Millennials are increasingly going digital

A majority of Millennials would choose their phone over their wallets if forced to leave one or the other at home. That’s according to a new survey by LivePerson among 18 to 34-year-olds across the US, UK, France, Germany, Japan and Australia.

The poll revealed that Generation Z and Millennials have clear preferences when it comes to digital devices and options. Interestingly, answers do still vary widely by country.

It seems that Millennials just cannot live without their phones. Indeed, 43.2% of respondents said they would have to be paid $5 million to give up their phone forever. Just 15.4% would give up their devices for $10,000.

Globally, there is a clear trend toward increased digital communication with 65% of respondents communicating more digitally than in person. This is particularly evident in the US and UK, but less so in Germany.

This is also evident when consumers were asked whether they would rather keep a phone app versus a messaging app. A clear majority (69.4%) would rather keep a messaging app compared to another app on their devices.

Younger audiences are also much more impatient when it comes to finding answers online. For a purchase of under $20, 73.4% of Millennials would abandon a brand within 10 minutes if they cannot find the answer they need. Just 14.6% would search for more than 15 minutes.

Interestingly, only US and Australian respondents are more interested in keeping social apps such as Facebook or Instagram if they had to choose between them or practical apps such as banking or taxi apps. The remaining regions consider practical apps to be more or equally important.

In addition, the survey revealed that automation has become a more important part of daily lifestyles among younger audiences. A majority of Millennials prefer to automate reservations or check-ins for flights. However, taking an order at a restaurant or mailing a package are still preferable in person.

Across all countries, respondents trust a person giving an answer more than a chatbot. That’s hardly surprising, but it is a good indication of just how much customer service still matters.

However, despite the preference to talk to a person, all countries apart from Japan would call a helpline last, after first searching for the answer on an app or website, live messaging chat or social media channel.

Here’s the good news for advertisers, young consumers are open to getting offers through text messaging. Indeed, 25.1% of consumers are happy to get a brand offer that way. But 39.5% still require the offer to be relevant to them. 35.4% of respondents said they wanted to receive offers, and that figure is much higher in the US compared to Germany.

Another important takeaway for retailers is that 69.5% of respondents can imagine a future where 100% of their purchases are made digitally. However, for now, people still prefer to be given the option to speak to a real sales agent.