If you are engaged in e-commerce and have not been targeting Millennials as customers, the question is, why not? They are the biggest demographic in the United States and are proving to be an economic force. Need proof? They are responsible for the rise of companies like Chipotle and for a decline in breakfast cereal sales (they can’t eat it on the go). If you ignore Millennials, you do it at your own peril. In just five short years, they will be the majority of the workforce. So it makes sense that if you want your e-commerce company to flourish and not just survive, you need to know what Millennials expect from online stores.
The Largest Generation
You probably deal with Millennials every day, if you are reading this, you most likely are a Millennial. For those who are older or very young, here is what you need to know about Millennials. They were born between the years of 1982 to 1997 and are a larger demographic than the Baby Boomers. It is said that Millennials seek a work versus life balance. That may or may not be accurate. What is undeniable is that Millennials disproportionately spend time on mobile devices and do far more online shopping than any other demographic. If you seek to be successful in e-commerce, there are some things that you should be aware of about how Millennials shop.
Understanding Millennial Online Shopping Habits.
As with any target demographic, the first step to understating them is by studying their habits.
- They spend hours online, usually through a mobile device.
- E-commerce is their primary method of shopping for everything, excluding groceries.
- They are the most frugal generation since the Great Depression spawned the Greatest Generation.
- Millennials trust product reviews over recommendations from friends and family.
- They react more favorably to branding that is deemed “authentic” than to glitzy ad campaigns.
- Millennials have no patience with regards to how long it takes for a site to load, even more so if that is on a mobile phone.
- They expect your site to be optimized for mobile use.
- According to Forbes, If you have a retail location Millennials say in-store pickup is important to them.
Why Millennials Are Ideal for E-Commerce
You may think that Millennials are cheap and penny-pinchers from the stories that have circulated in the news, and while yes they are cautious with their money they still spend it. In fact, data from multiple studies show that they are willing to pay higher prices for things like same-day delivery. Convenience is something that Millennials are willing to pay a premium for, repeatedly. That means that if you want to ensure that you attract the attention of the biggest generation in U.S. and Canada, you need to not only provide speedy delivery, but you need to make your website mobile-friendly and uncomplicated.
While having a lot of animations and vivid graphics certainly are attention-grabbing, it can be too much of a good thing when it slows down the customer’s path to checkout. Do you really want your customer to have to take more than three steps to purchase a product? This obstacle can be a deterrent to more than just Millennials.
Because of their propensity to shop online and pay for quick delivery, Millennials are ideal e-commerce customers. There has never been a more ready-made generation for online shopping.
Need Help Appealing to Millennials?
If you are an e-commerce-based company and want a website that will appeal to Millennial sensibilities, then Mosier Data can help. Call us or complete our online contact form. One of our friendly staff will be happy to discuss your website.