Millennial-age parents have a different way of shopping
As Millennials reach their late 20s and early 30s, many are entering the next phase of their lives: Parenthood.
A new report from The National Retail Federation finds that Millennial parents shop differently than those from other generations.
Katherine Cullen, director of Retail and Consumer Insights at NRF, says many Millennial parents embrace new ways of buying and trying products.
Millennial parents are twice as likely as parents from other generations to use a subscription service, says Cullen. They like receiving products on a regular basis to make sure they don't run out of things such as diapers. The "subscribe and save" feature on certain websites allow them to order online, have products delivered in a timely fashion and they save money.
Another shopping difference is how they view value and loyalty.
"They care about price but they also really, really care about quality. They want to make sure they are addressing their families, in providing for their families with products that are of high quality and that fit their lifestyle," says Cullen.
She says Millennial parents also turn to their smartphones at every point during shopping. More than 7 in 10 of them take their phone with them throughout their shopping journey. They'll use it in the beginning when researching a product or reading reviews. They'll use it to pay at checkout or place an order. In addition, 71 percent will leave a review, process a return or chat with customer service after purchasing compared with 43 percent of other parents.
Millennial parents are often in a hurry: 86 percent have used same-day shipping compared with just 67 percent of parents from other generations. They are willing to pay for convenience.
Cullen says Millennial parents care about what a brand really stands for, whether it's certain guarantees of it being organic or non-GMO or all-cotton products.
Another unique take-away from the survey is that Millennial parent shoppers are interested in attending special store events or retailer experiences. Cullen says they view these as opportunities to socialize with family and peers and make shopping a fun experience.