Implications: I’ve heard similar groans coming from other categories. Some furniture retailers and manufacturers indicate that younger consumers don’t want “rooms” full of furniture, but are more likely to buy piece-by-piece, and seek utilitarian furniture that serves more than one purpose. Some banks have noticed a trend toward the automated customer; younger folks who automatically deposit their paychecks and then use a bill-pay system to cover their bills… making it very difficult to grow the number of highly coveted “services per household” that are a bank’s profit point.
How are younger consumers different from those you’ve served for years? Are you responding? Are they?