This research aims to find out the factors, which affect the buying or purchasing behavior in millennials. This research is being done because a lot of previous research only creates a stereotype on GenY. The previous research contain so many gaps and this paper tries to fill those gaps and give an overview on the GenY or Millennials behavior on purchasing. Two major point-of-view camps based on exhaustive literature review are as follows. Firstly, while we have a better understanding of college students brand loyalty, it has been recognized that college students represent only a segment of Gen Y and also recognize the sample of college students used lacks racial and ethnic diversity, and has slightly skewed gender representation. There are limitations of self-reported purchase behavior. Asking subjects to recall past purchase behavior has the potential to induce bias. The use of actual point of sale data would be useful. Secondly, the research did not consider the buyer's perception of the ease or difficulty of performing a given behavior, which may vary across situations and actions. These are the few reasons we need to eliminate in our study, we aim to elaborate on factors affecting the buying behavior of millennials in this paper.