Millennials Trust Strangers On How To Spend More Than mum And Dad

A new study by Brazaarvoice and The centre for Generational Kinetics and Kelton Research shows just how differently millennials use outside input from others to sway their spending habits.  

More than 40 per cent of consumers in their 20s and 30s said they would trust other shoppers over their own friends and family before they make a purchase, especially on big ticket items like electronics (44 per cent), cars (40 per cent) and credit cards (29 per cent).

On the opposite end of the spectrum, nearly 70 per cent of boomers said they’d turn to relatives and their buddies for advice before anyone else.

“Millennials have grown up in a world where word of mouth is shared and found just as easily on a blog or in a product review as it is around the water cooler or at a dinner party,” said Brett Hurt, Founder and CEO of Bazaarvoice. “The result is that this generation expects to have access to opinions from people like them no matter where they are or how they shop.”

But it’s not like the young ones are hitting up mallrats with consumer satisfaction polls or anything.  

They’re turning to user-generated review sites like Yelp!, tracking “Likes” on Facebook and prowling the comment section on Amazon.com products before they click “Buy.” A whopping 84 per cent said comments from complete strangers have at least some influence on where they do business. 

But why?

Nearly two-thirds said they simply find user comments more trustworthy and genuine than anything they’d find online or from the company itself.

And with 42 per cent of millennials saying they’ll share positive and negative feedback via social channels before going directly to the companies themselves, it’s clear they’re aware of just how powerful social media can be in catching the attention of the higher-ups. 

See the infographic below for the rest of the findings: 

bazaarvoice

Photo: Bazaarvoice

 

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