Millennials Are Now The Power Generation
"Millennials are extremely important because their spending power is growing as their demographic bulge increases," said David Garfield, managing director and head of the Consumer Products Practice at consulting firm AlixPartners LLP. "It will continue to increase for a number of years and, in the not too distant future, they are going to be wielding more of a collective wallet." Said David Miller, chief marketing officer for West Des Moines, Iowa-based Kum & Go LC, a rapidly growing chain of 400-plus convenience stores, "They have discretionary income, and I think for a convenience store like Kum & Go, we fit perfectly into their lifestyle needs. They have been key to our success and continued growth."