Survey finds Millennials prefer looking for discounts in-store, as opposed to online

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3rd October 2017 15:55 - Retail

  Survey finds millennials prefer looking for discounts in-store, as opposed to online

Survey finds Millennials prefer looking for discounts in-store, as opposed to online: First Insight - a tech company who helps retail customers purchase products for the best prices – conducted a survey asking 750 US shoppers about their shopping habits.   

The survey compared differences between the “Millennials” demographic (18-35 years) and “Baby Boomers” (commonly recognised as those born between the years 1945-1964).

According to CEO of First Insight, Greg Petro, Millennials have typically been identified as the “tech natives”. However, the survey found that across the US, 71 per cent of Millennials are visiting multiple stores in search of bargains, compared to 57 per cent of Baby Boomers whom prefer to search online.  

Based on regional figures, the survey showed that around three-quarters (73%) of Millennials from the North East of the US were more likely to shop in-store, compared to just under half of Baby Boomers (48%).

The percentages of those that prefer to visit retail stores were as followed:

 

North-East

Millennials – 73%

Baby Boomers – 48%

 

West Coast

Millennials – 72%

Baby Boomers – 59%

 

Mid-West

Millennials - 66%

Baby Boomers - 54%

 

South

Millennials – 71%

Baby Boomers – 63%

 

The survey also concluded that there was no connection between Millennials’ wages and their consumer habits. However, Baby Boomers who earn over $100,000+ per year were 17 per cent more likely to search online for deals, than in-store.

Commenting on the survey, CEO of First Insight, Greg Petro stated:

"The retail industry has been operating on the outdated assumption that boomers are shopping for deals primarily in-store and millennials are searching for deals mostly online.”

He added: "The behaviour between these generations is evolving, and to benefit, retailers must recalibrate their approach to marketing, inventory and pricing to attract deal-seekers who may have been overlooked based on outdated perceptions."

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