Millennials are driving the latest shopping trends. Increasingly, consumers are using their smartphones to place their orders and expect same-day delivery. But what is driving these new trends? Here are some key trends to consider. You might be surprised at what you find! Read on to learn more about Millennials and the changing nature of the consumer. In addition to millennials, other generations are becoming more socially aware, too. Read on for some surprising facts about shopping trends!
Online shopping has become a lifestyle
With the growing popularity of mobile devices, people are spending less time in front of a desktop, laptop, or TV. They can access the internet anywhere, anytime. Smartphones let them shop even when they are not at home. The mobile web allows consumers to compare prices and see product reviews in real-time. Millennials are the largest demographic group in the U.S., but they are not the only ones who are shopping online.
Millennials are driving the trend
The millennial generation, comprised of people aged 18 to 34, is leading the revolution in retail. Compared to other generations, they place more importance on the research stage of the shopping experience, as well as in receiving knowledgeable customer service and interacting with products in the store. Millennials also heavily weigh user reviews when making purchasing decisions. The proliferation of “review farms” on Amazon has made these consumers seek out legitimate sellers and retailers.
Mobile orders are increasing
Retailers are seeing a rise in mobile orders as consumers are increasingly turning to their mobile devices for shopping. One-quarter of new users at Peapod are placing their first orders through mobile devices. According to the company, 34 percent of customers are no longer using their desktop computers. And the trend isn’t limited to just small businesses. Even large corporations are making a move into mobile. For instance, Starbucks has seen a 22 percent increase in mobile transactions in the second quarter.
Same-day delivery is becoming an expectation
For some consumers, same-day delivery isn’t a luxury anymore. In fact, shoppers have started rating retailers based on how quickly they can deliver a purchase. With this trend, retailers have to find a way to meet customers’ expectations and compete for their business. However, despite the potential market, same-day delivery poses unique logistical challenges for retailers, especially when it comes to back-office operations, inventory management and transport. For these retailers, innovation in warehousing and fulfillment is essential to ensure that their customers receive their products quickly and in good condition.
Generation Y
While millennials have traditionally preferred in-store shopping, many of them now prefer online shopping. Their top benefits are price comparison and convenience. Millennials also want better-fitting technology and shipping options to make online shopping more convenient and enjoyable. But millennials also want more choices than ever before. Read on for some of the latest shopping trends in Generation Y. Then, shop smart and save money! Here are some tips for retailers to keep up with this generation’s tastes and preferences.
COVID-19 pandemic
After the global COVID-19 pandemic struck in December last year, consumers changed their purchasing habits in a big way. Some people locked up their wallets and stayed at home to recuperate from the virus, while others turned to online shopping for the same items. The COVID-19 pandemic has changed the way we shop, according to J.P. Morgan Research. The impact on consumers’ spending patterns is both short-term and long-term.
Social shopping
During the digital age, social shopping has emerged as a vital component of retailing. The most popular items for social purchases are apparel and fashion, but a growing number of people are also buying electronics, business services, and lifestyle brands. If your product can set itself apart from the competition, you will be well suited for the social shopping scene. In order to successfully take advantage of the social shopping trend, your business must have a customer relationship management (CRM) system. This system unifies the various sales channels and tracks all customer activity.