Millennials and E-commerce
In this digital world we scroll on Facebook whilst we watch Netflix, or shop when we’re in the train from one place to another. Everything is available at our fingertips.
As an Publisher agency with presence in lots of verticals, it’s a logical goal to expand and gain market share in E-commerce as well. To achieve this goal, we got our own E-Commerce products.
As you might know, a lot of E-commerce advertising is targeted at millennials. This makes sense considering there are 105 million millennials in the market today, with an annual purchasing power of $170 billion. Millenials are aged 13-34, with a majority of 24 year olds.
We made a SWOT analysis of E-commerce targeted at millenials based on the research by Salehoo, in case you want to run campaigns focussed on this target group.
Strength; ‘they shop online all the time’ needless to say this is a huge advantage when you’re doing E-commerce.
Weakness; ‘they are much more cautious about spending money as children of the economic crisis than their baby-boomer predecessors.’ They have about 7% less to spend then their parents.
Another thing that showed from studies is that millennials always want to get the best deals. They don’t just buy, they are always looking for special deals such as discounts, coupons and promos. They are willing to wait for a flash sale or bid in an auction, hoping to stretch the dollar as much as they can. Use this as an opportunity in your campaigns.
Opportunity; ‘they are more likely to believe strangers than family and friends when it comes to product reviews’. This is huge opportunity for publisher marketing, create landing pages with reviews such as our US – EnvyTheseDeals – Militairy Jacket PL Ecommerce landing page.
Threat; ‘they are social animals’ mess with one…. However, even this ‘threat’ could be a huge opportunity if you give a seamless shopping experience and good customer service.
With this knowledge in mind, let’s run some E-commerce campaigns.
Ask your Publisher Manager for the latest E-commerce offers.