A report from American Express Business Insights found that 18- to 34-year-old Americans are spending aggressively on the web, and luxury goods are among their most frequently purchased items. This should come as good news to internet marketers who cater to these blog-hungry shoppers on the web.
According to the study, this generation accounts for 31 percent of all consumer web spending on luxury goods, compared to 23 percent from Generation X, 19 percent from Baby Boomers and 6 percent spent by seniors.
While growth is largest among Baby Boomers, with the amount they spend on the web jumping 28 percent in the last year, the Gen Y demographic has showed strong growth as well with 19 percent.
The younger demographic has been especially astute at finding products and other luxury items for the best price on the web, using search and other channels to find information. Brafton has reported that 79 percent of this age group frequently reads news content on the web, which may be a sign that brands should try blog content marketing centered on the latest developments in their industry. In fact, search-friendly content campaigns can appeal to web shoppers of all ages. According to Empathica Consumer Insights, SEO campaigns and social media marketing can help businesses appeal to web users. More than 67 percent research new products by reading website content, while 45.1 percent said they access third-party reviews.
The tasks people to turn to the web for are continuing to multiply, as Americans spend more time browsing the internet. Brafton recently reported that the average Americans spent 36 hours on the web in January, which represents an all-time high.