WEBINAR: Millennials Disrupt Shopping: The New World of Connected Shopping
Millennials are a strong and powerful influence in the retail segment and are disrupting traditional shopping patterns with their instant, constant connectedness. Powered by mobile and social media, they’re skilled at comparison shopping and demonstrate a laser-like focus on finding the best deal.
As our new study details, the primary purchase influence for millennials is price. They readily prefer the added savings of rebates over instant discounts, and lead the way in digital wallet use. They rank gift cards as the safest method of making online purchases. Among the other insights:
- 89 percent of millennial shoppers use smartphones to connect to the Internet on a daily basis.
- 55 percent rely on social media as their primary source for shopping news and information, easily out distancing television, which ranked sixth.
- 95 percent of millennials have the same or greater sensitivity to price as last year.
- Google and Amazon are far and away millennials’ preferred method of comparison shopping on smartphones.
- 88 percent would consider buying online and picking up in-store to save $10 on a $50 item.