Millennials Won’t Make a Big Ticket Purchase Without UGC
Bazaarvoice, in partnership with The Center for Generational Kinetics and Kelton Research, recently released survey findings, which indicate that over 30% of Millenials will not make a big ticket purchase (electronics, cars, hotel stays, insurance policies nor travel arrangements) without UGC. The study also found that Millenials are more likely to be influenced to make a purchase based on UGC by strangers than any other group because of their belief that consumers care more about their opinions than any company does.
Key Statistics Reported by the Study Include:
- 84% of Millenials say that strangers’ UGC impacts their purchase decisions
- 71% believe that companies only care about consumer opinions because it impacts other consumers’ decisions
- 66% believe that companies that include consumer feedback on their websites are honest and 53% view those companies as credible
- 87% believe that companies shouldn’t edit customer feedback at all
How does the survey align with the trends you’ve seen?