North Americans Making Smartphone Purchases, More Comfortable Ordering From Other Countries
According to the results of a survey of 23,000 consumers in 29 countries conducted by Ipsos on behalf of Paypal, millennials are overwhelmingly buying products online, especially in North America. While 66 percent of the general population in North America made an online purchase in 2015, 75 percent of millennials, or those aged 18-34, made an online purchase. When it comes to where their goods originate, millennials in North America are slightly more likely than the general population to order goods from international sellers, the survey found. In 2015, 42 percent of millennials ordered from a foreign seller, compared with 39 percent of the general population. These international orders were largely done via computer, with 64 percent of millennials ordering through a notebook or computer. However, 21 percent placed such orders via smartphone and 11 percent did so via tablet device, indicating the growing importance of mobile shopping. In comparison, 14 percent of the general population used a smartphone for a foreign order, and 10 percent used a tablet. Payments Source reported that worldwide, 73 percent of the millennial population has made a purchase online in the past year, compared with 70 percent of the general population. The younger generation is also more likely to use “freight forwarding” to save on shipping costs. Melissa O’Malley, the director of global merchant and cross-border trade initiatives at PayPal, said, “Millennials perceive fewer barriers. They’re more comfortable shopping across borders and you can’t necessarily say that about the general population.”
What This Means For Small Businesses
Small businesses need to know how to best deliver their goods and services to an increasingly tech-savvy, globalized marketplace. Surveys like the latest from Ipsos and Paypal reveal the growing importance of providing an online shopping experience for customers, particularly younger consumers.
Additional Reading
Biz Community (ZAF) also reported on the data.
Note: this article is intended to keep small business owners up on the latest news. It does not necessarily represent the policy stances of NFIB.
