Shopping Habits of Millennial All Retailers Need to Know About
Millennial are not like older generation, and they do things differently. They are also called as Generation Y. Millennial are the largest generation in India with over 80 million individuals. Millennial are the young and also the influential generation. Their influence can be seen in the retailing industry, and they are considered responsible for thefast advent of online shopping in India.It is important to understand their shopping habits from business perspective. Retailers should be aware of their shopping habits to attract this generation.
Let’s have a look at some of their shopping habits that are defining the online shopping in India: –
- 89 % of Millennialuse their smartphones to connect to the internet, so if the retailers want to target this generation, they should follow mobile first strategy. If the retailers can communicate with them with an interactive app such as Tata Cliq Shopping app, it will help in developing their business further.
- Millennial prefer digital marketing over traditional marketing. They have very less interest in traditional marketing. A Largenumber of members of this generation areon social media, so retailers should know that social media is the best platform to market their product.
- Theyare impulsive buyers but are very careful in choosing what they are buying and evaluating whether they got the best deal or not. They analyze on prices of different brands and choose the best. So they are very sensitive to price.
- We think that millennial may not be loyal to their brands, but many millennial are loyal to their brands and like to shop from the same e-store as they get used to the shopping experience.
- They use technology to interact with the brands. So the brandsuch as Tata Cliq Shopping Appthat values this relationship and interacts with the millennial manages to get their loyalty.
- Millennial are socially responsible, and they donate their time and money to social causes. So retailers can engage them for a cause because most of them like to engage in causes.
- They are very cautious about cyber threats, so instead of paying online, they go for alternate methods like gift cards or third-party payment services like Mobile Wallets which can protect their details as they won’t be paying directly to the retailer.
- Millennial go through reviews before purchasing any product. Most of them select the products based on user reviews.
- Millennial value authenticity, they go through a company’s products only when they trust the company.
- They go for durable products instead of use and throw products. They shop very carefully.
- Most of the millennial are interested in brands that experiment and produce new stuff. Involving customers like Tata Cliq Appcan actually help in developing a relationship with them as well as create new products according to their interests. Companies which take customer’s feedback will score extra in both personal and professional levels.
- Millennial do not like troubles, so the retailers should provide them with 24×7 customer support so that they can assist the customers with any troubles associated with shopping.
In order to offer suitable shopping experience to Millenials, online shopping sites like Tata CLiQ, Myntra, Flipkart & Amazon should understand their behavior patterns and then offer customized solutions for them.