According to new research by Maybe*, a quarter of millennial shoppers consult social media before they commit to a purchase.
Despite this significant proportion of shoppers turning to social media, just over a quarter of retailers actively use social media to engage with customers.
The study focused on shoppers between the age of 16 and 34 in a bid to gain greater understanding of modern shopping habits.
Engagement with social media is becoming increasingly important for millennial shoppers. This was highlighted recently at London Fashion Week, where the world’s leading fashion brands threw away the well-established model of a six-month runway to retail waiting time, in order to deliver on millennials demand for instant access spawned by social media.
“The research presents an interesting dichotomy. On the one hand, 1 in 4 millennial shoppers are actively using social media to influence their decision making, yet on the other three quarters of retailers are failing to tap into that market,” Maybe* founder Polly Barnfield said.
“Consequently, they’re missing a huge opportunity to engage with consumers and help to facilitate a sale.”
Following the research, a new collaborative campaign has been set up called “What do you think?” (#WDYT) aiming to establish a dialogue between high street retailers and shoppers.