Millennials to offer retailers a holiday surprise
Younger shoppers will be the biggest spenders in physical stores this holiday season, according to two recent studies that dispel one of the biggest misperceptions of digital natives.
Half of shoppers ages 18-24 plan to spend more this holiday season than they did last year, according to research conducted for the National Retail Federation, and much of that spending will occur in physical spaces.
The NRF survey conducted by Prosper Insights & Analytics asked 7,439 consumers about holiday shopping plans and was conducted October 31 through November 7.
Another recent study of shopper intentions conducted by Quotient’s flagship consumer brand Coupons.com found that 55% of 20-somethings plans to shop in-store, the highest percentage of any generation. Perhaps most surprising was the finding that only 18% of 20-somethings said they planned to shop from their phones compared to 22% of 30-44 year olds compared to 30% of 45-59 year olds.
“20-somethings are savvy, using technology to find the best deals, and knowing not every great deal is online,” said Jeanette Pavini, Coupons.com savings expert.
The Coupons.com holiday survey was conducted in and involved 1,052 participants.
Both studies asked shoppers about their intended actions at a future point in time, always a tricky proposition given that what people do is often different from what they say.