A Portrait of the Millennial Shopper

Who Are They?Essential Stats

61%have attended

college

55%have full-time employment

48%live in cities

75.3 Mestimated Millennial

population in US

$200 Bin collective annual

buying power

19-35years old

2/3are renters, not buyers

$1.2 Tin collective student debt

The Mobile Influence

Brand-Specific Loyalty

Shopping Habits,by Generation

Loyalty Programs

29% have responded to location-based offers

37%spend more due to their use of digital

69%read product reviews on mobile

92%own smartphones

47%use social media during the shopping journey

Millennials

Diverse, Digital, and in DebtMillennials are adults who are under 35 years old. Collectively, they constitute the largest, most educated, and most diverse generation alive today. They’re price-conscious, digitally native savers, and 82% prefer to shop in physical, not digital, stores. Millennials’ demographic attributes cause them to value low prices, but not at the expense of product quality and commendable business practices.

50% are likely to use branded apps

75% seek out loyalty programs

77% want to download coupons or reward certificiates

60% want to redeem points through an app

29% are likely to respond to daily deals

46% receive text offers

What makes them more loyal to a brand, quality or price?

33%price

55%quality

75%said that it’s important

that a company

gives back to society, instead of just making a profit

62%are more likely to become

a loyal customer

if a brand engages withthem on social networks

Loyal, Idealistic ShoppersThough Millennials crave a good deal, they are loyal shoppers who appreciate fair, tech-savvy loyalty programs, and they are likely to remain loyal to and recommend the brands they trust. For Millennials, “trust” takes two forms: quality and responsibility. Millennials value high-quality products and fair prices. They also expect a company to be socially conscious, give back, and have a positive impact on society.

Different from, yet Influential of Later GenerationsMillennials have different ways of approaching making purchases, and traditional advertising is not as effective on Millennials as it is on Gen Xers and Boomers. This is why retailers should push to leverage social media: getting a personal recommendation from someone Millennials know, even if it’s done online, is the best way to get them to purchase a new product. Personal recommendations convince Millennials of a product’s quality, which justifies its price.Finally, know that Millennials’ overall shopping habits are slowly being passed on to older generations. The more that Millennials shop digitally, the more that non-Millennials will follow suit. Millennials are trend setters.

Packaged foodsand insurance

Ads or advicefrom a saleperson

Non-Millennials(Gen Xers & Boomers)

Sources: Click on any statistic to reveal its source. Primary sources include: Nielsen, Deloitte, Aimia, Pew Resesarch, Forbes, and Goldman Sachs.

Travel and apparel

Word-of-mouth

Millennials

What are you most likelyincrease your spending on?

Do you research products on a smartphone before

making a purchase?

Questions

Do you routinely researchproducts before making a

purchase?

What type of “advertising”makes you most likely to

buy a product?

www.shoppertrak.com+1.312.529.5300

insights@shoppertrak.com

60%

90%

YES

YES

14%

86%

YES

YES

Digitally Savvy Quality SeekersMillennials want good deals, and they’re using technology to find them. That said, they very much value quality and are willing to do plenty of online research on their mobile devices both before they make a purchase and while they shop.