By Samantha Polak, Editorial Intern
As more and more Millennials settle into their adult lives and careers, this group of post-college, 20- to 30-somethings is acquiring more influence and buying power — and retailers are starting to take notice.
Millenials, in fact, are driving the changes that brands are making to their marketing and engagement strategies, according to a recent study from Mom Central Consulting.
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The research honed in on a variety of trends including:
- Social media preferences and influences;
- The impact of shopping suggestions from friends and family members; and
- Online versus in-person recommendations.
Mom Central Consulting surveyed 1,100 American Millennial women who were born between 1979 and 1993 and didn’t have any children. As an American Millennial woman with no children born between 1979 and 1993 (convenient, huh?), I’m here to share my insights on the study as well as my personal Millennial preferences to give retailers a look inside the mind of this generation of mine.
Social Media: Is Facebook King Or Fading Fast?
According to survey results, Facebook is king among Millennials, with more than 90% having a Facebook account and 42% logging in daily. While this number may seem impressive and indisputable, I think Facebook has been fading in popularity among Millennials. Although practically everyone I know does have a Facebook account, only a small fraction actively uses them.
As older generations flock to Facebook to reconnect with people from their past, younger generations, particularly younger Millennials, have sought other social media platforms to explore. Whether they got bored with Facebook (which some Millennials have had for 10 years) or they were trying to escape the ever-growing presence of their parents and grandparents on the site — younger Millennials have moved on. My preferred social media apps are Twitter and Instagram.
Peer Pressure: The Strong Influence Of Family And Friends
Nearly 90% of Millennials said they talk to their parents at least once a week, with 50% speaking to them every day. Although Millennials are becoming more financially independent, their parents are still influential in their lives and their decision-making. However, when making technology purchases, Millennials depended more on their friends for advice (66%).
When it comes to shopping, especially for apparel, shoes or jewelry, women are always looking for a second opinion, especially from friends who they trust to be completely honest with them (As opposed to a significant other. Think of the age-old question: “Does this make me look fat?”). As Gretchen Weiners famously said in the movie Mean Girls, “You wouldn’t buy a skirt without asking your friends first if it looks good on you.”
Man Vs. Machine: Whose Recommendation Do Millennials Trust?
In-person-word-of-mouth reigns supreme when it comes to recommendations, according to Mom Central Consulting. Half of Millennials said that reading a bad review online would not stop them from shopping at a certain store; however, more than one third of respondents said that an in-person recommendation on a food or beverage would influence their buying decisions.
Although Millennials spend most of their time online and may do preliminary research, they would rather have the concrete information in front of them. It’s hard to be 100% trusting of Internet recommendations with all of the spam, bots and self-promoting companies out there. However, getting the information straight from a person you know is far more tangible and reliable.
Were you surprised by any of these findings? How is your business striving to connect with Millennials.
