Millennial consumer shopping insights and trends
We all love good research and especially when it is about millennials. After all, they account for 21 percent of consumer spend and marketers look for ways to make millennial consumer shopping insights actionable.
Today, marketers can use these insights to influence, reach, activate and accelerate a specific shopper along the path of purchase with added focus on digital, social and mobile trends; millennials; and Hispanic shoppers.
Non-millennial and millennial consumer shopping insights
- Nearly eight in 10 consumers consider themselves value seekers, promotion sensitive or price conscious, as described by themselves
- 71% of those who search the Internet for coupons searched after learning about the promotion via social media
- An average of 67% engage in showrooming, with millennials at a much higher rate
- 40% reported a higher rate of coupon usage when compared to the past year
- 24% noted increases on the use of smartphones to get deals
Non-milennial and millennial consumer shopping trends
While the download of coupons on retailers shopping cards and the search for coupons online trend continues to grow, the price conscious or value-seeking consumers still prefer finding coupons in traditional media. Fifty two percent prefers the newspaper as a media to receive the coupons. Fifty one percent prefers snail mail. By the same token this research highlights an increase of a 6% point among those who prefer to receive their coupons via mobile.
- 85 % of consumers who use coupons search online
- 33% say they are doing so more in 2013 compared to 2012
- 40% have shared or traded coupons on social media – an increase of 10% from 2012
Millennial consumer shopping insights
- are more likely to buy online after checking out products in store
- are more likely to combine online and print coupons or manufacturer and store coupons
- require up to one-third higher coupon value to engage
- 92% of millennials use coupons to plan shopping lists
- 51% of millennials say their coupon usage has increased this past year
Hispanic Millennial consumer shopping insights
The Hispanic shopper has a daunting purchasing power. The Selig Center projects that by 2015, Hispanics are expected to control $1.5 trillion in spending.
There are clear differences among Hispanic shoppers especially in their engagement with digital, mobile and social media.
- Hispanic use of online search has increased
- Hispanic use of smartphones and frequent shopper/loyalty cards have increased
- Hispanic shoppers are much more likely than their non-Hispanic counterpart to combine print and digital offers
- 95% of Hispanic Internet users download coupons from retailer websites or mobile apps before shopping
- 70% have used a coupon found on social media; a 16% difference from all consumers.
To find out more about marketing to Hispanic Millennials, read “Hispanic Millennials require New Marketing Strategies”
Source: Valassis Shopper Marketing Report – This report is based on findings from a national consumer panel and was fielded in conjunction with Ipsos, a market research firm with expertise in Internet surveys. Responses were weighted by factors obtained from national census data to provide appropriate representation of demographic groups. The Shopper Marketing Report compares millennials’ purchase behavior with generation X and baby boomers.