THOUGHT LEADERSHIP

Millennials still shop in physical stores. But are they shopping in yours?

Oct 22, 2018
Millennials make up 87% of the consumers in the e-commerce market. Traditional retail stores need to come up with new ways to attract this tech-savvy demographic. How do traditional retailers attract customers who prefer browsing an online catalog than perusing the shelves?

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E-commerce started in 1991. This places millennials in the cusp of online shopping while traditional retail is still the norm. In fact, one out of three consumers is less certain on what they buy through an online shop instead of a physical store. Additionally, 76% of millennials still prefer human assistance when shopping.  

This only proves that, even if retail apocalypse has killed many businesses in the past year, retail outlets still have a chance to thrive.

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In a recent study by Adoreboard, they found out that 49% of 18-to-34-year-olds prefer to shop for clothes in bricks-and-mortar stores, compared with 39% through websites and 11% via apps. The remaining 1% of respondents said ‘elsewhere’.

Millennials prefer human interaction

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Consumers still seek person-to-person communication despite the rise of artificial intelligence. Seventy-six percent of millennials still want to converse with a human because they feel that inquiries are more likely to be resolved through an actual person.

The hunt excites them

In a research done by First Insight, 71% of Millennials enjoy looking for deals in multiple stores. The competition between e-commerce and retailers have become more intense because millennials have a different way of bargain hunting. They combine online and offline efforts to get the best deal.