A recently-released study from Radius Global Marketing Research identifies some key similarities and differences in shopping habits, preferences, and influences among Millennials (18-32) and Baby Boomers (49-67). One of the key differences pertains the top sources of information that influence purchase decisions. Millennials appear to be more influenced by word-of-mouth than Baby Boomers, while the latter are more reliant on advertising than the younger generation.
The survey asked respondents which sources of information are influential to them across 4 product categories – apparel, packaged goods, financial products, and big-ticket purchases (such as travel and electronics). Word-of-mouth emerged as the leading purchase influencer (top-2 box score) in each category among Millennials, with search engines also among the top 3 for each category. Read the rest at MarketingCharts.