Everyone is different and traits vary from person to person. As a result, people shop differently based on personal preference, experience, and inclination. As the world has progressed into a more tech-savvy era, technology such as the Internet and mobile devices have captured a share of the shopping experience, especially for millennials. In an article on Forbes, Daniel Newman (@danielnewmanUV) divulges some points that will help brands better cater to millennials and their shopping tendencies.
Brands that have yet to implement a mobile strategy, including mobile optimized sites, risk losing the large demographic of millennials. We all know how attached millennials are to their mobile devices, therefore it’s not hard to see why a large part of their shopping is done through their devices. These portable and convenient devices are making the shopping experience faster, smarter and cheaper for consumers. In a 2013 study, Global Mobile Media Consumption: Reaching Millennials, the statistics show that 79% of millennials said that mobile introduced them to a new brand or service, 71% agreed that mobile ads provided better options, 73% found mobile ads to be helpful in capturing nearby deals, and 49% said mobile ads influenced in-store purchases.
Millennials make real-time decisions and have sped up the decision process of their shopping journey thanks to the information made easily accessible. If brands want to keep their attention and influence their purchases, they need to provide better and faster experiences than their competitors. This entails quick responses to feedback, queries, and any other customer interactions. Only by being proactive will brands keep up the pace with millennials and their ever-changing preferences.
In a study titled, On Solid Ground: Brick-and-Mortar Is the Foundation of Omnichannel Retailing, researchers found that millennials prefer to use multiple means to shop - both online and in store. Another study found that 19% of millennial shoppers buy products online before picking them up in store, compared to the 12% of non-millennials. We live in a world where shopping is a multiple device and channel process, therefore it’s essential to market at every outlet.
The millennials have a lot of influence over other generations, affecting the shopping activities of parents, grandparents, and Gen Xers. The overall preference of shopping experience seems to be a blend of online and offline. Brands need to realize this and start catering more to the mobile-developed world if they want to stay on top.