Millennials plan to stick with online shopping, says Report
Millennials, aged between 25 and 40, are showing a strong preference for online shopping even as brick-and-mortar stores rebound from the pandemic.
Millennials, aged between 25 and 40, are showing a strong preference for online shopping even as brick-and-mortar stores rebound from the pandemic. According to a recent survey by ESW, a global direct-to-consumer leader, over 27% of millennials plan to spend "significantly more" online and less in-store this year. In fact, 73% of millennial participants said they intend to spend "the same or more" online in 2023, with only 15% planning to spend less.
The early stages of the pandemic saw a massive boom in online shopping, but as physical stores reopened, many expected a resurgence in in-person shopping. However, millennials seem determined to continue their e-commerce habits. The Millennial Shopping Habits Trend Report from CouponFollow reveals that 80% of surveyed millennials now do most of their shopping online, up from 60% in 2019. Additionally, 56% of them shop mostly on their mobile devices, an increase from 36% over the same period.
Saving money and finding deals remain the most important factors for millennial online shoppers, with 63% citing these as their primary motivations. A smooth checkout process (42%) and product recommendations (22%) have also become significantly more important since 2019. Social media platforms like Facebook and Instagram have a considerable influence on millennial shopping habits, with 54% admitting that these platforms shape their purchasing decisions.
The COVID-19 pandemic has led to a change in shopping habits for 73% of respondents, with 56% shifting their shopping online away from physical stores. This trend is especially prominent among older millennials aged 35-40. As a result, brands must continue to evolve and optimize their e-commerce strategies to attract and retain this increasingly powerful demographic.
In conclusion, millennials are demonstrating a clear preference for online shopping, even as brick-and-mortar stores recover from the pandemic. With a focus on saving money, finding deals, and the influence of social media, it is crucial for brands to adapt their strategies to cater to this tech-savvy generation's shopping habits.
