To address lower foot traffic in stores, retailers have had to adopt an eCommerce-focused mindset. But as that focus shifts to online, retailers may be overlooking one key shopping demographic: millennials.
Teen Vogue, a magazine with more than a million subscribers that reaches more than 12 million online readers, conducted a survey to identify how millennials would shop this holiday season. The survey reported that 65 percent of teen shoppers would conduct a majority of holiday shopping in physical stores, while 35 percent would shop online.
“The big headline over Black Friday weekend was about record eCommerce sales," Teen Vogue VP and publisher Jason Wagenheim said. "But for the millennial shopper—especially the 16- to 26-year-old segment—the mall remains the most important part of the overall omnichannel shopping story. While she's definitely shopping more online and through mobile than in years prior, the brick-and-mortar experience still greatly matters."
Among the top reasons why respondents said they would rather go to a mall than shop online during the holiday season was to see the product in store (75 percent). The survey also reported that teens were most likely to be attracted to shopping in malls instead of online because of the store decorations, window displays and to collect festive shopping bags. That could be another factor in boosting foot traffic in stores, which could translate into sales.
Other key findings in the survey reported include that young women said when shopping in stores they are more likely to buy themselves something while shopping in a store for others. Browsing online helps shoppers create holiday wish lists (87 percent), the survey reported, while walking through the mall helped 61 percent gather ideas. These figures show that even teens are using online options to get them into stores this holiday season.