By 2017, millennials will be outspending baby boomers, according to new a survey conducted by Berglass + Associates and Women's Wear Daily. About half of respondents were unaware of millennials' potential spending power, and 60% were not surveying or researching this consumer group. A trademark of this group is reliance on friends to make buying decisions, yet more than 25% of retailers believe online advertising is most influential.

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