Stats of the Week January 20, 2014

Written by: Jackie Mendez
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Every week (or so) we compile lots of interesting stats here at Fanscape and we try to share a lot of what we learn with you in these posts.  Today may be a holiday, but we still got us some stats. Enjoy!

Word-of-Mouth A Bigger Purchase Influence For Millennials Than Boomers, Who Rely More on Ads

A recently-released study from Radius Global Marketing Research identifies some key similarities and differences in shopping habits, preferences, and influences among Millennials (18-32) and Baby Boomers (49-67).

In a nutshell, Millenials are much more influenced by Word-of-Mouth than Baby Boomers who are tend to still look to traditional advertising.

The strength of WOM isn’t too surprising, given research released last year by Nielsen finding that recommendations are the most-trusted and most-influential information sources among global consumers. Traditional advertising media also figured prominently in that survey.

Meanwhile, the Radius study also turned up some other intriguing data. Among the highlights:

  • Boomers are more likely to have purchased travel products online than Millennials, although both generations generally buy a range of products in retail stores rather than online;
  • Quality is the most important apparel purchase factor for Boomers, while price is tops for Millennials;
  • Millennials are about 4 times more likely to use smartphones to research product information than Boomers, but that doesn’t take away from PC research, as they’re also slightly more likely than Boomers to use a computer to research products; and
  • 9 in 10 female Boomers use Facebook, putting them on par with Millennials’ use.

Source: Marketing Charts