Amazon Still the Preferred Retailer of Millennials

Price and Prime draw in younger crowds, while older generations appreciate the convenience of the e-tailer but still like to shop in-store.

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.

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: