Power Retail TV went on an adventure this week, to see how University students were engaging with online retail. Take a look at this video to see how Generation Y is embracing the e-commerce world.
These Melbourne students don’t represent online shoppers as a whole, however they do share their thoughts on online retail, and the key takeaways are:
- Online shopping isn’t as popular or addictive as some people might think with most of these students making a purchase “once a month.” However, this could also be a result of the minimal funds in a University students bank account.
- Clothes and accessories stand out as being the most purchased items by the students.
- Bricks and mortar stores are still popular, but comparison shopping is becoming increasingly important – wherever the biggest bargain is, money will be spent. This is also evident in the MasterCard survey that states older generations will tend to make their purchases with Australian companies, while 42 percent of 18-24 year olds make their purchases internationally (most likely to find the cheapest offer).
- When new technologies are launched, more information needs to be shared. QR Codes have been around for a while now, and majority of these students didn’t have a clue what they were, or how they are used.
What are your thoughts on how this small group of students view online shopping?