Millennials, Generation Y, Echo Boomers, the Demand Generation — call them what you want, but this key group of over 75 million U.S. consumers is undoubtedly changing today’s shopping scene. Brands have been forced to evolve their omnichannel strategies as well as tailor their offerings and merchandising to millennials, since this demographic now has over $200 million in annual buying power. Many millennials grew up with mobile devices and laptops in hand, making digital a critical channel for reaching this audience.
As the retail landscape shifts from shopping malls to smartphones, so have millennials’ shopping preferences, especially when it comes to purchasing their favorite brands. The Astound Commerce 2017 Global Brand Shopper Survey revealed that 39 percent of millennials prefer to shop directly on the brand manufacturer’s website rather than with retailers that sell multiple brands.
We surveyed 1,000 consumers who shop online and have visited a brand manufacturer’s website in the past month to uncover changing consumer expectations for brands and their evolution in the retail space. The study revealed the biggest millennial demands when shopping with brands both online and in-store.