Millennials Favor one-day delivery while older shoppers look for low cost

July 16, 2019 - Comment

Millennials (that born 1983-1998) are the third-largest living generation in the US by population and form the most significant part of the labor force. As younger millennials enter the workforce and older millennials progress in their careers, this generation’s income and spending will only increase. It’s no surprise that retailers and brands continue to refine

Millennials (that born 1983-1998) are the third-largest living generation in the US by population and form the most significant part of the labor force. As younger millennials enter the workforce and older millennials progress in their careers, this generation’s income and spending will only increase. It’s no surprise that retailers and brands continue to refine their strategies to capture spending by the millennial cohort.

In this article, we review recent data to see how millennials’ online shopping preferences and behaviors differ from older age groups.

Each quarter, we ask consumers what’s important to them when shopping online, and our latest data shows free shipping and low prices are less significant for millennials than they are for older age groups. Instead, millennials are more likely than their older peers to prioritize convenience:

The significant distinction is in same-day delivery: millennials are significantly more likely to say it is an essential factor: Around 45% of millennials say same-day delivery is essential. This underscores this generation’s demand for convenience online.

Where do millennials go first when they research purchases online? Perhaps unsurprisingly, Amazon is the most popular first stop. However, millennials are much more likely than consumers on average to begin their shopping research on Google. Google and Amazon are almost neck and neck as initial research destinations for millennials. Around one-third of this generation says that each of these is their first stop for online product research. This suggests that younger consumers may be more conscious of limiting their options if they start their search on a retailer’s website.

Comments

Write a comment

*