A new report from Yes Lifecycle Marketing reveals Millennials are buying from Amazon at a higher rate than Baby Boomers, Generation X, or Generation Z with nearly 80 percent of Millennials reporting a purchase from the online retail giant within the past month.
So, when Amazon Prime Day arrives tomorrow (July 11), Millennials are most likely to take advantage of the exclusive offers. If you’re one such Millennial, you’ll be happy to know that while Prime Day officially begins tomorrow, some deals are actually beginning tonight at 6 p.m., giving you 30 hours to participate in this year’s event. Amazon’s first Prime Day was held on July 15, 2015, the anniversary of its founding by Jeff Bezos.
Over 1,000 consumers of all ages were surveyed in March 2017 by Yes Lifecycle Marketing for its generational consumer behavior report, A Marketer’s Guide to Reaching the Generations. The report found that over half (55 percent) of Millennials choose to buy from Amazon for its Prime benefits and over three quarters (76 percent) buy from Amazon because of its prices.
About the findings, Yes Lifecycle Marketing president Michael Fisher, said, “Amazon Prime benefits draw in Millennial shoppers more than other generations by aligning with their preference for loyalty messaging and programs. By segmenting their customers by generation, marketers can pinpoint customer preference for elements like messaging, channel and timing, and define distinct strategies that resonate with those audiences. And in turn, marketers will create long-lasting relationships with their customers.”
After Millennials, members of Generation X were the second most likely to buy from Amazon, with 69 percent reporting a purchase in the past month.
The report also found that in contrast to Millennials, Baby Boomers are more likely to value Amazon for its convenience and product selection, while those from Generation Z are more likely to shop in-store. Amazon, however, was popular with all generations with 63 percent of consumers having made a purchase on Amazon in the past month.
Michael Iaccarino, CEO and chairman of Infogroup, the parent company of Yes Lifecycle Marketing, praised Amazon for doing a good job of delivering cross-channel communications that speak to millennials’ preferences and behaviors. This has allowed them to be reached where they want and how they want, something other brands should take note of. “As Centennials enter the job market and gain buying power, all brands, Amazon included, need to adapt their marketing communication strategies to speak to these digital natives,” Iaccarino stated.
For additional findings and to download A Marketer’s Guide to Reaching the Generations, please click here.
Danita White for TechFunnel.com