A study from Razorfish says marketers are underestimating the digital divide between Millennials and Gen Xers and losing both sales and loyalty in the process. Millennials are far more engaged with the technology around them than their slightly older peers, and mobile devices are essential to how Millennials shop and buy (83 percent of Millennials own a smartphone vs. 64 percent of Gen X).
Fifty-six percent of Millennials say their phone is their most valuable shopping tool in-store—compared to just 28 percent of Gen Xers—and 59 percent of Millennials use their devices to check prices while shopping (vs. 41 percent). Millennials also are more interested in mobile payment technology (66 percent vs. 46 percent) and outpace their Gen X counterparts in nearly every digital activity, from social networking to streaming media.
Millennials express a more emotional connection to their digital devices than Gen X; for example, 72 percent of Millennials get excited when they receive a text message or notification compared to just 50 percent of Gen X. Millennials also don’t see a difference between “online” and “offline”; technology is an integral part of their lives and it’s how they interact with and experience brands, even when in traditionally “offline” environments.