Warc (@WarcEditors) reports that “young consumers in the US are growing more distinct from their older counterparts when it comes to using digital channels in the purchase process.” According to The Millennial Consumer: Debunking Stereotypes, a poll of 4,000 “millennials” (16-34 year olds) and 1,000 consumers from older cohorts by the Boston Consulting Group (@BCG_Consultant & @BCGPerspectives), 60% of the former group rated goods and services online, versus 46% of the latter cohort.
· 50% of BCG’s more youthful sample have used a mobile device to read reviews and research products while out shopping, measured against 21% for the older panel questioned.
· 53% of millennials look for information or engage with brands on sites like Facebook and Twitter, and 33% favor companies that are active on these sites. Both are 16 percentage points higher than for over-35 year olds.
· 60% of 16-34 year olds upload videos, images, and blogs, doubling the total logged by over-35 year olds.
· 59% of the first audience own a smartphone, easily surpassing the 33% of participants falling outside this age range.
· Just 26% of millennials watch television for more than 20 hours per week, compared to 49% of more mature interviewees.
Read the full report (pdf).
For an added perspective on this demographic, see USA TODAY's "Millennials Struggle with Financial Literacy."
Also see our previous blogpost, “Young ‘Millennials’ Losing Faith in Record Numbers.”
Contact Somersault (@smrsault) to help you market your brand to Millennials.
And be sure to bookmark and use daily the SomersaultNOW online dashboard; especially the Research tab.