A key component of most retail stores’ online presence is their social media networking, which can be used to keep potential consumers engaged in brand awareness, or even offer discounts on goods. This is particularly important when catering to a millennial generation that is increasingly social, and looking for great deals on products they love.
According to the university research on millennial shopping habits, Twitter followers will use the service to find deals on select products more readily than on Facebook or Pinterest at 85 percent of users. A further 80 percent of users will follow brands they like on Twitter, while 47 percent will subscribe so they can get regular updates. This compares to just 66 percent of millennials who use Facebook to find deals and 41 percent who use Pinterest. Facebook holds an edge with people looking for brand updates and public gestures of support at 83 and 84 percent respectively, while Pinterest is the weapon of choice for millennials who want to research specific brands and share their lifestyle choices, with 67 and 76 percent of respondents respectively as well.
In terms of the actual selling of items though, Twitter is the leader, which according to eMarketer’s analysis of data, makes Twitter crucial for retail sales. An estimated 75 percent of respondents said they made a purchase on Twitter of less than $50, compared to just 54 percent of Facebook users. Twitter users are also more likely to spend less than $20 on a purchase by 10 percentage points compared to Facebook users.
According to Pew Research data from last fall, a third of all Twitter users are in the 18-29 age demographic that retailers are targeting, which coupled with the revenue benefits of the network and relative frequency of purchases, make Twitter a key part of any retail online strategy.