Business View Magazine | April 2019

11 The Millennial Shopping Report includes participants who represent a wide range of socioeconomic groups and income lev- els, with a fairly even split between men and women. The report also features useful comparisons to CouponFollow’s previous Millennial Shopping Report data from May, 2017. “In our previous report, Millennials were still clinging to brick and mortar as their most utilized way of shopping. Since then, in just 18 months, digital shopping has sur- passed in-store, led by a rapid 20% increase in mobile shopping preference. Other findings from the report highlight a clear prioritization of discounts and couponing. 73% of Millennials admit they would try a product from a competitor of their favorite brand for a 20-40% discount. The potential to find discounts and incen- tives on brands’ social media channels has also drawn interest from this generation of shoppers, 70% of which now follow their favorite retailers on a variety of social plat- forms. As the Millennial generation comes of age and embraces their massive spend- ing power, retailers have an opportunity to shift their strategy to remain competi- tive. Future-focused brands can capture the Millennial dollar by improving and elevat- ing their online shopping experience, and catering to a consumer segment that ag- gressively searches for the best deals and prices.