RESEARCH REVIEW ON MILLENNIALS

ACKNOWLEDGMENT

In preparation of my assignment, I had to take the help and guidance of some respected
seniors, who deserve my deepest gratitude. As the completion of this assignment gave me
much pleasure, I would like to show my gratitude. I would also like to expand my gratitude to all
those who have directly and indirectly guided me in writing this assignment.

In addition, a thank you to Madam Ami Suhana, who introduced me to the Methodology of work,
and explained me clearly the structure of the assignments. I also thank my group with whom I
did my research on the millennials and noted down the important points.

Many people, especially my classmates have made valuable comments suggestions on my

paper which gave me an inspiration to improve the quality of the assignment.

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 RESEARCH REVIEW ON MILLENNIALS

TABLE OF CONTENTS

No Topic Page No
1.0 Millennial (Gen Y) Consumer Behavior, Their Shopping Preferences and 3
Perceptual Maps Associated With Brand Loyalty
1.1 Problem statement 3
1.2 Methods 3
1.3 Findings 3
1.4 Recommendation 3

2.0 Who are the millennial shoppers? And what do they really want? 3
2.1 Problem Statements 3
2.2 Methods 3
2.3 Findings 4
2.4 Recommendations 4

3.0 The Influence of Social Networking Sites on Buying Behaviors of Millennials 4

3.1 Problem Statements 4
3.2 Methods 4
3.3 Findings 4
3.4 Recommendations 4

4.0 Appendices 5
4.1 Table of summary 5
4.2 Links to journal articles 6

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1.0 Millennial (Gen Y) Consumer Behavior, Their Shopping Preferences and Perceptual
Maps Associated With Brand Loyalty
1.1 Problem statement
The millennials are the most active user of internet and they are easily consumed by
the advertisement showed on social media which inforce them to buy that product
irrespective of their need and financial position. Since they spend a lot of time on
internet, which shows them the ads again and again by which they cannot hold
themselves and eventually buys it.
1.2 Methods
Sampling: 4000 inventories has been distributed to the customer of 2 company.
Questionnaire: questionnaire was distributed randomly to different companies’
customer to record their expectation, service, ambiance, place etc.
1.3 Finding
The millennials prefers to buy online, spends more money and buy product that are
popular. The millennials are lazy and easily consumed. They spend money on any
product without checking the quality. They prefer to buy product that are popular in
social media and these product are very overly priced, but they are trapped by the
ads which makes it look cool. They don’t care to check the reviews but they check
the ads and popularity of that product.
1.4 Recommendations
It is recommended that online shopping is not safe and could be very expensive.
They should try to go to retailers shop to try and experiencing the product, so they
can be satisfied with the quality.

2.0 Who are the millennial shoppers? And what do they really want?
2.1 Problem statement
The millennials are not loyal to any brand they prefer to buy product that seems
cheaper or popular. They can buy product from any website. They are not a loyal
customer.

2.2 Methods
Survey: a survey was distributed to 2 universities in written form and online
Questionnaire: a questionnaire according to loyalty was distributed to the local
millennials.

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2.3 Findings
According to the survey and questionnaire it has been found that millennials prefer
to buy product that are cheaper. They don’t want to buy product that are expensive.
Even though they are buying cheap product they still prefer to review that product
and research about it online. But sometimes they does not agree with the product
quality. They prefer to have cheaper, popular and high quality product all at one.
2.4 Recommendation
It is recommended that instead of looking for the cheapest product they should look
for good quality with reasonable price. Because there is no point of buying cheap
and low quality 10 products which won’t last 2 weeks, it’s better to have one product
with good quality which lasts for years. They should go for the websites that are
authentic; the reason for their dissatisfactory to product is fake websites.

3.0 The Influence of Social Networking Sites on Buying Behaviors of Millennials

3.1 Problem statement
The millennials don’t have their own product references. They like to follow other.
They don’t have their own likeness, they like product what other like.
3.2 Methods
Survey participant: the students in a university were told to volunteer for a survey,
Survey development: the volunteer students were asked general and social
question about their accounts when they were doing the survey.
3.3 Findings
It has been found that the millennials like to buy product that are referred by a friend
or any family member. They also like to buy product that celebrity wear. They don’t
want to buy a product or take interest but when its recommended by someone they
starts to take interest because they think that if there friends are telling to buy this
product maybe its very good but they don’t think that they don’t need it.
3.4 Recommendation
It is recommended that the millennials should buy product that are suitable and in
need for them. They should not prefer a product liked by other because everyone
has their own preferences. They are just wasting money on product that are liked by
other individuals. It looks more like a slave they should have freedom and fell free to
enjoy their selections.

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4.0 APPENDIX
4.1 Table of summary

TITLE/AUTHOR/YEAR PROBLEM METHODS FINDING RECOMMENDATION

STATEMENT
- Millennial (Gen Y) - Active user of - Sampling - Millennials - Should not always
Consumer Behavior, Their social media - Questionnair prefer to buy believe
Shopping Preferences and more likely e online than advertisement
and Perceptual Maps to believe going to store - Buy product which
Associated With Brand advertisement - Spends more are required not
Loyalty than money that are cool
- Guven Ordun experiencing it - Buy product
- 2015 which are
popular in
social media
- Who are the millennial - Loyalty is lost - Survey - Prefer the - Instead of looking
shoppers? And what do - Research cheapest for the cheapest
they really want? product product they
- Christopher Donnelly and whether its should look for
Renato Scaff online or in good quality with
- 2013 retail shop reasonable price
- Do research
on product
and review it
before buying
- The Influence of Social - Don’t have their - Survey - Millennials - Should buy
Networking Sites on own product participants prefer to buy product suitable
Buying Behaviors of preference - Survey product liked for them
Millennials development by a friend or - Should buy stuff
- Sharon S. Pate, Melinda celebrities which they are in
Adams need
- April 2013

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4.2 Links to journal articles

1. https://www.researchgate.net/publication/298506301_Millennial_Gen_Y_Consumer_Behavior_
Their_Shopping_Preferences_and_Perceptual_Maps_Associated_With_Brand_Loyalty

2. https://www.avanade.com/~/media/asset/point-of-view/who-are-millennial-shoppers.pdf

3. https://digitalcommons.kennesaw.edu/cgi/viewcontent.cgi?article=1020&context=a

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