Campus Bazaar on why Millennials love to buy online
India has around 440 million millennials (34% of the total population), who will spend $330 billion annually, by 2020. That’s more than the total population of the US, and more than the total number of millennials (400 million) that China has today.
Born Digital Natives coupled with rapid growth in digitalization and big spending power, millennials are driving a shift in the consumption basket of the market.
84% of Millennials have a 3G/4G connection as compared to 45% of internet users across India. Also, 47% of Millennials tend to do more of Online Shopping than offline shopping. Millennials are characterized by their regular and frequent usage of internet throughout the shopping journey, mostly on their mobile phones and looking for pocket friendly deals. With high mobility and connectivity, they will redefine the consumer story.
Millennials are more brand conscious as compared to the older generations. They know which brand they particularly enjoy. They place significant emphasis on the value derived from the product or service. And along with being brand conscious, their decision making depends significantly on whether they are getting the appropriate value for the money they’ve spent. Millennials differ from the previous generations. A very personalised or tailor made solution fits their needs. Monthly, a millennial spends 23% of his/her expense on personal Grooming and Discretionary/Lifestyle products
Top Reasons for Millennials to Shop Online
- 63% - Convenience of buying anywhere and at anytime
- 60% - Access to products and brands not available online
- 57% - Able to make frequent purchases
- 56% - Diverse and wide variety
- 53% - High Discounts & Lower Prices
Here is when CAMPUS BAZAAR comes in the picture. Campus Bazaar is an easy to use Group Buying App. Most online shopping brands put their products on sale seasonally and at their own desired rates. Campus Bazaar on the other hand helps Millennials get the best deals from brands that THEY want and not the deals that are pushed on to them. Consumers get the best offers from brands on the basis of demand aggregation.
For example- If multiple users want a particular product from a brand at a rate of below Rs. 1,000, then Campus Bazaar alerts the demand to the brand and the brand then agrees to offer a lucrative deal. We aggregate demand from a large market and bring it to the brand that offers the best deal.
Campus Bazaar specifically targets young millennials i.e. College Students since they are a critical market for Online purchase of many product categories. Campus Bazaar basically plays the agent between the consumer and the brand.
How the App Works
The Campus Bazaar App is very user friendly. It is pretty simple and easy to use. There are just a few steps one needs to follow -
- Download the app
- Fill in your personal details
- An OTP will be sent to your phone
- Fill in product details that you want and at the price that you want
- Then just submit it
- You will then get the best offers from the brand on the basis of aggregation of similar demand from other users
Preferred Categories on the App
- The most preferred categories on the Campus Bazaar App are youth oriented things -
- Electronics - Mobile Phones, Mobile Phone Accessories, Laptops, Computer Peripherals, etc.
- Scientific Calculators
- Lifestyle Products- Clothing, Bags, Shoes, Accessories, etc.
- Entertainment items - Events, Movies, Concerts, Gigs
- Gifting items like - Teddy Bears, Gift Cards, Chocolates, Flowers/Bouquets, Cakes, etc.
- Bikes, Helmets, Bicycles, etc.
And much more.