Millennials, people born between 1980 and 1999 are an interesting bunch, and also the biggest generation after the Baby Boomers. They are an independent group and retail shop the same way. Knowing their habits and quirks is important to your retail business so you can target your marketing to this young group of people.
Millennials are changing the rules of retail sales and brand marketing. How? By how they shop. Millennials prefer to interact with brands through digital channels and in a very participative way, which makes sense given they grew up with computers and later smart phones everywhere. Old school marketing tactics such as circulars or in-store advertisements aren’t effective with them. Another old school approach, “quality products at a good price” which was an effective marketing component with baby boomers, isn’t with Millennials. So how can you capture their attention effectively?
First way: offer loyalty and reward programs. 77% of Millennials participate in these kinds of programs, and 78% said they’d be more likely to purchase from a brand with a loyalty/rewards program. Millennials are very big with “word-of-mouth” recommendations and use social media extensively. They are great brand advocates if you get their loyalty, on and off line.
Second way: make the entire shopping experience participative, not just the sales. Appeal to the side of Millennials that needs to feel a part of something fashionable and trendy. It’s much easier to forget the shopping experience, especially with retailers feeling pressured to compete with online shopping. After all, online shopping is so much more convenient, shop, click, deliver. Online shopping has made Millennials pickier shoppers, since there are so many more options. So, your ability as a retailer to make Millennials feel completely welcome and at home, cater to them and they will shop with you, convenience aside.
Make Millennials feel part of the process and you will earn their loyalty.
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