Nearly half abandon shopping carts to save
Would you fake a birthday to get an online deal? What about hiring a personal consultant to make sure you’re getting the most out of your frequent-flier miles?
Those are just two of the tricks millennials use to find the best bargains online, according to new research from Mindshare North America’s retail arm Shop+, which analyzed more than 1,000 responses to understand how 18- to 34-year-olds shop.
Retargeted advertising is often considered by marketers to be annoying or creepy, but Mindshare’s report indicates consumers want to receive marketing if it comes with lower prices. Forty-seven percent of millennials put products in online shopping carts and then leave the site, hoping the brand will send them an offer in the form of an email or ad. Thirty-seven percent of overall adults admitted to using the same strategy.
Faking a date of birth is another popular tactic used to shave off a few dollars—26 percent of millennials have intentionally given a retailer a bogus birthday to get a discount, something 17 percent of all adults do.
Similarly, 36 percent of millennials have forked over multiple email addresses to retailers for additional deals compared with 30 percent of overall adults.
Thirty-six percent of millennials share an Amazon Prime account, which costs $99 a year, to receive free shipping versus 24 percent of all adults.
When it comes to travel, 31 percent of millennials and 23 percent of all adults wipe their Internet histories clean—to avoid the cookies that follow a user’s every online move—when shopping for airline tickets. (Without the data, airlines’ websites aren’t able to tell if someone has been researching fares, and travel marketers are more likely to offer cheaper prices.)
Moreover, 61 percent of millennials book travel on specific days of the week like Tuesday when prices typically drop, while just 48 percent of adults overall are willing to wait for cheaper options.
Despite the number of cost-cutting measures millennials try to use online, they’re surprisingly more likely to hire a consultant to manage their frequent-flier miles. Twenty-two percent of millennials have someone handling their travel perks compared with 15 percent of all adults.
Check out the infographic below that pulls out some of the main findings: