, H Squared Research chief retail analyst, told Yahoo Finance. "They are the ones that talk about and share trends and they are the one that creates a buzz and with that sort of force, and it's almost like built-in marketing. Once you get the interest of that younger generation, that is what is going to kind of create that tsunami of business."Social media plays a large role in product discovery for younger shoppers.
Millennials' purchases were also influenced by social media followed by Gen X and baby boomers .that polled 1,000 adults revealed that about 61% of young adults 18 to 24 have $1,000 or less in their savings, while 31% have $100 or less."There's a lot of factors, but a lot of this generation is probably living at home still or living in situations where they don't have a lot of overhead costs to have to pay for," she said.