It’s clear that Millennials are forging their own path in many ways in this world. But when it comes to shopping, is their path to purchase any different from other age groups?
The answer: Not completely different, but there are some key distinctions. Here’s what we learned from generational research compiled recently by the Alliance Data businesses:
- Millennials do their homework. Before purchase, members of this age group are four times more likely to visit comparison shopping websites, and three times more likely to visit couponing sites, to find the best deals. About 34% use a smartphone to look at product reviews while they’re in a store shopping.
- They are totally comfortable in the digital world. Among Millennials, 39% of all retail purchases are made online. 65% of Millennials are comfortable making online purchases with their phones, 84% use smartphones to assist with shopping in-store, and 14% pay for purchases in-store using a smartphone.
- They like to share. 22% of Millennials are influenced to make purchase decisions based on their friends’ social activity. 16% share a product comment or photo after purchase via social networking.
Marketers who are targeting the Millennial generation will want to keep in mind not only the mobile platforms Millennials prefer, but also the connectivity and propensity toward sharing demonstrated by this smart and savvy group of shoppers.