• How social media affects Millennial’s Purchasing behaviour?

    Those born between 1981 to 1996 (ages 23 to 38 in 2019) is considered a Millennial. The internet reach in India stands at 41%, but the country’s average age of 27.1 years is well reflected on social media, out of which 52.3% of social media results come from millennial. Let us find out how social media affects Millennial. Millennial are more prone to compulsively check their profiles on social network and updates.

    Hence, they are more likely to take riskier decisions and are also exposed to online exploitation. Social media could be as addictive as alcohol and drugs for millennial. Though every generation prefers posting pictures more than other types of content such as updates, opinions, and even video, younger generation such as millennial are more drawn to visually-driven platforms like Instagram. Approximately, 77% of Millennial surveyed agreed they are connected to Facebook almost daily with Instagram coming in second at 70%, and You Tube as third with little over 66%.

    Millennial usually prefer visual content to text-only content. They not only view visual content but are also more likely to share it with their families, friends, and people in their social communities. They also have more trust in the visual content than other types of contents.

    According to a survey, almost 79% of Millennial get connected to social media multiple times per day. Millennial derive ideas, style, or taste from a diverse and broad range of sources with varying interests. Almost 82% of millennial will buy a product for the first time if they like it enough. This also proves that as a group, they are impulsive purchasers and 70% of Millennial are significantly more likely to regret the purchases that they have made.

    Actually, there is a tendency among millennial to own less and maybe they are afraid of be aggressive spenders. They love spending on travel and adventure rather than owning art or valuable antiques. It has lot to do with their upbringing that prevents them spending big. Millennial are also more politically connected and 83% of them affirm that they prefer making purchases from companies that align with their belief and values.

    Around 57% of millennial are connected to fashion trends on social media, and they will likely spend $1.5 trillion in 2021. As consumers, Millennial are greatly desired and envied group, but at the same time baffling too. In comparison to Gen Z, Millennial are more wary of making purchases through social media.

    Videos are the preferred medium for Millennial, where they spend more time watching digital videos than traditional television, which is further demonstrated on the way they are connectd to YouTube and Instagram, but it also impacts their engagement with digital advertising.

    The Clever research found that Millennial especially engage with social media ads that feature video and images, and except other display ads, are more likely than older adults to engage with any digital ads they see. Generally, “in-your-face” advertising doesn’t work well especially among Millennial. Marketing on social media is all about sharing.

    In a study conducted on brands that market effectively to Millennial, brand strategy boutique FTT found that most of the businesses gave Millennial a reason to share their brand message by making the process of sharing easy, and by sponsoring share-worthy content rather than by exclusively buying advertising space on social media. They soon realized that social media is not a media channel but

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