Millennials are, in large part, driving the shift to ecommerce. Because of convenience, Millennials prefer shopping online even more than Gen Z. This generation grew up shopping online and now—busy raising kids, prioritizing work, and balancing responsibilities—Millennials will opt for convenience time and again. Digital brands should focus on strong omnichannel experiences, free and fast shipping, special discounts, and yes, experiences. Millennials’ oft-mentioned love of experiences translates digitally into quizzes, personalization options, QR codes, AR capabilities, and more.
Millennials Now: Infographic Highlights
Millennials are such a huge segment, it makes sense to consider them in two groups of older and younger, split by age and life stage. Generally, Younger Millennials are still extremely career-focused and want to catch up financially, especially post-pandemic; older Millennials have become very family focused.
- At nearly 25% of the population, Millennials are the largest generation
- Younger Millennials are 26-32 and older Millennials are 33-41
- +1T in spending power in 2020
- The majority are parents
- Millennials are deal-seekers: 45%, the majority, look for a deal or coupon on a website prior to purchase
Millennials Drive the Ecommerce Surge
- 65% agree they will shop more online even after COVID-19 is no longer a threat
Millennials’ Top Discovery Sources
- 52% Family and friends
- 51% Online reviews
- 5% Facebook
- 45% Instagram
- 44% YouTube
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