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Are millennials the “Savviest Shopping Generation”?
They might be, according to Ibotta’s 2017 Millennial Shopping Report.
Ibotta, a leading mobile shopping app that pays consumers cash back on their everyday purchases, released the new research in advance of its first-ever “Ibotta Days” pre-holiday event, and to mark a milestone moment: $250 million in cumulative cash rewards to its users.
After analyzing more than 65 million purchases made since 2012, Ibotta researchers found that millennials are the shopping app’s fastest-growing demographic: Up by 11 percent since the beginning of the year and they now account for more than 53 percent of users.
Millennials are rewards-driven, mobile-first consumers and have claimed the title of “Savviest Shopping Generation,” the report shows.
For the Millennial Shopping Report, researchers compared the shopping behavior of various age groups and found that, for example, Millennials were buying wine at a higher clip than their generational counterparts. Overall, wine redemptions within the Ibotta app grew more than 80 percent over the past year alone, with millennials purchasing rosé 1.3 times more often than non-millennials. The analysis identified the best days to save on rosé and other millennial items, including:
Avocados: 25 percent cheaper on Wednesday vs. Sunday, the worst day to buy.
Coffee: Eight percent cheaper on Wednesday vs. Sunday, the worst day to buy.
Craft Beer: 14 percent cheaper on Thursday vs. Sunday, the worst day to buy.
Hot Sauce: 11 percent cheaper on Friday/Saturday vs. Sunday, the worst day to buy.
Kombucha: 16 percent cheaper on Wednesday vs. Tuesday, the worst day to buy.
Quinoa: 15 percent cheaper on Thursday vs. Monday, the worst day to buy.
Rosé: Nine percent cheaper on Wednesday vs. Tuesday, the worst day to buy.
Despite 10 percent smaller basket sizes than non-millennials, the report reveals that millennials spend 35 percent more at higher-end grocery stores than other generations do at places such as Whole Foods, Sprouts, and Fresh Market, compared to non-millennials.
What’s more, the report shows, Millennials frequent nutrition stores such as GNC and Vitacost, 33 percent more often and beauty stores such as Ulta, 13 percent more than non-millennials. Costco and Target were favored big box stores, with millennials 14 percent and 23 percent more likely to shop at Costco and Target, respectively, compared with other generations.
Where do millennials shop the least? They shop less at dollar stores than non-millennials, as well as at pharmacies, arts and crafts stores, home improvement stores, and footwear and apparel stores.
According to the report, Utah, Arkansas, and North Dakota rank among the top states for active millennial shoppers compared with their generational counterparts.
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