53% of 18-34-year-olds spend 1-2 hours on researching product before buying online
Responsible for $175 billion in annual consumer spending, college-educated 18-34 year olds have high expectations for online advertising, Experience, Inc. says. This audience is motivated to purchase products or services based on what they see in online advertisements. Because college students spend a significant amount of time online researching products and services before purchasing, when they do purchase, they do it online. 98% of college students have made a purchase of a product or service online.
53% of respondents spend 1-2 hours researching a product or service prior to making a purchase. 27% spend less than 1 hour. 20% spend 3 hours or more. 52% of respondents said they have purchased a product or service based on an online advertisement. 34% find online advertising the most influential means to get them to learn more about a product or service. 41% of respondents said online advertisements will resonate if they are related to the content that they are reading. 34% said a contest or promotion that presents them with some value will motivate them to act on the advertisement. 17% responded that personalization is critical as they will respond to a banner ad that is based on their profile or online behavior.