Millennials' Spending Power to Increase by 2017

To engage millennials, or those between the ages of 17 and 34 who collectively are expected to spend more than $200 billion annually starting in 2017 and $10 trillion in their lifetimes, companies should engage them with social media, Advertising Age said. When millennials provide feedback, companies should acknowledge it, the story said. This demographic forms intense brand loyalty, with 70 percent claiming they come back to brands they prefer.

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