Younger shoppers are especially excited for Prime Day.
A new survey reveals that your age is a strong indicator of your likelihood to shop for summer online deals.
According to a new Adobe Commerce U.S. consumer study, 61% of respondents are looking forward to online summer sales such as Prime Day. However, this overall figure varies widely when broken down by generation, with younger consumers much more likely than older consumers to look forward to Prime Day and other summer sales: Gen Z (85%), millennials (79%), Gen X (64%), baby boomers (38%).
Of those respondents planning to participate in summer sales, 76% say they will spend more or the same amount as last year. Leading motivations include saving money (56%), getting ahead seasonal holidays (32%), and back-to-school shopping (23%). Top summer sale categories respondents plan to shop include clothing/apparel (43%), home goods/improvement (29%), health & beauty (26%), computer/electronics (22%), pet products (17%), toys (16%).
Almost two-thirds (64%) of respondents believe Prime Day discounts will be smaller than last year. Nearly 24% of respondents said they don’t plan to shop on Prime Day because they have less discretionary money to spend due to inflation and the higher cost of goods. Others will not participate this year because they are:
Worried about the economy and its impact on their financial situation (21%).
Shifting spend to necessities (20%).
Putting extra money into their savings (15%).
Online shopping gains traction Looking at broader e-commerce trends, the survey reveals that almost all respondents shop online (93%); with 50% of Gen Z, 49% of millennials, and 35% of Gen X doing most of their shopping this way.Half (50%) of respondents said they are now more likely to make retail purchases on mobile phones, compared to the 26% who prefer in-store shopping and 24% who prefer shopping via their computer or desktop.
More than half (57%) of respondents were driven online when stores were out of stock. Seventy-six percent of respondents report that they search for better prices online first and read reviews before they make a purchase in a store, with 60% making price comparisons at other retailers on their phone before purchasing products. The generations that do this the most are Gen Z (86%) and millennials (77%).
Consumers seek personalized, new experiences Two-thirds (67%) of respondents say that, when shopping in-store or online, they would like to receive personalized promotions or offers based on their spending habits. Six in 10 (61%) also say receiving these promotions will make them more likely to make a purchase. There’s variation in the likelihood to purchase based on generation as well, with Gen Z at 72%, Millennials at 78%, and Gen X at 66%. Of those who have received personalized recommendations, 72% said this led them to purchase more goods than they originally planned.
Thirty-seven percent of respondents are open to the idea of augmented reality experiences, 28% are interested in immersive and interactive shopping experiences (like shopping in the metaverse), and 26% have already participated in live-streaming shopping events.
BNPL, BOPIS generate interest Buy Now, Pay Later (BNPL) payment is gaining traction among respondents, especially Gen Z and millennials. More than four in 10 (43%) respondents said they are more likely to purchase from a retailer that offers BNPL because it’s easier to make payments (62%), they want to take advantage of delayed payment (45%), there is more flexibility for making purchases (49%), or because of low or no interest rates when making payments (22%).
BOPIS is also gaining traction among consumers, with 57% of respondents reporting they use BOPIS and 80% of users leveraging this form of fulfillment two or more times. Most (79%) respondents who use BOPIS like it because it’s convenient, while 49% say it helps them get orders faster than if they were shipped and 29% like that it allows them to get items that day.
Free returns are a priority As for returns, if the items purchased online don’t work out or are no longer needed, 90% of respondents want the option to return their item(s) for free. If the retailer charges a fee to return an item they purchased online, over half (57%) are more likely to not buy from that retailer again, and 46% are likely to purchase the item from another retailer.
Respondents also want to have the option to return their item(s) at the retailer’s store location (60%), via mail (56%), or at another return location that is close to where they live (46%).
The Adobe Commerce study was conducted by Advanis in June 2022 with 1,115 consumers in the U.S.