A study in 2015 found out that millennials use their smartphones as devices for their Lakeland shopping habits. They compare prices, check out items on sale, and decide on what to purchase based on the results of their online searches. This, according to the study, is revolutionizing retail patterns.
If you want to learn more about the shopping habits of this generation, here are a few more the study found out:
Smartphones are the primary means for internet connection
About 89 percent of millennials use the smartphones to connect to the internet and engage in various activities. This is a leap from the 75 percent who use the laptops, 45 percent who use the tablets, and 37 percent who use the desktop computers. Retailers should have a mobile-friendly version of their websites, so millennials can hook up with it and see what your store has to offer.
Social media is a source of information
These millennials are hooked to the internet 24/7, which means they can access the social network wherever they may be and in whatever time they choose to be active there. Most of their shopping decisions come from what they see on their Facebook, Twitter and Instagram pages. Why do you think Kim Kardashian is being paid to simply tweet a bar’s name? The influence is palpable. Retailers need to integrate digital media into their traditional marketing strategy. Don’t just be active in traditional media such as newspaper and television. Make it a point to have a digital presence, too.
Prices are being challenged
Pricing has the greatest influence on a millennial’s decision to purchase an item or not. They factor this together with the brand, quality, store and availability of the product. This sensitivity to pricing can only be explained by their access to the internet and their ability to compare prices instantly. As a retailer, you should be prepared to take into consideration the millennial’s love for discounted price tags.
Rebates are preferred
Instead of giving them instant discounts, why not offer them rebates for their purchase? The study found out that millennials want something that will provide more savings instead of receiving a free item from the store. Retailers, however, should tread carefully because millennials dislike deceptive promos and rebate programs that are difficult to redeem.
Buy Online, Pickup In Store is accepted
Millennials who buy stuff online actually prefer to pick the items in store rather than pay extra for having it delivered. Most of them said they can save $10 to $50 if they just find the time to swing by the store for their items.