NPD, Wharton School’s Baker Retailing Center launch study on cross-generational purchasing behavior
Younger Millennials, defined as 18- to 24-year-old consumers, have a stronger focus on technology, video games and accessories.
The NPD Group Inc., Port Washington, N.Y., partnered with Wharton School’s Baker Retailing Center on a study analyzing purchasing behavior of Millennials, Generation Xers and Boomers. The partnership combines insight by the Wharton School of the University of Pennsylvania’s Baker Retailing Center, Philadelphia, Pa., and NPD Group’s Checkout Tracking data to address retailers' demand for comprehensive profiles of consumer buying behavior.
“One of the interesting findings is about gift cards,” says Denise Dahlhoff, research director at the Wharton School’s Baker Retailing Center. “We found that the share of Millennials’ spending on gift cards at mass merchants, convenience stores and warehouse clubs is higher than that of other age segments. Meanwhile, GenX shoppers spend a greater share of their department store expenses on gift cards compared to other generations.”