According to stats, Millennials will make more than 60% of purchases this year alone, rising a great deal from 47% back in 2017. According to the CouponFollow study, the percentage of shopping undertaken in brick-and-mortar stores will fall from 53% recorded in 2017, or 40% in 2019.
Amazon will naturally be in the perfect place to benefit from this thundering shift, as more than two-thirds of the millennials make for 50% of the online purchases on Amazon. Leaving out only 3% millennials who do not use Amazon.
Coming as no surprise that eMarketer felt Amazon will be taking on approximately 47% of online sales in the U.S this year. Furthermore, they indicated that Amazon’s expansion hitting 101 million members in the U.S will bring in more shoppers for free shipping, discounts, and endless digital perks.
According to a study by CIRP an average Amazon Prime member spends approximately $1400 annually, compared to non-prime members who roughly spend $600 annually.
While Amazon holds it claims as number one, other retailers such as Walmart and Target are constantly circling to take on the lead. Expand their digital stores and services, these retailers have Amazon constantly on the go. However, Amazons millennial users will still be able to take on any other online retailer in the market.
Contact Us to learn more about The Starren Group and how we can help you leverage Amazon to grow your business.