It’s that time of year again. It’s time to prepare for the 2015 holiday season – for the chilly weather, family gatherings, and home-cooked meals. So here are a few insights from our 2015 Holiday Shopping Report to keep in mind as Millennials get ready to buy their Butterball turkeys (plus all the trimmings!) and presents for their loved ones:
Electronics top the Millennial shopping list this year. When asked about their holiday shopping lists (both for themselves and for others), here are Millennials’ top five planned purchases:
1. Electronics (including smartphones, TVs, tablets, computers, and laptops)
2. Clothes and Shoes
3. Video Games and Board Games
4. Children’s Toys
And just as a bonus, #6 on the list is the most versatile of presents: Gift cards!
The number one priority for Millennials during this year’s holiday shopping season is quality. 100% of respondents agree that quality is the “most important quality” to them when purchasing any product.
Online is becoming the preferred shopping method for MIllennials. 97% of Millennials will purchase holiday items online this year. Further, two-thirds make such purchases on their smartphones and 46% on their tablets. However, brick-and-mortar stores are still pretty popular for Millennial holiday shopping, as 88% will go to department stores, 80% will go to standard retailers, and 70% go to discount retailers.
Financially, this season is better for Millennials than last year. Almost half (48%) of Millennials describe their financial situation as better than last year and only 13% described its worse. Over half (53%) will be spending over $600 on holiday shopping, and 29% will spend more than $1,000. Almost one-fourth (23%) will be spending between $400 and $600.
November is the prime time for Millennial holiday shopping. 59% of Millennials will begin their shopping in November, while 20% specifically will start on Black Friday. What’s more, MIllennials are not limited to just one or two holiday shopping trips – as 69% admitted that they will go shopping as many times as needed to get the products they are looking for.
Keep these buzzReport insights in mind as you cater to Millennials this season and, from all of us at Buzz Marketing Group… Happy Holidays!
- Posted by admin
- On November 6, 2015
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