Effects of Millennials Online Shopping Habits
Millennials have changed the face of online shopping significantly. They have been rated as part of the highest spenders in online shopping. This group, which is commonly known as Generation Y, was the first online shoppers since they had money and the internet. There are quite a number of common habits that can be traced in the Millennials as far as online shopping is concerned.
From our findings, we established that the Millennials have an annual spending ability of $200 billion. Most people wonder where the Millennials get the money for online shopping since a good number do not have well-paying jobs. The truth of the matter is, most of them depend on parents and still live with them. As such, they have a huge amount of disposable income which will influence the Millennials online shopping habits.
Most of the Millennials have smartphones and tablets which have triggered the tremendous growth in mobile shopping. In the UK, it is estimated that 86% of the Millennials bought something through the internet. The infographic below will also show that more than 45% of the Millennials will spend more than one hour on the internet.
The Millennials’ shopping habits indicate that they will browse through various stores. This is in a bid to find whatever they are looking for at the most favourable terms. Most of the Millennials have cited the convenience of mobile shopping as one of the main reasons why they prefer shopping online. There are so many other factors and benefits that they seem to derive from the mobile commerce.
There quite a number of changes that have been influenced by the Millennials’ mobile shopping habits. Any serious online vendor must come to terms with the Millennials online shopping habits so as to remain relevant.
Please take a look at eReviews’ infographic for visual presentation of this information about the Generation Y: