Young shoppers 'are elusive targets for retailers'
This year young shoppers are expected to spend around £5.7 billion. A new study from Verdict has found that shoppers aged between 15 and 24 are likely to spend large sums of money throughout this year.
However, the company has also warned that retailers need to take care when it comes to addressing their younger demographic, especially as they are the most likely to respond to social media campaigns and engage with brands on these platforms.
“With e-retail more competitive than ever before, even as it grows to be worth £39 billion in 2014, targeting shoppers directly is essential, but the 15 to 24 year old age group is proving to be elusive," said Verdict.
This age group is more likely to shop on their own when browsing online, but are also more engaged with social media. this is shown through the fact that around 20 per cent have purchased goods by clicking through Facebook, compared to the average of just ten per cent.
Shoppers aged between 15 and 24 are also more likely to shop via mobile devices, showing the importance of mobile-optimised sites. They are also prone to compulsive purchases.
Retailers should seek to engage with young shoppers on the go and via social media in order to benefit from their increased levels of loyalty.