BY Rachel Cagle
"Millennials have some very specific preferences when it comes to shopping and making returns, says Chain Store Age."
"Of the 63% of millennials who purchase items online, 76% prefer to make returns in-store, and 76% of them stay and shop after making a return in-store, according to an annual survey by investment bank Roth Capital Partners."
"The study, conducted in partnership with Mfour Mobile Research, also found that 47% of millennials are more likely to purchase digitally native brands and 73% are Amazon Prime members.
Key findings from the Roth Millennial Survey include:
• 45% of millennials have purchased apparel products from brands that they first discovered on Instagram;
• 53% are willing to pay a premium of 10% or more for socially responsible brand; and
• purchasing decisions are most influenced by quality, value and friend recommendation."
As you may have guessed, Millennials are also heavily influenced by digital advertising. According to AudienceSCAN, last month, 54.8% of Millennials used a search engine to research a product they were considering and 33.3% were driven to action by sponsored search ads.
AudienceSCAN data is available for your applications and dashboards through the SalesFuel API. In addition, AdMall contains industry profiles on women's apparel stores and department stores, as well as lead lists at the local level. Media companies, sales reps and agencies can access this data with a subscription to AdMall from SalesFuel.