With today’s ever-increasing access to online and mobile shopping, many people believe millennials are impulse buyers, less brand loyal than previous generations and lead the way in succumbing to instant gratification.
However, a new study from Thinkover indicates that these commonly believed millennial shopping habit myths have been busted.
To gain insight into the true shopping habits of today’s generation, Thinkover surveyed more than 1,000 millennial women to determine their perspective on how they shop online, which factors are most influential in the purchase process, and what they're looking for from brands.
The results revealed that while 94% of millennial women are spending over one full hour per day online shopping, they actually take a fairly long time before making the final purchase. In fact, the data shows that 62% of respondents consider themselves “wait-until-later” online shoppers and wait an average of one week between seeing an item and purchasing. Moreover, 60% hold off on impulsive purchases so much that they admit to frequently forgetting about items that once interested them.
The study also found that the majority of these women like to compare items that they are considering, prefer to monitor and wait for sales before making a purchase and also value the opinion of friends and family for items they want to buy.
As we enter the busy holiday shopping season, retailers can benefit from Thinkover’s insight into the preferences of millennial shoppers in many ways. First and foremost, the data proves that offering attractive discounts and alerting customers of these sales are the best ways to attract millennial shoppers. Additionally, since the study shows the importance of feedback from friends and family for millennial women, retailers should seek to provide interactive and easy-to-use options for customers to share their shopping choices. Lastly, retailers should offer frequent alerts and email reminders to consumers when items are left behind in shopping carts or saved to ‘wishlists’ in order to combat millennials’ tendency to forget about their intended purchases.
For more insight into the shopping habits of millennial women, check out the infographic below:
However, a new study from Thinkover indicates that these commonly believed millennial shopping habit myths have been busted.
To gain insight into the true shopping habits of today’s generation, Thinkover surveyed more than 1,000 millennial women to determine their perspective on how they shop online, which factors are most influential in the purchase process, and what they're looking for from brands.
The results revealed that while 94% of millennial women are spending over one full hour per day online shopping, they actually take a fairly long time before making the final purchase. In fact, the data shows that 62% of respondents consider themselves “wait-until-later” online shoppers and wait an average of one week between seeing an item and purchasing. Moreover, 60% hold off on impulsive purchases so much that they admit to frequently forgetting about items that once interested them.
The study also found that the majority of these women like to compare items that they are considering, prefer to monitor and wait for sales before making a purchase and also value the opinion of friends and family for items they want to buy.
As we enter the busy holiday shopping season, retailers can benefit from Thinkover’s insight into the preferences of millennial shoppers in many ways. First and foremost, the data proves that offering attractive discounts and alerting customers of these sales are the best ways to attract millennial shoppers. Additionally, since the study shows the importance of feedback from friends and family for millennial women, retailers should seek to provide interactive and easy-to-use options for customers to share their shopping choices. Lastly, retailers should offer frequent alerts and email reminders to consumers when items are left behind in shopping carts or saved to ‘wishlists’ in order to combat millennials’ tendency to forget about their intended purchases.
For more insight into the shopping habits of millennial women, check out the infographic below:
