- Corporate Trust: 82% of Millennials are more likely to buy from a company that treats its employees well, and the same amount are more likely to buy from a company that they can trust with their data.
- Economic and/or Environmental Impact: 51% of Millennials are more likely to buy a product made by a small business, while 48% are more likely to buy from a company that actively tries to reduce its environmental impact
- High DI&B Standards: 47% of Millennials are more likely to purchase from a brand committed to diversity/inclusion, while 43% say a brand advocating for racial justice makes them more likely to become a customer. Additionally, 42% of Millennials say they’re more likely to buy products from brands owned by a person of color.
- Gender and LGBTQ+ Advocacy: 46% of Millennials say brands that advocate for gender equality are more likely to get their purchases, while 36% of Millennials are more likely to buy from brands that advocate for LGTBTQ+ rights.
While ESG strongly matters to Millennials, let’s see how these issues stack up against other factors in their purchase decisions.
What Drives Millennial Purchase Decisions?
Just as they do for all generations, price and quality are the top factors when it comes to Millennial purchase decisions.
Now let’s see which of these are most important to Millennials Wuhan Mobile Phone Number by forcing them to choose just three of the factors they consider.
Unsurprisingly, price, quality, reviews, and features remain in the lead. But a brand’s social media presence, whether a brand has an active community around it, whether the brand donates to charity, and recommendations from influencers rise.
While these aren’t even in the top 8 factors in Millennials’ purchase decisions, among those who consider them, they are highly important.
How Do Millennials Prefer to Purchase Products?
65% of Millennials prefer to buy products in-store, while 55% favor going through online retailers like Amazon. About 1 in 3 like to purchase directly from a company’s website
When it comes to mobile apps, 21% of Millennials prefer purchasing through social media, and 1 in 5 like to go through a company’s mobile app. of Millennials have purchased a subscription for a physical product in the past three months, slightly below Gen Z, but comfortably higher than Gen X and far ahead of Boomers.