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Young people are the future of the world, and surprisingly, that’s true. Yes, because millennials are capable of handling almost anything right now, and if we talk about their age, then they are between 24 and 40 years old. As some people say that people between 1980 and 2000 are millennials, there are many misconceptions about their age.
Millennials are the first digitally native generation. They are young, energetic, and self-centered. However, millennials have become the generation that sets technology trends and drives technological development in the last two decades.
From a marketing perspective, they are the best of the best people you can target since they love smartphones and computers the most. These are the people who spend most of their time looking for deals and ordering items online.
We will discuss fascinating facts about Millennials in this post and some statistics marketers should know to transform marketing to target the world’s most powerful generation.
Fascinated Facts about Millennials
- Nine out of ten millennials own smartphones
- The millennial generation will make up 75% of the global workforce by 2025
- Millennials distrust traditional marketing more than 84%
- Sixty-seven percent of Millennials use Facebook on a daily basis
- About 64% of millennials say they are loyal to a brand and vice versa
- Three out of four Millennials would prefer to spend money on experiences
- Sixty-two percent of Millennials say engagement on social media increases their likelihood of becoming loyal customers.
Younger generations were hit just as hard by the lockdown year, as evidenced in the 2021 Millennial Survey: being cooped up and isolated, experiencing the constant fear of getting sick or seeing loved ones get sick, and experiencing global disasters.
Millennials are still quite confident and energetic, and therefore, it is understandable why they exert all of their energy into holding themselves and others accountable. Although the pandemic lockdown curtailed Millennials, it did not change their tantrums, which are unmatched by any other generation in the world.
We will take a closer look at some more data to understand how Millennials impact marketing and why they should be considered. Come on, let’s go!
Millennials Marketing Stats for 2021 every marketer Should Know
Millennials are the generation of eCommerce who prefer to shop online rather than visit physical stores because they value their time. They are individuals who make their own decisions and choose whatever they like and love.
1. There are 1.8 billion Millennials on the planet
According to 2020 data, there are more than 1.8 billion millennials on earth. Millennial customers are the largest generation in the US workforce and are expected to overtake baby boomers in the near future. As a result of their purchasing power and their way of spending, millennial customers are extremely important and valuable for businesses. Most Americans may find it hard to believe that more than half of the population is now made up of Millennials.
(Source: https://www.msci.com/)
2. A whopping 62% of Millennials shoppers prefer to shop on eCommerce sites
This may be bad news for retailers who operate stores, but it will be great news for eCommerce owners. You can benefit from having your store present online since Millennials love to shop online whether it be for new t-shirts or retro party apparel.
(Source: https://www.digitalcommerce360.com/2019/03/26/millennials-online-shopping/)
3. 95% of Millennials check for coupons before purchasing and spend more time looking for them
These statistics say it all, and it’s a good sign for owners of eCommerce stores to keep coupon codes alongside their products. The reason you need to do this is because Millennials will visit your site and buy from you almost every single time they visit it. In fact, holiday spending is one of the best times to do this as millennials can sometimes overspend on holidays.
(Source: https://money.usnews.com/money/personal-finance/spending/articles/how-millennials-spend-their-money )
4. 68% of millennials want a seamless customer experience, no matter what channel they use
Millennials are the generation of eCommerce users who don’t tolerate inconvenience, as we mentioned above. All they want while using their smartphone or computer is comfort and smoothness. As an eCommerce store owner, you should ensure that they have a seamless experience when visiting your store online and treat them with respect. They also used to prefer old school communication sometimes and become friendly to you.
(Source: https://templatelab.com/american-express-study/ )
5. Millennials spend 2.38 hours a day on social media on average
Millennials connect with others and interact with brands via social media. Millennials spend 2.34 hours a day on social media whether it’s Instagram, LinkedIn, Whatsapp, or Facebook. The concern is reaching millennials on social media, so for that you must be present on all social media networks and capture their attention. You should seek the aid of social media marketers if you want to connect your brand with millennials.
(Source: https://whatagraph.com/blog/articles/how-much-time-do-people-spend-on-social-media )
6. Blogs are 247% more likely to influence Millennials
Blogs are important for any business, but they are particularly important for millennial marketing strategies because they alert customers about the business. Also, it’s a way to build awareness of brands worldwide and that’s why it is an opportunity for eCommerce owners.
Millennial statistics for a blog stated that they enjoy reading blogs with information, reviews, and recommendations. It is important to know this as a marketer as you can offer them content that they like reading and convert them into customers.
(Source: https://leadg2.thecenterforsalesstrategy.com/blog/marketing-to-millennials-through-blogs )
7. Over 97% of millennials check online reviews
We sometimes forget about reviews when looking at other important aspects of the business, but it can cost you a lot of money. You should keep an eye on the reviews you get for your products and services since more than ninety percent of millennials read online reviews.
It’s not like they’ll just read and walk away because they trust online reviews and make purchases accordingly. Your site needs to have at least ten to fifteen positive reviews to entice them and add them to your customer list. It is important to keep a balance of good and bad reviews since they both impact your business profit and credibility.
(Source: https://www.qualtrics.com/blog/online-review-stats/ )
Conclusion
These marketing stats for millennials are becoming more diverse and complex as they change by the day. Today’s young consumer has become a discerning buyer, which means they are more likely to be smart shoppers and generous buyers.
Do you want to know how Millennials impact your eCommerce store? M-connect Media can help you guide. Our eCommerce specialists know what millennials like to see on your site and where to keep coupon codes to maximize performance. For any kind of eCommerce development, design, and implementation, contact us today.
