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BizReport : Ecommerce archives : April 21, 2017

With rise of connected Gen Y, retailers must be fit for the future

The rise of the Gen Y shopper, mass adoption of smartphones and advances in technology mean that the path purchase is well trodden by connected shoppers, says Savvy in a report that warns retailers and brands to keep up.

by Helen Leggatt

Generation Y, as a group of shoppers, is fast becoming the prime target of retailers and brands. While they currently make up around a third of shoppers, within five years they will account for 47%.

And, this group of shoppers is always connected thanks to their smartphones. According to new research from Savvy, eight out of ten say they interact with their smartphone multiples times each hour and 97% are active on social media. Meanwhile, just 55% had read a printed newspaper during the month previous to the study.

However, while Generation Y may be a highly connected group, Savvy emphasizes that retailers and brands should also recognise that older shoppers are also connected. In fact, 80% of all shoppers own a smartphone, 86% access social media, and 61% have searched for a product using a search engine in the past month.

"The rapid rise of the connected shopper reflects the enormous influence technology now has in our lives as shoppers - digital media inspires us, is our go-to place for product research and, in many cases, is where we buy products," says Alastair Lockhart, Insight Director at Savvy Marketing. "Shopper behavior is evolving more quickly than ever before, and the onus is now firmly on retailers and brands to keep up and be fit for the future."

Tags: brand marketing, ecommerce, Generation Y, mcommerce, mobile, retail

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  • Retailers and big brands should definitely target Millennials or generation Y group of people as this generation are more tech savvy and always get in touch with their mobiles in different ways like searching products on the web, surfing social media etc.



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