We
explore the latest findings from research into the online behaviour of Gen Y,
and it isn’t what you’d expect.
Thanks to extensive research
conducted by Flywheel, an innovative
IT team based in London, we can finally know for sure which brands and retail
experiences Gen Y LOVES and of course HATES.
According to Flywheel, “Gen Y
feels very differently about the way they buy than previous generations.”
Online spending of Gen Y, or people aged 18-33 years, by far exceeds that of
all other generations, but they are also the most brand-conscious and therefore
selective when it comes to purchasing.
Results found that 95% of the
total 639 Gen Y participants LOVE the Amazon brand, way ahead of runner up
Apple at 51%. Clocking in at No.1 for retail, travel was 69% purchased online
as opposed to offline in 2012, and entertainment was second with an even 50/50
split between online and offline, showing an increase of 15% from the previous
year. The most surprising figure of all according to Flywheel, was the amount
of Gen Y’s buying their clothes on line at 27%.
So what does this mean for the
average business? EASE. Reaching Gen Y is all about making it easy for the
consumer, by being in the right place at the right time, carefully aligning
your 4 Ps (price, product, promotion, place) for the easiest purchase possible,
and taking your business online wherever possible.
You can see
all the Flywheel findings here.
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