online shopping

Millennials’ Habits Are Changing How Shopping is Done

Adulting, Author: #NAMB Guest Author, Uncategorized

Retail stores are slowly dying, and we millennials may be, unknowingly, the cause of it. In 2017, we’ve seen a retail meltdown, with several worldwide brands like Macy’s and Sears announcing the closure of more than 100 stores. On the other side, e-commerce giants like Amazon are hauling in billions dollars of sales, breaking the records year by year. What is happening?

Being a millennial, I believe that traditional retail is dying and possibly will not survive through next ten years unless retailers level up their playing field. A study by Blackhawk Engagement Solutions suggests that millennials are leading the change in purchasing behaviors, and in order the stay ahead of the game, it is incredibly important for retailers understand how to better appeal to millennials. Omnichannel is the big thing now, as consumers — millennials included — prefer to have different methods of shopping available to them, simultaneously. If millennials are changing their shopping habits, retailers will need to have to know-how, and devise strategies to suit and adapt to our new shopping habits. 

We’re using mobile
Admit it. How many of us feel we are missing out “something” when we do not have our smartphones with us? Since Steve Jobs announced the first iPhone in the world, our lives changed. Now, smartphone has become an integral part of our daily lives. We used our smartphones to stay connected with our families and friends, the news, and even to buy things. And we even use them to shop online, from the comfort of our own couches, cars, or even while commuting home on the train. Mobile and social shopping has become our preferred way of shopping due to its convenience. We can do it everywhere. 

Many times, we research on social media before buying
Before making a purchase, 47% of millennials are influenced by research they conduct on social media on products, reviews, and discount deals. Most spend a few minutes searching for coupons and deals before committing to a purchase, and implement discount and promotions strategies. Comparing prices and reviews, finding coupons, and saving money have become new steps in the shopping process. Social media has now become the number one intelligence channel for shopping research. You can see what others truly think about the item, any sales that may be going on, tips for shipping, and actually interact with a brand. 

We’ve all become smart and savvy shoppers
Due to the influence of technology, millennials are savvy and smart shoppers, who are very sensitive to prices. Millennials don’t mind liking a brand on Facebook, or scanning a QR code, just to get more discounts. If we find higher discounts on products somewhere else, we don’t mind switching brands. 

We really like saving delivery fees
Buying online and getting orders delivered to our houses is good. However, buying online, picking it up in-store, and getting an incentive, is even better! Millennials don’t mind picking up item at store if entitled discounts like “$20 off $100.”

We’re more engaged in loyalty programs
Loyalty programs are still great tools for engaging with millennials. A study shows that 69% of millennials are part of a loyalty program

 

About the Author:

Derek Ang
Derek Ang is a millennial and is passionate about shopping smarter and saving money.

You Too Can Be a Millennial Cheapskate

Adulting, Author: Mary Grace Donaldson

Among my varied circles of friends, I have a bit of a reputation for… hatred of parting with my hard-earned money.

Now, this may not sound like a surprising confession to you, especially considering that millennials, generation-wide, have racked up large numbers in student debt and are widely known for wanting to save money. But everyone has his or her own methods for penny-pinching, and mine are tried and true.

So, how can you also be a millennial cheapskate?

Know how and where to do your online shopping
Be sure to really scour Amazon –- they sell items at lower prices that you wouldn’t even think to look for there. Direct sales companies such as LuLaRoe often have discount programs if you purchase from a particular retailer a certain number of times.

Know where you can also make money online
Yes, that’s right — you don’t just save money online, but you can make money, too. Of course, sites like Ebates actually pay you to use their site while you shop, and CashCrate allows you to bring in some extra cash in exchange for asking a few marketing questions.

Don’t be afraid of discount stores
As much as I’ll always be a fan of shopping online, in my bed, wearing pajamas… there are certain instances in which it’s easier to just go to the store. Pro tip: Target really has everything — from supermarket food (I pay .79 for a box of pasta that costs around $2 in the supermarket) to gifts for all occasions to clothes (yes, clothes). T.J. Maxx and Marshalls already sell clothes and a plethora of other items at discounted prices, but you’ll find clearance racks all over both stores -– meaning that the items on these racks are marked down markdowns.

Live at home
I’ve said it before and I’ll say it again. There are many reasons why there’s nothing wrong with living at home even over the age of 25 –- but one of the more obvious reasons is living rent-free. While its important and responsible and just all around the right thing to do to help your family with expenses while living at home, it is certainly less costly than paying rent every month.

And finally… don’t spend money on what you don’t need
I’m not saying not to treat yourself once in a while. But, on a regular basis, don’t buy things that aren’t practical. Think about where that less than practical item will end up once it makes its way to your bedroom. What will you use it for? When will you use it? And if you absolutely can’t leave it alone, is there an alternative to either a) the item or b) the retailer?

Save (and Make!) More Money Online and On Your Phone

Adulting, Author: Michelle Ioannou

Life is expensive.

That’s no secret. We try to budget, but sometimes (okay, all the time), it’s really not easy. We use our finance cheat sheet, but there’s still more we can do.

And that’s where saving money — and making money — online comes in.

What if I told you there’s a few websites out there where you can not only save money, but even make money? I know, it sounds too good to be true, but it is.

Now, for the websites and apps that you should be signing up for ASAP.

Ebatesebates-logo
I’m sure you’ve seen the commercials and probably even laughed at them — I know I did until one of my friends told me I needed to sign up. Since I joined in April 2015 I have made over $300 just from shopping online. That’s right, all I had to do is “activate” Ebates before checking out at an online store, and I got a percentage back. How does it work? Basically, Ebates gets commission from the store you’re shopping out, and they split that purchase with you. All you have to do is shop online like you normally would!

Honey honey-logo.png
I just recently downloaded Honey at the recommendation of one of my colleagues. I’m still scoping it out but I know she has had great luck! The Honey extension will automatically find coupons for you to apply upon checkout. That’s right, just shop as you normally would and proceed to checkout and Honey will automatically show you coupons that you can apply to the order.

Acornsacorns
Disclaimer: I’ve been saying I would download this but I have not taken the plunge yet. Acorns is an easy way to help you invest in stocks by investing your spare change. For instance, if you purchase something for $1.75 and you pay $2 for it, that .25 will go into Acorns. Once you have $5 in your account, a team of financial advisors will start investing for you. If you’re age 24 or under it’s free, however for those of us above this age, it’s $1 a month if your balance is under $5,000 and .25% per year if your balance is over $5,000.

5c2a8bb8-5cad-3e3d-85bd-79068d03416b.jpgCashCrate
I have been a member of CashCrate for a few years now, and have received over $600 from them. Unfortunately I have not had the time I used to to dedicate to this site, but I can guarantee that it’s legit. CashCrate gives you several ways to earn cash through taking surveys, completing offers and so much more.