Millennial shoppers are more likely than the average consumer to be influenced in their brand choice by loyalty card discounts; coupons; in-store displays, kiosks, or circulars; and product packaging, according to SymphonyIRI Group. They’re also 30% more likely than the average consumer to purchase brands because other members of the household requested them.
Millennial shoppers are more likely than shoppers overall to cite smartphone apps, recommendations or information from social networks or blogs, and mobile advertisements as influences on their brand choices.
Millennials are 14% more likely than the average consumer to choose retailers based on a “fun” shopping experience, but low everyday prices and a good selection are their top criteria. They’re 9% more likely than average to seek out retailers that allow them to do one-stop shopping.
Millennials are more likely than the average consumer to engage in frugal behaviors to save money, including cooking at home rather than eating out, limiting use of convenience foods, and doing at-home beauty treatments instead of going to hair salons or spas.
Source: “Millennial Shoppers: Tapping Into the Next Growth Segment,” June/July 2012, SymphonyIRI Group, John McIndoe, SVP Marketing, and Susan Viamari, Editor, Times & Trends, 150 N. Clinton St., Chicago, IL 60661; 312-726-1221; john.mcindoe@symphonyiri.com and susan.viamari@symphonyiri.com; www.symphonyiri.com. Price: Available online at no charge.
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