A Visual Guide to How Millennials Make Purchases
From paper to plastic and beyond, how young consumers make purchases is becoming increagingly digital. However, millenials are still three times more likely to pay using cash compared to the general population (albeit probably with crumpled up bills in their jeans). 36% of millenials favor credit cards but 28% do prefer to pay using a debit card instead meaning that young adults are racking up less debt than previous generations!
A rising star with young tech-savvy consumers, especially those concerned with privacy, is BitCoin which is anonymous, paperless and untraceable. The top sites accepting BitCoin payments right now are OkCupid, The Pirate Bay, Reddit and WordPress. Person-to-person (p2p) services like Popmoney are also becoming more attractive costing less than a buck to use on average.
How do you like to pay for things?