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April 6, 2018
NORTH AMERICA- Millennials are buying from Amazon at a higher rate than their older or younger counterparts, with four out of every five (79 percent) reporting a purchase within the past month, according to a new report from Yes Lifecycle Marketing.
The survey also showed that on Amazon Prime Day, taking place today, Millennials are the most likely of all generational groups to take advantage of the exclusive offers.
If you’re like us, you sometimes have a hard time keeping track of all these generations. Here’s a cheat sheet:
Centennials (also called Gen Z): Born 1996 and later
Millennials: Born 1977-1995
Generation X: Born 1965-1976
Baby Boomers: 1946-1964
Yes Lifecycle Marketing surveyed more than 1,000 consumers of all ages in March 2017 and found that more than half (55 percent) of Millennials choose to buy from Amazon for its Prime benefits and more than three quarters (76 percent) do so because of its prices.
Baby Boomers meanwhile, value Amazon more for its convenience and product selection, while Centennials are more likely to shop in-store. However, the e-commerce giant proved popular across the board, with 63 percent of all consumers surveyed having made a purchase on Amazon in the past month.
Despite the high adoption of e-commerce, the report also shows shoppers of all ages measure the in-store experience to be equally important as the digital one, a promising sign for brick-and-mortar retailers. In fact, the report found nearly one in five Centennials (18 percent) and Millennials (19 percent) say the in-store experience is one of the top three factors that drive brand loyalty. In contrast, only 11 percent of Baby Boomers say the in-store experience is a top factor in brand loyalty.
"Amazon has done a good job of delivering cross-channel communications that speak to Millennials' preferences and behaviors, reaching them where they want and how they want, and other brands should take note," said Michael Iaccarino, CEO and chairman of Infogroup, parent company of Yes Lifecycle Marketing. "As Centennials enter the job market and gain buying power, all brands, Amazon included, need to adapt their marketing communication strategies to speak to these digital natives."
Additional findings from the report include:
After Millennials, members of Gen X were the second most likely to buy from Amazon, with 69 percent reporting a purchase in the past month.
Centennials shop in-store during the holidays more so than any other generation (45 percent).
More than 80 percent of Centennials and 74 percent of Millennials say social media influences their shopping.
Four out of five respondents in all age groups report that they find a brand's website important when making purchase decisions.
Almost a third of Centennials (31 percent) shop at non-Amazon retailers because they enjoy the in-store shopping experience, more than any other generation.
Read more about:Amazon
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