Young Consumers Think About Long Term Purchasing

Yesterday’s post showed information about the shopping habits of younger consumers age 14 to 34. Today, we’ll go deeper into their decision making process and how technology plays into the purchase cycle.

filC39.tmp● More than one in three consumers age 14 to 34 are likely to only make purchases that are truly necessary
● Over 70% will research online before making an in-store purchase
● More than 40% consider the resale aspect of an item before buying it
● 41% want to be able to collect loyalty points for in-store purchases as well as online purchases
● 38% want to receive real-time offers while shopping in a retailer’s store
● One-third want an in-store product locator and 25% want the ability to make purchases in-store via mobile devices

What This Means To You

Younger consumers want the conveniences they have come to expect from digital shopping to move into the brick and mortar locations they frequent. The negative economy that the younger consumers have grown up with has also effected how they look at making purchases. While in-store product locators may be a challenger for many SMB’s to roll out – cross platform loyalty programs and mobile point of sale functionality are becoming much more attainable. And while you may not be able to roll out an internal location based product locator – a well informed and helpful staff will fill the bill.
When putting together your merchandise schedule – think about the secondary market for these purchases, especially clothing, tools and home furnishing. Also remember the importance product reviews play with consumers. With over seven in 10 researching their potential purchases online before buying – you may want to make sure that your products are linked to positive reviews. Consumers are most likely not just researching products; they are also researching where to buy. So, paying attention to your social reputation is also important.
For more information on targeting your most likely shoppers and converting shoppers into buyers, please contact:

Al Fiala
amfiala@gmail.com

Sources: Mobile Commerce Daily; The Intelligence Group

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