Accurate consumer insights on Millennials will continue to be essential for decades. MFour Client ROTH Capital Partners (ROTH) has taken the challenge seriously, undertaking an in-depth study of 2,500 Millennial men and women in partnership with MFour.
You can check out ROTH’s announcement of its 2018-2019 Millennial Study by clicking here.
The survey encompassed 181 questions and had an average Length of Interview of more than 28 minutes, confirming respondents’ willingness to engage with longer, in-depth surveys if they’re conducted in the mobile-app environment that has become the most natural habitat for today’s consumers.
Among the study’s findings:
- Two thirds of Millennials prefer to research significant purchases online, but 57% still prefer to carry out transactions in-store.
- Virtual Reality shopping has become a fact, with 15% of Millennials saying they have used VR to evaluate furniture, while 16% have used “virtual mirrors” to see how they’ll actually look in cosmetics or clothes they’re considering.
- Nike’s marketing gamble on Colin Kaepernick has paid off with Millennials – 34% said they’re more likely to purchase Nike products following the ad campaign featuring the controversial NFL quarterback, compared to 15% who said the ads made them less likely to purchase Nike goods.
Mobile studies such as the one by ROTH dispel two main myths of market research:
- That Millennials are a generation that’s especially “hard to reach."
- And that mobile surveys are only effective for quick-hit surveys with short, simple questionnaires.
Increasingly, consumer insights professionals are realizing that Millennials are well in reach and can be understood in-depth if you reach out to them in the mobile-app space where they’re most comfortable.