While Millennials have a reputation for being fixated on technology, most (53%) continue to make the majority of their purchases from brick and mortar stores, while barely a third (31%) make most purchases online via desktop, and a mere 16% make most of their purchases via mobile, according to research from Michael Parrish DuDell, chief strategy officer at coupon company CouponFollow, and a self-described millennial expert (and best-selling author of the official Shark Tank books).
Just over three quarters of millennials (76%) browse the internet before buying anything, online or off, with 67% buying from a brick and mortar store after doing research and 33% buying online, the study found.
Much of millennials’ research, including their connections to brands on social media, includes finding deals, according to the report. Well more than three quarters (79%) are “greatly impacted” by finding deals and saving money, with 67% “greatly impacted” by free shipping, 60% “greatly impacted” by product reviews and feedback, 37% “greatly impacted” by fast and simple checkout, and just 11% “greatly impacted” by product personalization.
CouponFollow’s research bolsters studies elsewhere that millennials remain committed to brick-and-mortar, and younger members of that generation (ages 20-23) are even more so: 58% of that cohort most of their purchases offline — up five percentage points from the generational average, while 18% of older millennials (ages 32-35) make most of their purchases on mobile — up two percentage points from the generation average, the study found.
Mobile commerce is cross-generationally underutilized, according to the research. More than half (56%) of millennial women shop offline, compared to 52% of men, 28% of millennial women shop online (via desktop), compared to 32% of men, and 16% of millennial women and men shop on mobile.
While millennials are enthusiastic about saving money, many are frustrated with the process of finding coupons on the internet: 65% complain that expired or nonworking codes are their greatest frustration when searching for coupons online, 18% feel misled by a false offer and 14% are frustrated by how much time it can take. And, sure, millennials are cheap, but they’re also easy: 66% would try a product from a competitor of their favorite brand for a 30% discount.
The results underscore how much retailers need to make it easy for millennial consumers, who are beginning to reach their peak spending years, to find information (including discounts and shipping offers) and to shop online and off. “By fusing together the online and offline shopping experience, brands can earn considerable market share by adopting a hybrid approach to commerce that’s rooted in value and designed to empower authentic consumer engagement across a rapidly evolving suite of channels and platforms,” according to the report.
To conduct the report, CouponFollow polled 1,000 Americans between the ages of 20-35 from all 50 states in May. Representing a broad economic scope, with annual income ranging from 0 to $200,000+, participation was evenly split amongst millennials who identify as male (48%) or female (52%).