How to Future-Proof Your eCommerce Site for the Millennial Customer

  • “According to a 2019 study from CouponFollow, millennials now make 60% of all purchases online, up from 47% in 2017.
  • 45% of millennials are using voice assistants while shopping online.
  • Most common gripes with online shopping and the responses are telling:
    • 40%: Lack of product information and / or reviews
    • 28%: The website is too slow or has errors
    • 18%: It’s hard to navigate the site and find what I’m looking for
    • 14%: The online checkout is frustrating to use”

    AI Powers Citizens Bank’s New Millennial-Focused Rebranding Campaign

    • “Big regional takes a chance by ditching a safe but boring brand message for a young vibe and inclusive theme. New tagline “Made Ready” plays to modern consumers’ nonlinear life journeys and the institution’s AI-enhanced ability to meet their needs.
    • “Today, people move out, but then they move back; maybe they’re in the gig economy and have a second job. Maybe they’re thinking about upsizing, then downsizing,” Johnson continues. “We see the same thing with our business clients. They are having to cope with a great deal of turmoil in the world today.”

    Beth Johnson, Citizens Bank’s CMO and Head of Virtual Channels

    51% of Americans prefer to shop online, leading to an average e-commerce growth rate of 23% per annum.

    A notable social media presence also influences up to 56% of in-store purchases.

    80% of the businesses to implement chatbot automation to some extent by 2020.

    Out of 5,000 respondents, 38% rated their perception of bots as positive, 51% were neutral, while only 11% had a negative opinion.

    According to Forbes, 40% of millennials already use voice commands to make purchases. The numbers are bound to rise this year as well and are expected to reach beyond 50% in 2020.

    Top AI eCommerce on eMarketer

    Author: Rimma Kats

    “The largest share of retail marketers using AI—over a third—said they use it in search efforts. Nearly as many said they do so in recommendation engines for their products or content.” Read full post

    Author: Jeremy Kressmann

    “According to a March 2017 survey of internet users worldwide conducted by Qualtricsfor Rocket Fuel, 50% or more of respondents from the Gen X, millennial and Gen Z age segments said they value AI for recommending various products and services.” Read full post