OREANDA-NEWS. January 25, 2016. By the year 2020, the retail and manufacturer landscape will undoubtedly change. But despite the myriad ways trends could shift, one thing will become increasingly salient for retailers: They need to pay attention to Millennials.

That’s because not only does this generation now account for about one-quarter of the U.S. population, its buying power will grow as these consumers get older. So as members of this group mature into a main consumer group, retailers and manufacturers alike will need to account for their needs, buying preferences, changing geographic locations and increasing spending power.

Nielsen projects that U.S. consumer spending will hit \\$5.7 billion by 2020 in retail and on-premise eating and drinking locations. That’s a figure retailers and manufacturers should be focused on if they’re interested in claiming a piece of that growth. And the first step is knowing where to find it – and that means finding Millennials.

When it comes to tracking Millennials down, many seem poised to make a move in the near term. In fact, only 25% of Millennial respondents to a 2015 Nielsen survey said they plan to live in the same area they live in now over the next five years. That means 75% of up-and-coming spenders plan to relocate, mainly to large cities and college towns.

As Millennials age, like previous generations, they’ll seek refuge in the suburbs with homes of their own. The Demand Institute’s “Tale of 2,000 Cities” study forecasts home prices in the large metropolitan areas could increase up to 33% above 2012 prices. This increase in home value will likely be driven by Millennials as they seek to put down roots.