Growing number of millennials are reading blogs to make a purchase decision. The study also revealed that 57 per cent of millennials compare prices in store before making a purchase and 62 per cent use e-coupons to make their purchases.
About 60 per cent are loyal to brands and one in two millennials look for high quality as predominant attribute in picking a brand. An overwhelming 75 per cent millennials believe that the brand should give back to the society.
One half of millennials use smartphones to search products and services and 45 per cent spend at least an hour everyday looking at products on retail websites.
Millennials constitute the most significant consumer groups since they are in their prime spending years. The study also said the generation invests a lot in technology and social media, and retailers and brands must alter business strategy to tap this market of young millenials. (HO)
Fibre2Fashion News Desk – India
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