Question

An important characteristic of the "millennium generation" that retailers need to remember is:

1) they have an annual spending power of nearly $500 billion.
2) they were born between 1965 and 1977 and thus are called the "Children of the '80s."
3) they number less than 50 million.
4) they tend to be more traditional and have a conservative lifestyle.
5) they are a relatively homogeneous group.

Answer 1

The important characteristic of the "millennium generation" is their annual spending power of nearly $500 billion. They are also a relatively homogeneous group.

Step-by-step explanation:

The important characteristic of the "millennium generation" that retailers need to remember is that they have an annual spending power of nearly $500 billion. This means that they have a significant amount of money to spend on consumer goods and services.

Unlike the second option, they were not born between 1965 and 1977 and are not called the "Children of the '80s".

While the third option is close in number, it is not entirely correct as the millennial generation is estimated to number around 75 million.

The fourth option is also incorrect as millennials are known for being more progressive and less traditional in their lifestyle choices.

The fifth option is the correct answer as the millennial generation is considered to be relatively homogeneous in terms of their attitudes, behaviors, and preferences.