13 surprising retail habits of millennial shoppers
13 surprising retail habits of millennial shoppers
Millennial shoppers have been identified as among the most fascinating since they have peculiar habits that ensure retailers and online shops get to device the ways to capture their needs and preferences. The only way to market to the millennial generation is to identify what makes them tick and what they are tuned to go for especially when the shopping experience is considered. Here are 13 surprising retail habits of millennial shoppers that retail store owners must take note of.
Millennials need to have all the shopping done at one place which means they concentrate more on one-stop shopping. For millennials, the buying experience matters more and this means they prefer everything to be under one roof for convenience and easy payment.
Go with the trend
Millennial are obsessed with fashion and this means that they are tuned to go to the retail stores that are in synch with the sense of trendy fashion. Most millennials will only visit a retail shop that speaks to the fancy they have of being motivated by lifestyle.
Self-checkout is key
Payment experience is key for millennials especially considering they tend to have multiple devices that are usable in the same setting. Devices for millennials means they have an online handheld-wallet for making purchases. Retail spots with self-checkout options that enhance the buying process therefore have a better chance of attracting millennials.
Loyalty to a brand name
Millennials are loyal to a brand name whether it is the brand of the product or the retail store. Millennials are characterized as having the capacity to visit Target and Walmart and get brand name products like an iPhone due to the loyalty and connection they have.
One surprising factor about retail shopping for millennials is the reality that they are impulsive buyers. They shop with impulse and this is why retailers have taken advantage of this phenomenon by highlighting products and placing them in close proximity since millennials are known to make the buy.
Millennials are arguably the pronounced generation when it comes to social shopping. Millennials are known to go shopping with friends and this influences their decision-making when it comes to products.
Before millennials settle on a particular product in the retail space, in-depth comparisons characterize their shopping process and this is what leads to them evaluating varied product elements including price and quality.
Go for personalized goods
A surprising and funny element of millennial shoppers doing their shopping in the retail stores is their inclination to go for personalized goods. As much as they also compare prices and costs, personalized goods appeal more to the millennials since they define the aspect of uniqueness that they crave.
Sensitivity to price
What many retailers are fast discovering is that price influences purchases in the retail space especially when millennial shoppers are taken into consideration. The price setting comes before availability and quality which is a core phenomenon that retail marketers must understand over time.
Attracted to rebates and discounts
Millennials are bound to shop at a retail store if it offers discounts and or rebates. Millennials always believe that they get higher value for less when they target the discounts and rebates. Some millennials are actually known to search for a coupon before making a purchase in a retail store which explains the choice for shopping in a retail store.
Prefer “Buy online, Pickup in store”
A surprising yet intriguing habit that millennials have when shopping in the retail space is their inclination to take up the “Buy online, Pickup in store” option when presented with one. Even in the retail setting, millennials still prefer buying online and picking up the products in store since they believe it is easier and more efficient especially since the digital platform is readily available and efficient.
Go for redeemable elements
Never has a generation been obsessed with redeemable elements like what is being witnessed with millennial shoppers. If there are shopping points and discount panels to be redeemed, millennials opt for those in the retail shops they choose. This is because it offers them a higher buying power by enabling them get more for less which is the admirable advantage of the redeemable platforms.
Embrace loyalty programs
Most millennials will go for retail shopping if they have an incentive to do so. Retail marketers have since identified this phenomenon and have thereby instituted loyalty programs which have massively influenced the habits of millennial shoppers. Using and taking advantage of the loyalty programs stands as the most pronounced habit millennials have. Millennials will readily take up the option to “Have 25% off with our loyalty program for purchases made at our location store” as opposed to buying the product online where they get to pay full price including the shipping cost.