How Millennials Buy in the Social Wild
If you’re wondering how social media influences Millennials’ purchasing decisions (and who isn’t), you may want to review NetBase and Edison Research’s recently released study on the very topic (see full report here).
The companies surveyed more than 1,000 women and found that the Millennials (18-24 years old) overwhelmingly consult at least one social platform (83 percent) before purchasing in at least one fashion category. Interestingly, NetBase and Edison Research found that while Facebook is the most used social platform by Millennials, it carries the least amount of influence over their buying decisions. Brands should still maintain a Facebook presence, but be sure to distribute their time and money to other channels, as blogs/message boards are most influential in buying decisions, followed by Pinterest, then Facebook, Instagram, Twitter.
As outlined in the report, it’s important to remember that fashion is inherently visual, as is retail. Luckily, Millennials are a visual group. By investing in Pinterest and Instagram, retailers position their products in the best possible light. Similarly, 58 percent of Millennials look to Pinterest for inspiration in at least one fashion category.