Among millennials, there’s a growing sense that social media is bad for their mental health.
In fact, more than half of this coveted demographic report decreased their social-media usage over the last year, according to a new study conducted by MFour Mobile Research on behalf of Roth Capital Partners.
By contrast, digital privacy doesn’t appear to be top of mind among a majority of millennials, according to the survey of some 2,500 women and men, ages 22-to-37.
Just 26% of the sample said they were not comfortable sharing personal information for a more “tailored” digital experience -- like getting personalized recommendations from Amazon, Netflix and Spotify.
In many respects, millennials still live up to their reputations as tech-driven, authenticity-obsessed consumers, according to Paul Zaffaroni, managing director-head of consumer investment banking at Roth Capital.
“Millennials value authenticity, transparency and the ability to access their favorite brands seamlessly across multiple channels,” Zaffaroni notes in the new report.
Brands currently connecting with millennials include Nike, Adidas, Vans, Clif, Kind and Nature Valley.
As for shopping, millennials significantly favor Amazon over other online apparel sites, and 62% are already Amazon Prime members.
For more serious purchases, two-thirds of millennials will conduct research online, while 57% prefer to transact in-store.
Millennials are also benefiting from low unemployment, while 77% think the economy will be the same or better next year.
As for other gadgets at their disposal, more than one-third of millennials already have an Amazon Echo, Google Home, or similar product, yet only 24% of those use them to regularly make purchases.