Retailers Are Desperate To Get The Millennial Dollar
Kmart threw a party at its store in Des Plaines, IL, over the weekend, complete with Scottie Pippen to sign basketballs, a disc jockey and a red sports car—all to lure Millennials.
More precisely, it’s the $600B Millennials spend annually that Kmart is after, and the firm has decided the best way to get a chunk of that cash is to totally rebrand the store, Bloomberg reports.
And it’s easy to see why Kmart is going the extra mile to try and get Millennial attention—when Millennials were asked to recommend a retailer to their friends by the YouGov BrandIndex, Amazon received a recommendation score of 54.3 points, while Kmart couldn’t even manage five points. [Bloomberg]