Using data from the ShopSocially platform, the company released an infographic that examined the social sharing of purchases from Generation X and Millennial consumers.
Millennials (sometimes known as Generation Y) are often categorized as people born between 1980 and 2000. Generation X is made up of people born between 1960 and 1980.
Though Millennial males shared their purchases most often, they brought in 52 percent lower referral traffic from their social shares than Millennial females.
Millennial females share an average of 1.17 purchases and get 3.77 referrals per social share. Millennial males share 1.50 of their purchases and lead to 2.47 referrals per social share.
Successfully marketing toward Millennial consumers could potentially be lucrative for companies.
By 2015, Millennials are expected to have $2.45 trillion of purchasing power, according to the study “Millennials Drive Social Commerce: Turning Their Likes, Follows or Pins Into a Sale” by the University of Massachusetts Dartmouth.
Dartmouth’s study lists Facebook as the most popular social platform for interaction between Millennials and companies. Sixty-two percent of the Millennials surveyed liked at least one company on Facebook.
Having a lot of friends on Facebook also factored into higher referral traffic, according to the ShopSocially data. Those with over 900 Facebook connections lead to 3.95 times more traffic than people with under 100 Facebook connections.
Converting the traffic into sales may be easier for businesses that offer a coupon to potential customers who engage with them on social media. The Dartmouth study shows that conversion rates from social media were the highest from respondents who got some sort of discount or special offer.