Millennials (those born between 1980 and the year 2000, between 17 and 34 years old) make up more than a quarter of the global population, and are estimated to be a demographic with $200 billion in annual buying power by 2017. In Western view of business, this is the perfect group for e-commerce, none other. Could it be true for Ukraine? Let’s check and find out.
- Do not believe advertising. They have access to public opinion over the nets, researches and reviews of any product they seek to buy, and they prefer to make decisions based upon information, received this way.
- Are price-sensitive. Most of them, even in the developed USA, are not rich at all, have started working in times of world crisis of 2007-2008, so they need to seek out not only the best offer (including delivery fees, etc), but to know what they are paying for (which returns us to previous bullet-point).
- Want to influence the sellers and manufacturers. Many give their feedback, how to improve goods and services they’ve bought, so they’d be more desirable. Not to mention, that several buyer’s opinion shifts next one’s to accept or decline offer.
- Save their time and demand instant results. Going to malls and shopping areas with the risk to spend a day to find nothing is dissatisfying. People who are likely to sleep next to their mobile devices are used to quick responses to their requests, and every wish must be ‘googleable’ in several minutes.
What can we say about that: Ukrainian millennials are pretty much the same, especially in times of recession. Still, many good things and services are to be brought into the Web yet, since they are being sold and bought traditional ‘real’ way.