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Estimated at 25 percent of the total U.S. population, Millennials annually spend more than $200 billion, and according to a survey from Bazaarvoice, Gen Y is changing the way the world buys.

Bazaarvoice, a social media marketing group, reports that Millennials value the opinions of friends and family less than previous generations when buying, rather preferring to consult user-generated content. More than 80 percent of Millennials say user-generated content has “a lot” or “some” influence on their purchasing, compared to 70 percent of baby boomers. And, according to Bazaarvoice, many Millennials even refuse to make some purchases without consulting user-generated content.

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