9/30/2014
How Young Adults Shop
Ann-Marie Vazzano
Shopping is a favorite activity among nearly half of all teens and young adults aged 13 to 24, according to a new survey by Forest City in partnership with Alexander Babbage, and more of these young consumers prefer to shop in-store than online. Their top reasons for preferring the mall over the Internet are the social aspect (shopping with friends) and in-store displays. Young shoppers are four times more likely to be influenced by friends and three times more likely to be influenced by in-store displays than by social media, the study found. In addition, 71% of monthly expenditures by 13 to 17 year olds and 69% by 18 to 24 year olds are made in brick-and-mortar stores.
These young shoppers are also price-sensitive and like to seek out sales and discounts.
“This generation grew up during the recession, a time when everyone was trying to cut costs, including their parents,” says Jane Lisy, Forest City’s senior vice president of marketing. “Even though our economy is now recovering, these deal-seeking habits are still important to young shoppers.”
GP