respect the price sensitivity of millennials There is a view held by many that all markets are price sensitive and becoming more so. It is not at all certain that this is the case, however, static income growth, high unemployment, and the increasing capacity for real time price comparisons using mobile devices are encouraging price […]

respect the price sensitivity of millennials There is a view held by many that all markets are price sensitive and becoming more so. It is not at all certain that this is the case, however, static income growth, high unemployment, and the increasing capacity for real time price comparisons using mobile devices are encouraging price sensitivity. It seems that millennials are very price sensitive. Millennials are people aged 18 – 35. At a time when markets as a whole are becoming less price sensitive, research shows that some 95% report being more price sensitive in 2017 than they were in 2016. Millennials cite price as having a very significant influence on all purchase behaviour. The heightened price sensitivity among millennials appears, in no small way, to be related to their use of smartphones. Consider: • 46% use Amazon, on a smartphone to compare prices • 43% use Google, on a…