Published on November 9, this Advertising Age article discusses Wal-Mart's strategic long term bet on the millennial and their future earning power ten to twenty years down the road.
As reported, a Wal-Mart Omnichannel shopper tends to spend around $2500 annually or +78.6% vs. a traditional brick and mortar shopper and +1150% more than an on-line only shopper.
Today the big spending power lies with older shoppers where Wal-Mart traditionally over indexes. However, with a spend rate of $1400.00 per year, in-store only growth and profits will be limited without investments around Omnichannel and technology!
Wal-Mart's continued over-investment in digital platforms will not only train the consumer to shop it's sites (much like what Target is doing) but allow for additional consumption up-side spend as millennials' earning power increases.
Enjoy!
DC