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Millennials and the future of eCommerce retail [Infographic]

July 27, 2020

With a lifetime online shopping value of 10 trillion U.S. Dollars, Millennials are in the focus of the eCommerce business. They’re the age group between 18 and 34, and total digital thinking drives them. Forty-eight percent of this group are constantly available online. They’re tech-savvy, and they know how to use the internet to meet their needs and lifestyle.

Millennials love technology and social media. They like participation, and they demand to interact with their favorite brands. This reflects in more than 35% of Millennials being influenced by social media during a purchase decision. Shopping is more of an experience than getting the goods themselves.

To feel good and have peace of mind, Millennials require speed and convenience from online stores. Three-fourth of them prioritize experiences over things. So, it’s not enough for the seller to have great brands, good products, and low prices; they need to fulfill the needs of Millennials during their shopping journey.

Retailers must deliver on all sides. They need to provide hyper-personalisation and all media of delivering the goods quickly. Millennials demand all shipping and pickup options available, from BOPIS (buy online pickup in-store) to precisely scheduled delivery. eCommerce has to cater for all these needs and trends. And never forget: Millennials despise average websites in terms of poor quality!

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