Do millennials really prefer online shopping?
Recently, a report by Nielson revealed three very important things when it comes to shopping behaviours in Singapore.
1) 8 out of 10 shoppers in Singapore fall within the Gen X or millennial generations.
2) Consumers do not restrict themselves to buying things online or at physical shops but instead, adopt a blended approach.
3) Shoppers still rely on word-of-mouth for recommendations when making a purchase.
Millennials are very much game for online shopping, taking a look at the popularity of e-commerce sites like Zalora and even Taobao. But it doesn’t really mean that they’ve stopped shopping at brick-and-mortar outlets.
Why? The best price is what it’s all about.
Typically, buying at retail outlets will afford customers the luxury of having to purchase their items with shopping deals like getting two for the price of one. Then there are the extra benefits such as cash-back and reward points if they shop at certain outlets. It’s all about wringing your money for what it’s worth, and more.
This is not often found with online shopping.
Mobile or online shopping is popular, but won't push out brick-and-mortar shops just yet
Singaporeans are wary of the fact that an item can cost one price on a shopping site, and yet a completely different one on a shelf in a retail shop. At the same time, they dislike queues and want payments to be done at breakneck speed, which is possibly why we’ve got a large number of contactless payment points.
They still enjoy shopping in retail outlets as they’re able to see the items for themselves and make a consideration before purchasing. While online purchases cannot provide this experience, it does make up for it in terms of allowing you to shop in your singlet and shorts in the middle of the night from the comfort of your bedroom.
The ultimate showdown is this – millennials want shopping to be a process that’s seamless and integrated. This is irrespective of their shopping channel of choice. There shouldn’t be hiccups when it comes down to shifting focus from a laptop to an iPhone to an actual store as they hunt down the best services or products.