Millennials most likely to shop for fashion cross-border
Millennial consumers are the most likely to shop for fashion cross-border as the pandemic era ushers in a new generation of international online shoppers.
According to research carried out by ESW, the global DTC shopping experts, and featured in our exclusive report – Generation Global: the emergence of a new consumer who is ready to shop without borders – reveals that 37% of Millennials had made 11 or more international purchases online in the past year.
The research is based on a study of 14,000 consumers across 14 different countries and has been designed to help brands and retailers identify global growth opportunities for their online businesses.
Across all markets around a third to a half of Millennials said they shopped for fashion from international websites but the power consumers are based in the UAE and China with 65% and 72% respectively of consumers saying did so.
Luxury, in particular is a popular category for international online purchasing, with both Gen Z and Millennial consumers buying luxury cross-border at three times the rate of Baby Boomers (22% versus 8%). They are also far more willing to buy clothing in general, as well as health and beauty products.
When it comes to how they prefer to shop cross-border, marketplaces are a key consideration for brands and by far the most popular choice for all generations with over two thirds of consumers across the boards favouring them. Direct single brand and direct multi-brand stores are the next most popular choice.
This extensive report also highlights preferred payment solutions and social media channels per generation to help retailers understand the services and marketing channels that will attract international consumers, with the results revealing that the more engaged on social media a consumer is, the more likely they will spend cross-border and the more frequently they will do so.
In addition the report highlights the concerns (from lack of trust to sustainability issues) that might dissuade consumers from shopping cross-border to further help retailers hone their strategies to take advantage of this fast growing, new opportunity.
Generation Global: the emergence of a new consumer who is ready to shop without borders is FREE to download. Click here to access your copy.