Any country’s economy is highly dependent on its millennial population as these are the early adopters of technology, product or trends. Besides, millennials represent the largest share of Internet users aged between 16 and 64 years, globally. And, in the developed economies, they are holding the lion’s share of the internet population. Asia is the youngest region among all the regions across the globe; countries like Malaysia, India, China, Philippines, Thailand are among the list of top 10 countries having over greatest share of millennials. Vietnam, Malaysia and India lead the list with 68%, 67% and 63% millennial internet users, respectively.
According to the recent GWI Audience Report Q1, 2015 more than 80% of millennials own a smartphone. On an average, they spend 2.87 hours online via mobile phone every day. Close to half of total millennials population has a tablet, while one-third owning a console or Smart TV.
The report is based on one of the largest studies, concluded recently by interviewing 170,000 internet users in 32 markets, including USA, UK, India, China and all major markets.
Samsung is the second most popular brand after Apple among millennials. While a majority of the millennials use a Samsung Smartphone, the future intention of buying an Apple iPhone is much higher than a Samsung smartphone.
Usage of social networks is the top internet activity of millennials on smartphone. Nearly 51% of millennials have voted it as the top internet activity on their smartphone, followed by checking weather (505) and checking information about music, leisure and entertainment (47%).
Interestingly, 93% of millennials accepted that they maintain at least one social media account and spend 3 hours, on an average, per day on it. Facebook still holds the lion’s share of this time, though it is losing ground with each passing quarter. In contrast, photo/image sharing apps on mobile and desktop, Instagram and Pinterest, are gaining traction.
Overall Facebook messenger remains the most used messaging app among millennials, followed by WhatsApp and Skype. In China, WeChat dominates the chat app market, but outside China, Facebook chat services – both Facebook messenger & WhatsApp – are used by nearly one-third of millennials.
GWI also tried to understand the buying behavior of these millennials, especially on mobile devices. 42% of millennials have bought a product on a mobile. Despite having a big screen or better user experience, tablets have failed to attract these millennials, only 17% have used tablet for making a purchase online.
Shoes, Clothes, and Mobile were the most common products bought online and “Free delivery” has emerged as a biggest draw for shoppers. 3 out of 10 millennials said brand store presence on social media was the another important factor behind their buying decisions.
Changing device preferences for YouTube video consumption was another important trend recorded among millennials. Between 2012 and 2014, consumption of YouTube video on mobile among millennials has doubled.
Google, YouTube, Facebook and Yahoo remained the top visited websites among millennials.
- E-Stores should adopt marketing strategies to reach out millennials as they have the high buying power and are the early adopters of new products/services as compared to other generation. 75% of millennials belong to mid and top segments by monthly income.
- Brands must focus on buying habits of Millennials, aged between 17 years and 31 years. Products & Services offerings must be more aligned with Gen Y (millennials) interests rather than children, mid-age or older people.
- Mobile-first strategy must be in place to win millennials, as 4 out of every 5 millennials have a smartphone and use mobile internet actively.
- E-Stores must deploy more resources for social marketing as millennials are spending the most of their mobile internet time on social media networks. Facebook pages of brands should be active and responsive enough to handle customers’ complaints and grievances effectively. Engagement is the key.