Amazon and Target lead the way in e-commerce penetration for the Millennial generation.
Although Millennials shop more frequently at brick and mortar stores, the generation spends more money while shopping online, according to The NPD Group’s Checkout Tracking service.
The service identified Amazon as having the largest overall e-commerce penetration among Millennials in 2016. Target was also found as having the top increase in e-commerce penetration among Millennial buyers of all general merchandise retailers in 2016.
“Retail is finally meeting Millennial demands,” says Marshal Cohen, chief industry analyst, The NPD Group. “Retailers that transform the shopping experience to deliver a more personalized approach, whether online or in-store, will be better equipped to compete for this generation’s dollars.”
Furthermore, the NPD Group also identified several other retailers that had notable increases in e-commerce Millennial penetration, which include: Nike for footwear; Best Buy for consumer electronics; Jet.com for health and beauty; Toys “R” Us for toys; Wayfair.com for textiles; Walmart for housewares; and ASOS for apparel.
“The Millennial buyer is business critical but complicated, often finding appeal in smaller, more specialized shopping options,” says Andy Mantis, executive vice president, Checkout Tracking. “The advances these major household-name brands have made with the Millennial audience will be prove valuable, as they spend more than twice as much per receipt when shopping online in several categories.”