmart engages in a great deal of e-commerce research, finding what people are searching for online and seeking out deals with those brands, no matter how obscure.
Maybe, this isn’t a reflection of the generation at all, but a coming-of-age trend. It is increasingly more difficult to establish yourself in your twenties, with stiff job competition and competitive degree programs. Millennials are at that age when they are constantly pinched for time and money, and Walmart solves both of those problems – it’s a one stop shop for cheap goods that is familiar and always conveniently located. When the next generation reaches this trying age, will they make the same decision?
