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Millennials are Amazon's main consumer group . Millennials spend $600 billion a year, 60% of which is spent on online shopping. By 2020, the spending power of millennials will rise to $1.4 trillion, accounting for 30% of total U.S. retail sales. For Amazon sellers, millennials are the most important customer group. A deep understanding of the relevant statistics and shopping habits of this group of people will help sellers conduct targeted marketing. This article will introduce the consumption characteristics of millennials to help sellers win over this group of consumers. American millennials refer to people born between 1981 and 1996, currently aged between 23 and 38 , with a number of more than 80 million, exceeding the 75 million baby boomers in the United States. Now that most millennials have reached adulthood, entered the workforce, and started earning money to support their families, they were born in the digital age and have a combination of new and old century characteristics in their needs, habits, and interests. So sellers need to adopt specific interactive methods to attract these people. Here are five key consumer behavior patterns of millennials: 1. Amazon is the main shopping platform Although millennials were not born in the digital age, they have quickly adapted to new technologies and their online shopping frequency is increasing. 46% of millennials shop online at least once a week. Among consumers who shop online every day, 62% are millennials. Amazon is an important part of millennials’ online shopping. 74% of millennials visit Amazon at least once a week, and 94% shop on Amazon at least once a month. Amazon has met the various needs of millennials through seamless omni-channel integration, technological innovation and personalized services. Amazon's innovative technologies include voice shopping, which makes shopping more convenient for consumers. 46% of millennials own a smart speaker from Amazon, Google or another brand, with 53% saying they have used these devices to purchase products, and 72% saying they would consider buying a smart speaker in the future.
Millennials are more active in adapting to and using new technologies. Sellers need to optimize their product content for voice search to cater to this consumer behavior of millennials. Data shows that 92% of millennials own smartphones, while the smartphone usage rates of Generation X (38-52 years old) and Baby Boomers (54-72) are 85% and 67% respectively. 42% of millennials shop most often on their mobile phones, and 49% shop on their computers. Although PC shopping is still the main online shopping method for millennials, shopping on mobile devices is becoming more and more frequent. Sellers need to optimize their mobile devices in the following ways to meet the shopping needs of millennials: Product page content is concise, bold keywords Adjust the product title to use commas or dashes for easier reading Optimize the image, with a white background and 1000x1000 pixels Optimizing mobile content with EBC
2. Millennials are loyal to convenient services Millennials are an extremely loyal consumer group. Personalized, targeted content and promotions are key to keeping millennials loyal. Amazon has won the favor of millennials by using various membership benefits, convenient delivery, personalized marketing, etc. 65% of millennials are Prime members, and 82% of them said they would continue to purchase Prime. In order to gain the loyalty of this group, sellers need to maintain an excellent customer experience and use various upselling and bundling methods to provide consumers with a personalized shopping experience. Millennials value convenience. 84% say two-day shipping is the main factor influencing their purchase of Prime . Among millennial Prime members, 81% search specifically for Prime products, and 92% say they often or always purchase Prime products. As a seller, you can choose to use FBA and offer Prime products to attract these users. 3. Pursue preferential prices With an average debt of $36,000 and more than 60% not knowing when they will be able to pay off their debt, millennials are price sensitive. 83% of them say price is the main driver of their purchases . Like baby boomers, millennials are driven by discounts when shopping.
83% of millennials check product prices on Amazon before shopping. 67% said low shipping costs are the main factor in choosing products. Amazon's promotions are therefore popular with millennials, such as Prime Day and Black Friday. 55% of millennials plan to shop on Black Friday this year, and 69% said promotional discounts make them buy products during these promotions. Many people follow brands online just to get discounts, and 66% said they would switch brands if the seller offered a 30% discount.
Sellers can use various promotions, free shipping, etc. to attract these users and increase product exposure. 4. Pay attention to evaluation In addition to convenience, the ability to more easily obtain rich information to help with purchases is another important factor for millennials to choose online shopping. 83% of millennials said they often read product descriptions before shopping on Amazon. They also confirm whether the product or brand is high-quality through reviews or feedback. 86% of millennials check product reviews before buying on Amazon, and 96% trust Amazon product reviews . If companies want to convince users to buy, reviews, user trial experience, and seller reviews must meet standards. Reviews can also provide valuable suggestions for sellers' businesses. If sellers have social media or their own websites, they can put relevant comments to enhance their brand awareness . Social media is a platform where millennials are active, and sellers can use social media to build their own influence: - Encourage users to share their product experiences on social platforms. Sellers can organize sharing activities and provide rewards for consumers who participate in the activities.
- Create a Facebook group to find target users for your product.
- Use influencers. Influencers are very influential to millennials, and working with them is a great way to promote your products.
74% of millennials say brand is a very important factor in choosing a product. Millennials are very interested in brands that are authentic and transparent, with 75% saying it would be best if brands gave back to society, rather than just making money. Brands should focus on crafting impactful value propositions and creating unforgettable brand experiences that emotionally resonate with millennials and build lasting connections. 91% of millennials are satisfied with the number of brands Amazon offers. 61% of them frequently go to Amazon to search for specific brands. As a brand selling on Amazon, building your own brand story and mission in channels other than Amazon can help you reach millennials early and build connections with them early.
Like the Amazon effect, millennials have had a profound impact on the retail industry with their specific demands. It is expected that 85% of millennials will become online shoppers in 2019. As Amazon is the main online shopping platform for millennials, sellers need to adjust their marketing methods, brand image, etc. to attract this huge consumer group.
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