Monday, 20 March 2017 20:27

Chinese millennials trump US counterparts on use of mobile payment tools for purchases

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Chinese millennials trump US counterparts on use of mobile payment tools for purchases Image courtesy of Stuart Miles at FreeDigitalPhotos.net

Chinese millennials use digital tools to satisfy functional and emotional needs — food, expenditure, socialising — more often than their US counterparts, according to a new report.

The online survey, by global brand consultancy Labbrand, reveals that, among the key indicators, 85.6% of Chinese millennials use mobile payments in physical shops at least once a week, as opposed to 44.7% of US millennials.

Other initial findings of the survey revealed that in terms of socialising, for example, Chinese millennials are highly expressive online, with 71.4% posting answers to questions on Q&A sites or forums at least once a week, while 77.6% post reviews on movies, restaurants, travels or other activities at least once a week.

In contrast, US millennials fell short of reaching 50% (41.8% on posting answers and 44.8% on posting reviews) on both questions and, overall, the majority of Chinese millennials agree that they tend to share everything they do online (55.3%), whereas only 28.3% of American millennials felt the same way.

Labbrand released the initial findings of the survey at the Millennial 20/20 summit in New York and, at the event Denise Sabet, Labbrand's managing director of North America, said the term millennial has been overused, and “the definition has become too broad”.

"Brands need to uncover deeper and more specific insights on millennial consumers, and to tailor their brand actions to the characteristics of more targeted segments," Sabet said.

According to Labbrand, based on the digital drivers model developed by the company, the survey results also indicated that US millennials are driven to digital platforms mainly by the need to seek pleasure, while Chinese millennials tend to be simultaneously driven by the needs of connection, discovery, and actualisation as well as pleasure.


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Peter Dinham

Peter Dinham - retired and is a "volunteer" writer for iTWire. He is a veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).

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