Millennial are the demographic cohort born between 1980 and 2000. They have emerged as the key drivers of social commerce as this generation is tech-savvy and is always connected with their friends on social networks. Also referred as Gen Y, millennial generation is estimated to account for a purchasing power of $2.45 trillion worldwide in 2015. This makes Gen Y an important target segment for internet retailers.
To help retailers understand this segment better, ShopSocially has released an infographic with insights into the social purchase sharing behavior of millennial.
Insights into Social Purchase Sharing:
- Average number of purchases shared per person for Gen Y males is 1.50 whereas this number for Gen X males is 1.18
- 80% of Gen X females are likely to share purchases on social media. This number is slightly lower at 62.6% for Gen Y females
Insights into referral traffic generated from social purchase sharing:
- Millennial females result in highest number of referral clicks per shared purchase
- Referral clicks from a socially shared purchase by millennial females is 52.63% higher than those from millennial males
Insight into influence of purchase sharing by socially popular millennial users:
- Millennial with more than 900 Facebook friends generate 3.95 times more referral traffic to retailers than those with less than 100 Facebook friends