Millennials are changing the face of retail.

Smartphone equals smart shopping - A staggering 85% of millennials use their smartphones to search for discounts while shopping. Millennials (22-37 years old) grew up in an era of technology, with unlimited access to information and while Millennials still enjoy shopping in bricks and mortar stores, they want real-time access to pricing and reviews as they shop.

That means they want to not only be able to look up coupons on their phones, but also reach out to customer service and check product stats.

While many graduated in a backdrop of high unemployment, lower salaries and massive student loans; Millennials are now reaching increased buying power and marketplace influence.

Millennials do consider the environment when making purchasing decisions and have no problem buying secondhand, which may explain why secondhand stores are growing remarkably faster than traditional retail locations.