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Does Brand Loyalty Mean Less Now?
Mad Money’s host Jim Cramer believes that millennials care less about brand names and customer loyalty, which inherently affects the stock market. While in the past, younger generations were quick to continue purchasing the same brands as their parents to maintain loyalty, today’s internet shopping and ability to easily find the best prices is shaping shoppers’ habits very differently.
So, who is successful in this day and age? Cramer uses the acronym FAANG for Facebook, Amazon, Apple, Netflix and Google, who all use big data to research the trends and devise their platforms around what works best for their target demographic. As big stores are beginning to feel more and more interchangeable, Cramer still believes investing in stocks can be worthwhile.
His advice is to follow the generation that’s rocking the market – “they like restaurants, that’s Yelp, they like trips, that’s Expedia…”
For comments, questions or concerns, please contact Daniella Soloway
