The Real Data On Millennials’ & Gen Z’s Holiday Shopping

Millennial research, Millennial insight, Millennial marketing, Gen Z research, Gen Z marketing, Gen Z insight, youth research, youth marketing

Holiday sales exceeded expectations, so we checked in with young consumers to find out all about how, where, and how much they spent this season...

Retailers had high hopes for Millennial and Gen Z spending this holiday season, and the optimism paid off. Several studies declared that this would be the biggest shopping season yet for 13-35-year-olds, with The National Retail Federation, RetailDive, and more predicting that young consumers would spend more than any other generation. EMarketer also predicted that this boost would be particularly prominent for online shopping, forecasting that total retail sales were expected to grow just 3.1% while online sales were predicted to jump 16.6%. Our own research showed that retailers would have quite a haul this year: four in five Millennials told Ypulse that they planned to shop for the holidays this year. We calculated their spending power could be over $25 billion, based on their own estimates of what they planned to spend on gifts for others and themselves.

So how did it all turn out? Even better than expected, according to The NRF. While they predicted an increase of between 3.6% and 4% over 2016, holiday sales during November and December actually increased 5.5%. And the International Council of Shopping Centers found that overall spending rose by 18%. According to Ypulse’s Post-Holiday Shopping Topline, 83% of 13-35-year-olds shopped this holiday season, and they reported spending an average of over $750. This is a significant increase over last year, when they spent an average of just under $500. To get a better sense of when they spent that money and how, we asked 1000 13-35-year-olds to tell us the days they shopped, and where they went to do it:

Millennial research, Millennial insight, Millennial marketing, Gen Z research, Gen Z marketing, Gen Z insight, youth research, youth marketing

Like last year, Black Friday and Cyber Monday were the biggest shopping days for…

 
 

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The Newsfeed

Quote of the Day: “[It’s Always Sunny in Philadelphia is] my favorite satirical/dark comedy for the past 12 seasons and it hasn't dipped in quality since.”—Male, 21, NY

Nike’s new store puts mobile use at the center of the experience. Using geo-fencing, Nike knows when a customer walks into their 68,000 square foot space and changes the app accordingly. Users can see tailored content and offers, book styling appointments on-site, scan mannequins to have product delivered to their dressing room, and more. Based on the success of similar stores in L.A. and Shanghai, Nike execs hope their new flagship will build up Nike’s Brandom, and drive app downloads in the process. (Ad Age)

Jell-O is rolling out edible slime kits. Their Unicorn and Monster kits cash in on the slime trend, which has been booming in the anxiety economy for at least three years. Elmer’s, Cra-Z-Art, and Nickelodeon were all quick to tap the trend for marketing and products while Jell-O is a little late to the party. But considering that 82% of teens told Ypulse last year that they’ve participated in at least one trending activity to relax, there might still be time to capitalize. (Vox)

BuzzFeed is getting into the retail game, with plans to open family-focused stores across the country, starting in NYC. The brick-and-mortar venture, called Camp, will sell toys and apparel to Millennial parents and their kids, and the first is scheduled to open in time to capture some holiday spending. The concept is copying Story by changing up products and experiences every eight to 12 weeks, because, “we want to deliver adventure every time they come to the store.” (Ad Age)

Pharma companies are using influencers for social media marketing. Wego is a platform that connects patients with social media followings to pharmaceutical companies for marketing activations, like posts about drugs and devices. One company at least has seen success using the approach: Sunovian's earned media impressions surged from fewer than 100,000 to more than 13.2 million after working with Wego. The biggest caveats to that cashflow could be abiding by FDA regulations and contending with “a myriad of ethical issues." (STAT)

Eighty-five percent of Millennials have purchased a product after viewing a branded videoThat’s nearly 10% higher than the adult average for the U.S, U.K., and Australia, according to Brightcove. In addition, 56% ranked videos as more engaging than any other marketing materials and 46% said its their favorite form of brand communication. They're also seeking Shoppable content: 30% said they're interested in videos containing purchase links. (Marketing Charts)

Quote of the Day: “Black-ish is my favorite show on air because it's informative, funny, relatable, and political…I know that I'll be entertained and maybe even learn something new or think critically about certain issues.”—Female, 22, PA

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