NEW YORK ( CNBC) -- Millennials are shelling out big bucks on their hunt for value and fashion-forward items, and retailers are noticing as they pounce on the opportunity to capture this burgeoning market. On Wednesday, Macy's M ( M)became the latest retailer to hone in on the spending potential of the Millennials, the country's largest and most diverse generation. The department store chain outlined its multi-year plan to grow and develop its business among shoppers between the ages of 13 and 30 years old. This group is increasingly drawing the eye of retailers as the older Baby Boomer generation shifts its spending to necessary purchases and retirement savings at the expense of more discretionary items.
By Katie Little, Special to CNBC
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