With an appetite to “try before you buy,” Millennials have created a new trend in the ecommerce world, and businesses must keep pace if they are to have any chance of competing for loyalty from this still controversial generation.
For years, millennials have changed the way they do business. Between the new policies of remote work in the pandemic and their propensity to allegedly kill industries, millennials have kept businesses on their toes in recent years. Eventually, a new business trend common to the oft-blamed generation could change the way many think about the way we do business.
We had the opportunity to chat with Donny Ouyang, CEO of BlackCart – a company offering e-commerce businesses a try-before-you-buy option that attracts millions of customers – to discuss the changing trends in the e-commerce industry, the new technologies that are fueling these changes, and the risk involved in confident your customers.
Millennials should try before they buy
While many still view millennials as empowered teens and exuberant 20-plus-year-olds, the reality is that older millennials are now in their 40s and represent significant purchasing power.
In fact, millennials are expected to spend $ 1.4 trillion per year, which means finding out how they like to shop is essential for any ecommerce business.
Luckily, BlackCart and others like it have tapped into a new trend for millennials that has convinced them: allowing them to try before they buy.
“Retailers are reaching out to a new generation of non-committal millennials who have tremendous purchasing power in conjunction with massive uncertainty, and it’s a sea change for almost every category of consumer spending.”
BlackCart has exploited this desire with great success, and more. The company was launched just before the pandemic and has already generated $ 250 million in transactions in the past year.
“Our experience shows that a new generation of online shoppers has tremendous purchasing power, but needs the convenience of trying something, or trying it, first before making a decision to. final purchase. “
BlackCart allows e-commerce businesses to take advantage of the try-before-buy trend by providing a simple plug-in for their websites. Much like subscription sites, it allows those companies to send products to customers before they buy them, then gives them 7 days to figure out which ones they want and return the remaining items.
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