Who are the millenial shoppers and why you should target them for your business. Here is our latest study on the topic:
Our recent study suggests that 33% of women and 40% of male online shoppers between the ages 15 to 28 admitted that they would buy everything online if they could. That means that this demographic is leaning towards more and more online offers and this number doesn't seem to be slowing down anytime soon. Furthermore, 45% of them admitted that they spent an more than an hour each day browsing trough retail oriented websites.
These statistics should indicate that millenials more than ever are ready to embark in a completely digitized buying experience and the majority will soon bend towards online shopping only. This should be a signal for anyone trying to get access to this audience. Making your visitors' experience a memorable a seamless one should be your priority trying to access millenials.
86% of millenials reported that they have made a purchase online in the last 12 months, which is astounding. Millenials have reported to have made a purchase trough a mobile device such as a smartphone or a tablet 59% of the time in comparison to 57% via a laptop.
This represents a major shift in consumers' online buying habits. Laptops used to be the medium of choice for most purchases and interactions made online, but as the world is becoming more and more mobile friendly, mobile platforms are becoming more and more popular and are actually outscoring laptops.
This means that if you don't work to make your marketing efforts and sales material mobile friendly, you will get severely penalised. Marketing efforts and offers that don't take advantage of all the possibilities mobile marketing has to offer are set to fail in this day and age.
Google has made it very clear that they will take steps to penalize any website that doesn't have a sound mobile plan. Meaning that site that aren't mobile friendly will see a sever drop in rankings and might disappear from their index altogether, so if you want to still stay relevant, you'll have as a business owner make the decision to make the jump and make your website available on all platforms.
Social proof is now so easily accessible and verifiable that it has become ubiquitous in almost every transaction conducted online today. Sites like Yelp and other review sites allow customers to research thoroughly before they make a purchase.
86% of millenials recently reported that they'd rather follow the independent advice from customers on a particular website than their friends and family. Meaning that they would rather believe the word of complete strangers rather than listen to their close relatives. This can be attributed to the fact that independent opinion is unconsolidated most of the time and that it comes from completely independent sources. Also, these opinion often come from actual purchases, not word of mouth, which adds credibility.
89% of millenials reported that real time availability would influence where they shop and 36% even said that they would be ready to go online to a retailers store if a particular product wasn't available at their physical store. This should be a warning to brick and mortar store owners everywhere.
Millenials are a very savvy bunch and have no quirms about spending their money online, unlike older demographics. In addition, we could see a world where most transactions will be made online as these millenials grow older.
For millenials all signs point to online shopping being the shopping option of choice for the next few years. So if you, as a business, has no specific plan to access this demographic, then you should reconsider your strategy.