Millennials shopping behaviour has been a point of discussion for quite some time among e-commerce experts; Rightly so, as they display a few interestingly contradictory behaviour

In the latest E-Commerce Leaders Debate organised by Priceza, the leading shopping search engine of Southeast Asia, the prominent shopping trends among millennials has been uncovered. During the debate, industry leaders pointed out that millennial shoppers of Southeast Asia are pre-dominantly smartphone users and are highly sensitive to price.

According to the latest data from Priceza, the major portion of online shoppers in Southeast Asia region belongs to this segment; and thus, it is crucial for marketers to understand and cater to their preferences for succeeding.

“Millennials showcase a predominantly mobile first attitude. In our recent reports, we’ve found, 64.18 per cent of total sessions in Thailand are conducted through mobile devices. The figure stands at 71.34 per cent for Indonesia, 57.57 per cent in Malaysia and 48.56 per cent in Philippines. This mobile first trend is something marketers need to understand to capture the fascination of millennials. At Priceza, we are committed towards building a highly transparent and scalable e-commerce eco-system for both businesses and online shoppers. Therefore, it is of crucial importance to us that markets understand the need of majority of the shoppers i.e. millennials and cater to them. This way, both shoppers and businesses can be rewarded through the shopping experience and the e-commerce market in Southeast Asia will reach its full potential for growth”, mentioned a high-ranking Priceza official.

Millennials shopping behaviour has been a point of discussion for quite some time among e-commerce experts. And, rightly so, as they display a few interestingly contradictory behaviour.

While on one hand millennials are sensitive towards price and would rather research thoroughly about a product before making purchasing decision, they are willing to spend extra money on brands that support social and humanitarian causes. They are cautious buyers and yet impulsive in some cases.

Another interesting point that came up during the debate is the high level of social media engagement of millennials. As a segment, they spend minimal amount of time watching television and prefer to spend time on smartphones surfing social media. Thus, social media platforms such as Facebook and Instagram have high level of influence on their purchasing patterns. These platforms are the most potent tools for reaching out to them. Creating social media advertisements that go viral is the most effective way to get their attention.

Social influence

Being thorough researchers, online reviews and what others are saying about the brand in question is of vital importance to millennials. Therefore, marketers must be highly engaged towards creating a positive online reputation for capturing a larger share of millennial shoppers.

For this segment of shoppers, direct interaction with sellers is important. While making a buying decision, they are willing to engage with the brand in a deeper level by offering reviews and feedbacks.

The price sensitivity of millennials has been a point of discussion for a long time. In addition are their preference for high-value rebates over instant discounts. Although, brand loyalty among millennials is a debatable issue, a major portion of the shoppers are highly interested in loyalty programs.

Omni-channel model

Millennials display preference for ‘buy online, pickup at store’ trend, making the omni-channel e-commerce model highly relevant. In a region like Southeast Asia where shopping malls are not just purchasing destinations but also important landmarks for social interactions, this trend is even more prominent.

“Millennials form the largest part of online shoppers. And thus, not understanding their requirements is counterproductive for any online business. Millennials are tech savvy, highly involved and aware shoppers. As such, building up a relatable brand persona, being transparent in all interactions, enabling quick sign up option with Line ID or Facebook and offering products that add value become essential,” concluded Mr. Thanawat Malabuppha, CEO and Co-founder, Priceza.

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The views expressed here are of the author’s, and e27 may not necessarily subscribe to them. e27 invites members from Asia’s tech industry and startup community to share their honest opinions and expert knowledge with our readers. If you are interested in sharing your point of view, submit your post here.

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