55% of Millennials Interested in Buying Big-Ticket Items Online

The report “Digital Platforms: How Consumers Shop and Pay for Big-Ticket Purchases,” a PYMNTS and Rightpoint collaboration, found that as the economy continues to improve, as much as 64% of the more than 2,900 consumers queried intend to make big-ticket purchases through the next 12 months, spanning automobiles, home remodeling and real estate.

See also: Digital Platforms: How Consumers Shop and Pay for Big-Ticket Purchases

An increasing number of big-ticket transactions are done online, but there’s still room for growth. In the U.S., PYMNTS found, about one in eight transactions for that class of transactions were done online. We found that interest in digital transactions is especially keen among the younger demographics. Fifty-five percent of millennials who are highly interested in buying big-ticket items on digital platforms and 59% would be highly interested in purchasing real estate via digital platforms.

Online engagement with offline payment is the most common way digital consumers buy big-ticket products and services. But in some cross-pollination, to cite one example, 44% of individuals engaged digitally, but paid offline for autos.

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And in a nod to the ways in which consumers arranged their payments, the share of people who said they’d made digital payments came in at 27%, and 45% said “in person.”