The Millennials: Myths and Realities survey was performed by CBRE, the world's leading real estate services and investment company.
This is one of the largest and most detailed global research projects, in which 13,000 Millennials aged 22 to 29 in 12 countries were interviewed in order to understand their approach to lifestyle, work and leisure time.
Millennials shop in brick-and-mortar stores
The survey showed that, contrary to general expectations, 70% of Millennials prefer shopping in traditional stores compared to online shopping and that this is unlikely to change dramatically in the near future.
Nearly half of the respondents want to get the products immediately and have the opportunity to see, touch, feel, test and try out the products at stores.
Most Millennials make a total of 27% of purchases online. The popularity of online shopping, however, significantly varies depending on the dynamics of retail.
When Millennials shop online, they want their purchases delivered directly to their homes. Two-thirds of respondents prefer home deliveries. Goods delivered to the workplace followed and the possibility to pick up the goods at selected shops was in last place.
It seems that online shopping isn't a direct alternative to shopping in stores, but rather a complement. Retailers, therefore, should offer compelling and unique experiences to motivate Millennials to come back.
Millennials don't live on their own due to financial reasons
Leisure time represents an important part Millenials' lives. Fifty percent of their income covers their meals in restaurants, shopping, and tickets to theaters and live performances.
The survey also showed that this generation of young adults has considerable difficulties in finding affordable housing.
Nearly half (49%) of respondents still live with their parents and 74% say that their salary isn't enough to purchase their own house or flat. Sixty-five percent of respondents said they prefer renting due financial reasons.
Only 12% of Millennials have no plans to leave their parent's houses.
Millennials are glad to have jobs
A total of 64% of Millennials feel lucky to have a job and they want to work only for a limited number of companies during their careers.
The degree of Millennials' company loyalty is, however, assessed as low. Millennial workers would switch to another company if they were offered a good salary, opportunity for further education and development, and the opportunity to work with like-minded people.
Seventy-eight percent of respondents considered the quality of the workplace as a key factor in choosing an employer. Sixty-nine percent of respondents said they would be willing to give up other benefits in exchange for a better working environment.
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