Millennials Drive E‑commerce and Consumer Electronics Purchases

BY Kyla Snodgrass
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Millennials are heavy users of consumer electronics devices and e‑commerce. This generation of consumers, currently between the ages of 27 and 42, also heavily influence which consumer electronics devices their families and friends use.

Millennials’ purchasing power on consumer electronics purchases and e‑commerce

USA Today reported that in 2022, the spending power of millennials reached about $2.5 trillion in 2023.

Over 27% of millennials spent more money online than in store in the following categories:

  • Consumer electronics
  • Luxury
  • Apparel
  • Health
  • Beauty

Keep in mind that the average millennial household is 143% more likely than all U.S. households to have approximate average income of $150,000 or more, according to AudienceSCAN data.

When selecting channels for holiday season advertising this year, consider that more than 73% of millennials plan to spend the same amount or more than before using e‑commerce.  That’s a significant amount of e‑commerce market revenue driven by just these shoppers.

Millennials and their households

These shoppers are 138% more likely than the average adult to have children between the ages of 2 and 5 in their household, and 97% more likely to have children under the age of 2. Almost 35% of millennials have kids between the ages of 6 and 9.

Millennials can use technology like consumer electronic purchases to help them raise their kids. Millennial Magazine points out that these parents like to customize content for kids such as: 

  • Define screen time for their children
  • Regulate video content
  • Investigate messaging capabilities

Consumer electronics purchases can provide engaging games or applications with content to members of all ages in a household. The entertainment software association defines parental tools as,

"tools that filter games by age rating, manage time spent playing, set limits on or prevent in-​game spending and can restrict online communications."

In addition, millennials are 84% more likely than the average U.S. adult to play esports, often played on consumer electronic devices. Rachel Cagle, writing for SalesFuel, recommends digital advertisements for millennials who like to watch gaming video content (GVC).

Millennials plan to make consumer electronics purchases

Approximately a quarter of millennials are planning to spend more for consumer electronic purchases this year. These electronics include phones, software and games. In contrast, only 19% of Gen Zers and 13% of boomer, plan to spend more on these technologies.

Among the generations, millennials have the highest intent to purchase CE devices, with around 32% of this group planning to spend more than before specifically on online consumer electronics, and 24% plan to purchase more full-​price consumer electronic goods. In comparison, only 14% of Gen Z, 20% of Gen X, and 8% of boomers plan to buy more full-​price consumer electronics.

Millennials respond to brand awareness

Brand awareness is another thing to consider when targeting millennials. This audience discovers new brands via SEO, TV and social media. 

Despite their heavy use of social media and the internet, millennials may still rely on physical locations for demos of consumer electronics, friendly customer service and accessories.

When millennials visit a retail store prior to purchasing their CE device, they usually interact with a physical product. Common goals are to look, play with or use the product. Other factors include looking at the product packaging or getting a demonstration.

Millennials can be reached digitally

Millennials were 82% more likely than an average U.S. adult to respond to audio podcast ads in the past 30 days, according to AudienceSCAN data.

Advertisement responses for millennials in the past 30 days:

  • This audience is 42% more likely than the average U.S. adult to respond to the ads before videos they’re watching
  • Almost 46% respond to streaming TV advertising
  • 45% respond to mobile smartphone app or text messaging
  • 67% more likely than average to read a blog almost everyday

In addition, other advertising media that has been popular with millennials includes social media, email and SEO. To learn more about millennials and their advertising preferences, check out their AudienceSCAN data available on AdMall.

Millennials are a target market for consumer electronics purchases

In conclusion, to fully encapsulate a generation is difficult. However, look into millennials' shopping habits both online and in-​person. Discover what channels they are more likely to view and respond to advertisements on. Find out what drives these consumers to buy, for example, consumer electronics purchases. You may develop ideas about what factors influence a meaningful portion of this demographic to respond to your client’s advertisements.

Picture by Julia M Cameron from Pexels.