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March 18th, 2013 at 10:48 am

How Millennials shop and spend in America

16 to 34 year olds are more likely to wield a smartphone or other mobile device as a shopping companion.

We all know that young people like to shop. All before the responsibilities of having a family set in,  in the relatively care-free years of high school and college, young people tend to throw their pennies into blouses, jeans and other must-have accessories. (Infographic)

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Today’s generation of 16-to 34-year-olds, known as Millennials, aren’t so different from previous generations in this respect. However, new research suggests that they are more likely to wield a smartphone or other mobile device as a shopping companion than their older counterparts — a key data point for any startup retail shop looking to cash in on apparel.

Half of millennials reported regularly using a mobile device to compare prices or read user reviews while shopping compared with just 21 percent of non-millennials, according to new data from the Boston Consulting Group. What’s more, the majority of younger shoppers prefer variety in sales platforms beyond just a bricks-and-mortar location. An ecommerce-enabled website and a mobile shopping app are key among this group, for instance.

In the infographic from software provider Baynote (below), check out other fun facts about millennials’ shopping druthers.

Photo credit: YPulse

Via Entrepreneur

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