Millennials have mixed emotions when it comes to shopping online. Glued to almost every 21-to-35-year olds hand is a smart device capable of wiping out the entire industry of retail workers and stores.
In 2o14, millennials spent nearly 1.3 trillion dollars shopping despite the average college debt of 30 thousand or more, according to MarketingProfs.
Many are self-proclaimed bargain hunters. When they do actually step foot into the mall,they are most likely surfing the net from their mobile devices for discount codes and promotions.
The millennial generation loves originality and exclusivity, but most importantly—they love a good deal. In 2015, 73 percent of millennials say they purchased products or services online and about 74 percent compared prices online, according to data collected via Rakuten Marketing.
Pamela Shotikre, a Towson Town Mall employee, says, “nobody is really coming to the mall anymore. Now a days it’s a lot of older people”
Shotikre says she’s sees a lot of older people shopping in after their morning walks around the mall.
“I pretty much just walk around on my breaks, but otherwise I wouldn’t come to the mall. Online shopping is the way to go because I can really take my time and see everything and find the details and stuff I really want”.
Many retailers have turned to social media and hashtags to spread their brands. Thirty percent of online shoppers say they would be likely to make a purchase from a social media network like Facebook, Pinterest, Instagram, Twitter or Snapchat, according to Big Commerce.
About 54 percent of millennials reported that they use shopping apps because they were easier to use than a mobile site, while 27 percent said that they use a shopping app to get a discount or a lower price.
Many members of the tech savvy generation are taking advantage of the at the door services. About 71 perfect have Amazon prime memberships. This method appeals to their need for all things quick and could have packages on their doorsteps, same-day, at times.
No matter where they choose to shop, millennials are in control of the future of fashion and Ecommerce. By the year 2030, they are expected to make up 35 percent of the U.S economic buying power forcing retailers to figure out new marketing strategies to attract shoppers.
The use of hashtags and geofilters allow retailers to keep up with Twitter and Snapchat trends. Both methods allow users to promote brands and store locations while striking a pose. Many say they will gladly promote the places they purchase items from if they have a good experience and an online social presence. Many of their purchases are based off celebrity endorsed products, the fear of missing out on something exclusive, and a product suggested by a YouTube users.
On the contrary, some still prefer the traditional retail therapy experience of actually going out and into the mall. Carlyto Johnson, 21, says he’s been working in retail for the past four years and still loves to go out shopping every now and then with his friends.
“It definitely goes back to tradition,” says Johnson.
He says during the holidays, it’s only right to get out with friends to shop and grab a bite to eat.
“It’s Christmas so like the whole thought of finding gifts for your friends, your family. You know, looking for different little stuff and nitpicking through it, and trying to get the sales, trying to be the person to get the stuff. It’s all cool.”
From instant car service and curbside delivery to online boutiques, millennials are spending their money, how, when, and where they want, and more than likely—it’s on their phones at the press of a finger.