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March buzzReport: Millennials and Retail

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Buzz Marketing Group is proud to announce the March buzzReport with new statistics on Millennials and Retail!

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March buzzReport: Millennials and Retail

  1. 1. Se7en - Creative Powerpoint Template MILLENNIAL RETAIL STUDY [PART II] HOW MILLENNIALS ARE SHOPPING AND INTERACTING WITH RETAILERS BUZZMARKETINGGROUP|WHEREINSIGHTMEETSACTIVATION 1!
  2. 2. Se7en - Creative Powerpoint Template MILLENNIAL RETAIL STUDY: OVERVIEW 2! It may sound simple, but it’s the truth: Millennials just want a good deal. Value and quality are much more important to them than brand loyalty, and even store location and hours. While they seek the biggest bang for their buck, they also expect retailers to reach out to them where they are. This is why our research shows that Millennials prefer to obtain their coupons via email rather than through traditional mail, and they expect retailers to maintain sharp and useable sites that they can access through their laptops and their smartphones.!
  3. 3. Se7en - Creative Powerpoint Template MILLENNIAL RETAIL STUDY: MEET THE BUZZSPOTTERS The pulse of BuzzMG and our monthly buzzReport… ALL ABOUT OUR NETWORK They are the trendsetters and tastemakers in their school, community, or city. Whether they’re discussing a cultural phenomenon or explaining everyday youth behavior, they are helping our clients make the decisions that matter. Our international network of over 30,000 youth has been selected on a peer-to-peer basis through our proprietary process that promises to capture true trendsetters. Our network includes buzzSpotters® from various countries, including… Facebook Twitter Instagram Dribble Vimeo Google + USA CANADA BRAZIL GERMANY JAPAN SPAIN CHINA UNITED KINGDOM SOUTH AFRICA Data is collected through… - Online Surveys - Ethnographies - Immersion Experiences 36% 64% Female 64% 30,000 Network 449 Participants Male 36% 3!
  4. 4. Se7en - Creative Powerpoint Template Age Full-Time (64%) Part-Time (10%) Self-Employed (6%) Other (18%) Unemployed (2%) 18-24 (18%) 25-30 (31%) 31-35 (51%) Employment White (53%) Black (22%) Asian American (12%) Hispanic (10%) Mixed (3%) Ethnicity City (52%) Suburb (41%) Rural (7%) Residence Married (43%) Single (27%) In a Relationship (22%) Divorced (2%) Dating (6%) Marital Status Education High School Diploma (21%) Associates (11%) Bachelors (49%) Masters or Doctorate (16%) None of the Above (3%) MILLENNIAL RETAIL STUDY: MEET THE BUZZSPOTTERS The pulse of BuzzMG and our monthly buzzReport… 4!
  5. 5. Se7en - Creative Powerpoint Template 53% of Millennials prefer to receive coupons via text message. 5!
  6. 6. Se7en - Creative Powerpoint Template MILLENNIAL RETAIL STUDY: ONLINE SHOPPING 52% 37% 47% 39% Optimize to Mobile. While shopping online on their smartphones, over half of Millennials have dealt with apps or websites that were not optimized for mobile devices. Speed Up. When shopping online on their computers, 37% of Generation Y have experienced slow load times overall, while 29% have dealt with slow online checkout processes. Stay Sharp. Almost half of Millennials have complained about the small or fuzzy images that appear while online shopping on their smartphones. Be Interactive. 39% of Millennials have noticed a lack of interactive features on apps and online shopping sites while browsing on their smartphones. How can retailers adapt to the problems that Millennials have encountered while shopping online? 6!
  7. 7. Se7en - Creative Powerpoint Template 96% of Millennials agree that the value for money is most important when deciding where to shop. 7!
  8. 8. Se7en - Creative Powerpoint Template MILLENNIAL RETAIL STUDY: DECIDING FACTORS What does Generation Y take into consideration when deciding where to shop? 88% Store Promotions Millennials still care about price point, which explains why store deals, and discounts are still deciding factors. 94% Product Selection Coming in close second is the variety and type of products that stores are able to offer consumers. 95% Quality of Product Remember retailers, one of the most important deciding factors is quality rather than just brand or price. 70% Brand Loyalty Not surprisingly, brand loyalty ranks pretty low when Millennials are trying to decide where to shop. Remember this! 82% Store Hours GenY looks for flexibility in all areas of their lives which is why they are interested in the availability of store hours. 85% Store Location Instead of expecting them to come to you, try going to them. Look to where Millennials live, work, and hang out. 8!
  9. 9. Se7en - Creative Powerpoint Template 81% of GenY prefers to provide positive feedback in person. 9!
  10. 10. Se7en - Creative Powerpoint Template MILLENNIAL RETAIL STUDY: CONSUMER FEEDBACK ONLINE SURVEYS 9 out of 10 Millennials prefer to provide positive feedback to retailers via surveys on the retailer website. 90% SOCIAL MEDIA 88% A majority of Millennials prefer to give positive feedback to retailers via social media. How do Millennials prefer to interact with retailers when it comes to positive feedback? 10!
  11. 11. Se7en - Creative Powerpoint Template MILLENNIAL RETAIL STUDY: CONSUMER FEEDBACK TELEPHONE Many Millennials still choose to provide negative feedback to retailers via telephone over other mediums. 79% EMAIL 78% A good portion of Generation Y would prefer to give negative feedback to retailers via email. How do Millennials prefer to interact with retailers when it comes to negative feedback? 11!
  12. 12. Se7en - Creative Powerpoint Template BUZZ MARKETING GROUP: ABOUT US Learn a little bit about Buzz Marketing Group and what we do. CONNECT BRAND IMPACT UNDERSTAND Buzz Marketing Group (BuzzMG) is an award-winning communications agency that brings insights to activation. Through our network of 30,000 buzzSpotters® and 7,000 momSpotters, we deliver data and strategies that drive the marketing approach for clients focused on Millennials, Moms, and Multicultural consumers. Since our founding, research has been at our core and we continue to be a leader in consumer insights worldwide. We believe that as the consumer evolves, the agency must evolve. Since 1996, BuzzMG has been committed to helping our clients understand consumers better and reach them in a more focused way. We help clients Connect, Brand, Impact, and Understand their target market. Our unique set of tools and resources have been utilized by clients like Dell, Sony Music, Procter + Gamble, Johnson & Johnson, Microsoft, Maidenform, GlobalHue, Verizon Wireless, American Eagle Outfitters, and many more. 12!
  13. 13. Se7en - Creative Powerpoint Template BUZZ MARKETING GROUP: CONTACT US Let’s sit down and chat. 132 Kings Highway East, Suite 202, Haddonfield, NJ 08033 | 856.433.8579 | www.buzzmg.com hello@buzzmg.com | @BuzzMG 13!

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