Which Retailers Get The Millennial’s Love?

As companies move to develop mobile shopping apps, this category is showing faster growth than any other subset of the app industry. According to Forbes, which surveyed over 1,600 millennials on their mobile app shopping use, key considerations tied to the online shopping experience, at least for mobile apps, should focus on customer loyalty programs or promotional activity.

In an article published Wednesday (July 8), Forbes, which noted that global sales powered by mobile devices are slated to top $280 billion by year’s end, up from $150 billion in 2014, reported that one in every two respondents surveyed downloaded a mobile shopping app on their phones. A majority of those polled used iOS, and females were “slightly” more likely to have downloaded apps. Multi-branded retailers have some edge over “single” brand peers, said Forbes, due in part to relatively larger inventories. One notable exception here is Forever 21, which showed strong use among the millennials due in part to high fashion cachet.

Of those millennials that downloaded apps, more than half said they used the apps because the experience was better than that found through a given retailer’s mobile site. Another 27 percent said they used the app(s) to look through discounts and promotions online. Finally, a further 13 percent used apps simply because they wanted to shop and did not have a computer nearby. Those were trailed by another 4 percent who said that using the mobile app was “mandatory” in order to get the products they wanted.

Most popular among all millennials using mobile apps were Amazon, Etsy, Forever 21 and Wanelo. Among men, JackThreads and Starbucks also appeared; while among women, Amazon and Wanelo were popular. The range of popular retailers was fairly consistent across age categories, which extended from 13 years old to 30 years old.

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To check out what else is HOT in the world of payments, click here.

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