Why millennials are important in mergers and acquisitions

The recent Fed decision will understandably have an effect on how businesses plan for mergers and acquisitions for the remainder of 2015 and next year, but it may not change the importance that millennials have on the overall market. Instead, it is expected that businesses will make appropriate changes to keep themselves relevant to this group.

Why are millennials so important? The reason is simple: growth. In 2015, the number of millennials (aged 18 to 34) are expected to outpace Baby Boomers (aged 51 to 69). A number of companies that are legacy based are expected to make changes to cater their products, and the way they are marketed, to the nation’s largest living generation. 

The way millennials obtain and consume information is quite different from Baby Boomers; which means that their shopping habits will be different as well. Specifically, millennials have been shaped largely by technology. No other age group has been more connected to technology and this does not appear that millennials will be less inclined to use technology in their daily lives as they grow older. Because of this, legacy companies such as Nordstrom’s and QVC are purchasing companies that cater to millennials.

QVC’s audience is growing older at a startling rate. More than half of its customers are aged 60 and greater. Meanwhile, the majority of customers for online shoe retailer Zulily are younger than 50. On the same token, Nordstrom’s customers have traditionally been Baby Boomers. With fewer customers to cater to, the acquisition of online suit retailer Trunk Club was a clear attempt to stay relevant. 

If you have questions about an asset or business that your company wishes to acquire, an experienced business law attorney can help. 

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