Study: Younger consumers phone the sale in
The stereotype of younger consumers spending all their time glued to smartphones may have some validity, at least when it comes to shopping.
New custom Interactive Interactive Advertising Bureau (IAB) analysis of Prosper Insight data shows that adults ages 18-34 are more likely to favor smartphones for retail activities than any other age group.
While overall, consumers are more likely to purchase using a tablet (35%) than a smartphone (28%), the 18-34 bracket (roughly corresponding with the generation commonly referred to as “millennials”) is more inclined to make purchases using a smartphone (43% compared to 35% on a tablet). In comparison, consumers 35-54 are more apt to use a tablet for purchases (41% compared to 35% of the general population).
In addition, 18-34-year-olds are more likely to read a product review on their smartphones (44% compared to 32% general population) and less likely to do so on tablets (32%). They’re also inclined to check prices on a smartphone (42% compared to 33% general population) and are less likely to do so on a tablet (32%).
Meanwhile, consumers 35-54 are more prone to use tablets to read product reviews, locate stores, check store hours, and check product pricing (40% compared to 35% general population). And consumers 55-64 are more than twice as likely to make a purchase on a tablet (34%) than on a smartphone (15%).
Older consumers 65 and up are more than twice as likely to make a purchase on a tablet (26%) than on a smartphone (11%). They are also nearly twice as likely to read a product review on a tablet (31%) than on a smartphone (17%).
IAB also examined data on showrooming, and found that half of U.S. adults regularly conduct some form of showrooming. Showrooming is defined as comparing prices on a mobile device while in a retail store before purchasing. The most likely outcome of the typical showroomer after checking prices is to buy in a physical store (57%) – whether at the current retailer’s or another retailer’s store.
The next likely scenario is to buy from another store’s website (53%) – either on a mobile device in store or a computer after leaving. Those 18-34 are the likeliest group to showroom (67%), and when they do so they are prone to make purchases from another retailer, whether at a physical store, using a mobile device, or using a computer after leaving. In contrast, over half (53%) of 35-54 year olds showroom, and have an equal likelihood of buying in the store or at a competitor’s store. Showroomers 55 and older, however, are more apt to simply buy in the same brick-and-mortar retailer where they are engaged in showrooming activities.
Use of comparison shopping apps is also a critical differentiator among the generations, with consumers 55-64 most inclined to use one (44%). The age group just below them, age 35-54, are the least likely to use those sorts of apps (39%).