By Luanne Teoh on 08-24-2011

A recent study by AdAge showed that 68% millennials ask friends before picking a restaurant. Although that behavior may come across as indecisive and fickle by having to rely on friends and recommendations to make decisions, millennials are in fact very  savvy and know exactly what they want and how they like to shop. Their shopping habits represent a direct contrast to their parents as they incorporate technology like social media, mobile and network connections to make major buying decisions.

According to a report by Barkley in partnership with Boston Consulting Group and Service Management Group showed the following statistics:

• 32% of millennials prefer mass retailers like Target and Walmart compared to 27% of those ages 35 and above
• 34% of millennials shop at grocery chains like Kroger and Safeway compared to 44% of those ages 35 and above

Also in the report, it showed that millennials want the following top 5 key criteria when grocery shopping.

• 98% want good value for their money
• 95% shop at places that carry the products they like to buy
• 93% like places that offer really fresh produce, meat and dairy
• 92% like to shop at stores that always has stocked shelves
• 91% prefer stores that are convenient to get to

Click on graph below to enlarge

Based on all the measured criteria, those aged 35 and above showed lower numbers for the areas that millennials cared for most. The high percentage (98%) of millennials wanting value for money shows a very high price sensitivity to products. This could be tied back to the use of technology and their network to find the best deals  around. The discerning shopping behavior of  millennials prove that the most effective way to reach the millennial demographic is through technology and social media while providing value for money offers.

Instead of just having a Facebook page and Twitter following, the strategy here is to engage the current fans and influencers so they can be the ambassador of your brand and help you do the marketing to their network.

About Luanne Teoh

Luanne is a senior correspondent for BizTechDay focused on Small Business Tech, Mobile and China based in San Francisco. In the last 17 years, she has helped launch start-ups and turned around failing operations. Her international work experience include both public and private corporations in Southeast Asia, Australia and North America. She has previously worked for Oracle Corporation, SonyBMG Music, Universal Music, Catcha Media and SOH Inc. Apart from a keen interest in technology, Luanne is also and avid explorer of the globe, cultures and people.

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