More and more baby boomers are reaching retirement. Eventually, their spending - some $400 billion annually - will dry up. Not to worry, the millennials are ready to take over.
We've covered the millennial generation before - they're tech-savvy and spend anywhere from $600 billion per year to $2.45 trillion, depending on who's measuring and how.
According to an Adroit Digital study, by 2030, millennials will outnumber not-millennials.
The study sampled more than 2,000 millennials between the ages of 18 and 33 who own both a smartphone and a personal computer. Here's an interesting number:
39 percent of all respondents think that brands that don't advertise through mobile channels, smartphones and tables are outdated and undesirable. And more men than women feel that "mobile is modern."
That almost forty percent represents a large number of people who expect to engage with brands through the mobile devices. Adroit focused on advertising, but it's fair to assume that millennials increasingly expect to engage with the brand for customer service as well.
If you're struggling for a mobile strategy to address this huge market, read our whitepaper on Mastering the Art of Mobile Customer Service.