And, what’s shaping the young shoppers’ decisions? Of the key shopping influences, friends and in-store displays topped the list. In fact, the study found that young shoppers are four times more likely to be influenced by friends and three times more likely to be influenced by in-store displays than by social media.
The survey also found that teens and young adults are more deal-oriented than generally expected. In addition to finding a deal, young shoppers seek an experience that delivers individuality, authenticity and uniqueness. Results also show that teens and young adults visit large shopping centers more frequently and spend more money there than at any other virtual or physical shopping venue. Specifically, the survey found that 71 percent of monthly expenditures by 13-to-17-year-olds and 69 percent by 18-to-24-year-olds are made in bricks-and-mortar shopping locations.
In addition to music, movies and video games, 46 percent of teens and young adults cited shopping as one of their favorite activities.
The survey also found that 13-to-17-year-olds are less brand-centric and more price-sensitive than 18-to-24-year-olds. However, both groups prefer sales and discounts over other tested ways to enhance their bricks-and-mortar shopping experience. Gift card incentives ranked especially high among this age group, followed by sales at favorite retailers. The 13-to-17-year-old group showed a stronger interest in using malls as places to “hang out,” compared with the 18-to-24-year-old age group.
Personalization and individuality also ranked highly among teens and young adults when it came to their shopping experience. Nearly 65 percent said the ability to personalize their clothes, shoes and accessories had a positive impact on their overall shopping experience.
“Young shoppers want an experience that provides a combination of personalization and convenience,” Lisy added. “Fashion is a way for them to show their individuality, so being able to purchase customized items is very important to them.”
The survey also revealed data on the role of mobile, social and digital media in the shopping experience. While most young adults indicated that using a mobile device is the least preferred way to shop online, they also said the ability to use mobile devices to receive offers and information positively affects the shopping center experience. Email communication was revealed as the preferred medium for fashion, brand and retail information.
“It’s important for brick-and-mortar stores to incorporate mobile devices into their marketing strategies,” Lisy said. “Although teens and young adults do not prefer to use their phones to purchase items, they do like to use mobile devices to get special offers, compare prices and share with friends.
SOURCE Forest City Enterprises, Inc.