Millennials today are digitally savvy shoppers that follow their own path when they buy products.
According to an Alliance Data report, millennials search online before making purchasing decisions, are highly comfortable engaging in e-commerce and use social media to share shopping advice among peers. Unlike other retail demographics, Generation Y consumers take advantage of their digital habits and smartphones to have successful shopping experiences.
Before purchasing products, millennials research extensively on their computers and smartphones. To find the best prices, millennials are three times more likely to visit couponing websites and four times more likely to compare products on multiple websites. Thirty-four percent of millennials also use a smartphone to look up product reviews while shopping in stores. Friends’ social media feeds also play a crucial role in millennials’ pre-purchase decisions. Twenty-two percent of millennials consult their peers’ Facebook, Instagram and Twitter accounts before buying items in-store and online.
Mobile technology and digital habits also influence how Generation Y people shop. Thirty-nine percent of millennials’ retail purchases are made on e-commerce platforms. More than half of millennials (65 percent) are comfortable using smartphones to make online purchases. When shopping in-store, 84 percent of millennials use their smartphones to look up product reviews and other merchandise. Another 14 percent of millennials use their smartphones to purchase in-store items.
Social media is millennials’ primary method of communication after purchasing an item. To talk about the retailer or product, 16 percent of millennials share a photo or review and post to Facebook, Instagram or Twitter. Millennials believe in open dialogue when it comes to their consumer experiences and social media allows them to exchange information with friends and the greater Generation Y community as well.
Brands today might consider tapping into the millennial shopper qualities above to keep this consumer demographic relevant in today’s evolving retail scene.