According to GenY research specialists LiquidGeneration, shopping online was the holiday method of choice by Generation Y’ 14-29 year olds in its annual Holiday Shopping Survey.
Of the 1296 Gen
Yers that responded to the annual survey, 56% of those with Internet access bought their holiday gifts on the Net versus conventional stores. 61% of males responded that at least some of their
shopping was done on Online compared to 51% of female respondents.
Over half of all respondents (55%) felt that shopping online was easier than shopping in conventional stores, with males and
older respondents feeling more strongly about this point. 64% of all respondents felt that prices were better online than in conventional stores this year, though only 55% of females felt this way
across all age segments. Additionally, the majority of all respondents felt that shopping in conventional stores was still more secure than shopping on the Net. Most respondents still worried about
the safety of their credit card info when shopping online, with males and college-aged respondents worrying the least about security issues.
These numbers indicate a continued shift online in
Generation Y’s purchasing behavior. However, LG appears that the overall amount spent by Gen Y this holiday season was down from last year, with 35% of all respondents having spent less than last year
and another 38% indicating that they spent about the same as last year.
Current economic conditions had an impact on planned expenditures with 32% of all respondents spending less due to the
economy. At 46%, older respondents (25-29) were more influenced by the economy than younger respondents at 24.4% (14-17 yrs old).
35% of respondents to the survey indicated that they made fewer
purchases on credit cards this year. Though Female respondents indicated that they used their credit cards (31% v 21%) more than males for their holiday purchases. A little over one third of total
respondents (36%) believe that their credit card balances are now higher after this holiday season versus last year.