A recent study by ESW revealed that millennials are favoring online shopping this year. Most of those surveyed said not to buy products in traditional stores.
The company that led the investigation aims to help retailers expand their e-commerce channels. The survey was answered by 16,000 people from 16 countries, including the United States. It was known that 27% of millennials would make more purchases online than in person.
It cannot be forgotten that despite the impact of Covid-19 on the world, online purchases have risen for obvious reasons. However, after the most seriously ill years, store purchases have reappeared, but only slightly. Many preferred to keep the online purchase and payment variant.
Millennials are connected to the network of networks
One effect of the pandemic itself has been that millennials have wired themselves into a web of networks to work, study, and entertain themselves. Since then, those now between the ages of 25 and 40 have identified online spending as their preference.
73% of millennials surveyed said they plan to spend “the same or more” online this year. Only 15% of them said they would spend less in 2023.
“They spend more online than in stores in different categories. These findings suggest that brands must continue to evolve and improve e-commerce to appeal to this increasingly powerful demographic.” Comments Patrick Bosquet-Chavanne, CEO of ESW North Americait’s a statement.
Meanwhile, another study suggests that millennials aren’t the most solvent age group right now. The United States is suffering from the effects of inflation and fears of a possible recession.
This other survey was conducted by OnePoll and revealed that nearly 40% of young adults, millennials, still receive money from their parents. Thus, they can pay their bills and monthly bills.