Article

5 Ways Retailers Can Reach The Coveted Millennial Generation

How can you reach the coveted Millennial generation? Five facts you can use to target this tech savvy group.

Shoutlet’s Whitepaper: 5 Ways Retailers Can Reach the Coveted Millennial Generation

Millennials – the first truly digital generation – aren’t kids anymore. Ranging in age from 18 to 33, many have settled down with careers, homes, and kids of their own.

Along with these changes comes greater spending power. Accenture estimates millennials spend $600 billion a year.

That’s a figure that has retailers doing a double-take. But, while millennials present a huge market opportunity, they’re also an enigma. As savvy digital users with high expectations of brands and low regard for advertising, this generation requires different tactics from retailers who seek to reach them.

 

Millennials’ Digital Consumption Behaviors:

1 – Seventy-three percent of millennials report that they make purchases directly on their smartphones

Are you surprised? Probably not. But, it is likely that you’re not as prepared for a mobile-first world as you’d like to be. To succeed in 2015, retailers will need to offer a consistent, responsive brand experience across desktop, mobile, and tablets. Omni-channel campaigns with touchpoints across devices will be the next step in engaging a generation that jumps between platforms with ease.

2 – Ninety-eight percent of millennials are more likely to engage with a friend’s post over a brand post

When looking for advice on what to purchase, a brand’s ad isn’t the first place they go. Now, millennials seek opinions from friends, families, or even strangers. Brands will need to bridge the trust gap with engaging, relevant content and a special emphasis on user-generated content.

3 – Eighty-four percent of millennials report that user-generated content has at least some influence on what they buy

UGC – anything from an image collected during a photo contest to a customer product review – is an essential aspect of any content strategy. Allowing millennials to speak for the brand (versus being spoken at) will open up channels of communication and, ultimately, generate trust.

4 – One-third of millennial consumers say they have more fun browsing for items than actually purchasing them

Flipping through products on an app is pretty entertaining, but actually buying them? Not as much. Research shows us that millennials are more into browsing than buying. That puts the onus on retailers to move them down the path to purchase. Strategies such as targeted Facebook advertising and on-site social curation tools can give the push this group needs to close the sale.

5 – Sixty-four percent of millennials say companies should offer more ways to share their opinions online

Since millennials were young, they’ve had access to interactive forms of entertainment and education. They’re used to being heard. That expectation extends to brands. Providing more ways for your fans to express themselves – be it through social contests, user-generated content, or customer care channels – will help you build relationships with this vocal group.

Shoutlet’s Whitepaper: 5 Ways Retailers Can Reach the Coveted Millennial Generation

 

This article first appeared here. 

Please login or register to add a comment.

Contribute Now!

Loving our articles? Do you have an insightful post that you want to shout about? Well, you've come to the right place! We are always looking for fresh Doughnuts to be a part of our community.

Popular Articles

See all
Digital Marketing Vs. Traditional Marketing: Which One Is Better?

Digital Marketing Vs. Traditional Marketing: Which One Is Better?

What's the difference between digital marketing and traditional marketing, and why does it matter? The answers may surprise you.

Julie Cave
Julie Cave 14 July 2016
Read more
Top 10 B2B Platforms to Help your Business Grow Worldwide

Top 10 B2B Platforms to Help your Business Grow Worldwide

Although the trend of a Business to Business portal is not new but the evolution of technology has indeed changed the way they function. Additional digital trading features and branding has taken the place of...

Salman Sharif
Salman Sharif 7 July 2017
Read more
7 reasons why social media marketing is important for your business

7 reasons why social media marketing is important for your business

Social media is quickly becoming one of the most important aspects of digital marketing, which provides incredible benefits that help reach millions of customers worldwide. And if you are not applying this profitable...

Sharron Nelson
Sharron Nelson 6 February 2018
Read more
Collection Of The Best Email Testing Tools Online

Collection Of The Best Email Testing Tools Online

Don’t be afraid of email testing. There are many free or freemium tools online that can help you with testing your SPAM score, deliverability and even the rendering of your email. We feature 30 email testing tools in...

Roland Pokornyik
Roland Pokornyik 31 October 2016
Read more
4 Important Digital Marketing Channels You Should Know About

4 Important Digital Marketing Channels You Should Know About

It goes without saying that a company can't do without digital marketing in today's world.

Digital Doughnut Contributor
Digital Doughnut Contributor 5 November 2014
Read more