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Study Notes

What Millennials Expect While Shopping Online

Millennials are born between 1981 and 1996 and are the first generation to grow up in the Internet age.
They are the largest living generation in the US, with an annual spending of $2.5 trillion.
Companies that win millennials' business stand to enjoy robust economic growth for years to come.
Millennials expect convenience, personalization, social responsibility, user-generated content, mobile optimization, fast shipping, product reviews and ratings, and loyalty programs while shopping online.
67% of millennials prefer to shop online rather than in-store due to the convenience factor.
78% of millennials expect to receive personalized promotions or offers based on their spending habits.
They are environmentally conscious and want to shop from stores that have sustainable practices and offer eco-friendly products.
User-generated content (UGC) has become an effective and trustworthy component of modern content strategies.
For millennials, the website must be mobile-friendly, with fast shipping and a convenient checkout process.
They rely on brand and product recommendations obtained via word of mouth, online reviews, and social media.
Loyalty programs affect millennial brand choices and are more willing to pay a premium in exchange for valuable perks.
Companies aiming to target millennials should consider the seven different segments when coming up with strategies: Economizers, Risk Avoiders, Diligent loyalties, Premium enthusiasts, YOLO-ers, Showcasers, and Explorers.