Report: Call them “MALLENNIALS”
The younger generation appears to be more brick-and-mortar than anyone expected. They may live and breathe online, but come the holidays, they are going to the mall, says the new “2014 Holiday Shopping Behavior Survey” from Simon, a global retail real estate leader.
89% of respondents between the ages of 18 and 33 who plan to buy one or more gifts said that they intended to shop at the mall this holiday season.
“As today’s technology-savvy Millennials clearly know, there’s just no substitute for the inspiration and sense of discovery that malls provide,” said Mikael Thygesen, chief marketing officer of Simon. “The wide variety of shopping options is a major mall attraction as they search for that perfect gift for family members, friends and co-workers.”
The mall continues to be a popular destination because it “has the latest and hottest fashion and styles of the season,” said 87% of respondents. The same percentage admitted that they like to browse stores for holiday gift ideas and 85% agree that malls provide the wide variety of retail options when shopping for different people.
Shopping at the mall also provides Millenials with a “real sense of accomplishment” and helps avoid the risk of gifts not being delivered on time. 20% of millennials even said they will be shopping at the mall on Christmas Eve (a number unmatched by any other generation).
The survey also exposed the altruistic side of the Millenials. 25% of the respondents said that they will volunteer their time with a charitable organization this holiday season.
“It is great to see young adults ‘giving back’ at this time of year, an approach we’re actively encouraging through our ‘Spread Love’ initiative at Simon malls all across the country this holiday season,” said Thygesen.
The survey also revealed certain shopping trends shared by all generations across the board, like purchasing gifts at the mall after first browsing the store’s website. More than a half of holiday shoppers (51%) plan to use their mobile devices for price comparison while holiday shopping.
When asked about “their favorite person to shop for this holiday season,” only 2% answered “dad.” Shopping for “children” seemed to be a favorite for 40% of respondents. “Spouse/partner” tagged closely behind at 24%, “mother” finished fourth at 9% and “boyfriend/girlfriend” snagged 8%.
“At Simon, we feel dad’s pain at this festive time of year and hope fathers everywhere will rise on gift-giving lists as the holiday shopping season peaks in coming weeks,” said Thygesen.
When asked about types of gifts they hoped to receive this year, more than half of respondents selected gift cards (54%), followed by cash (45%), clothing (38%) and small electronics (28%). Right behind it were fragrances, perfume and personal care products (all at 22%) and jewelry (20%).
For additional survey results, please click here.