Retail Habits Of The Millennial Consumer
Are you tired of hearing about the trophy millennial consumer? Me too but the reality is that they are the next generation that will potentially be spending for the next twenty years are so worldwide. Anyone who tells you otherwise probably hasn’t cracked open the trade publications. Brands are clamoring for their attention and it’s a fierce competition!
All brands understand that this new consumer defies so much of what the traditional consumer looked like. Therefore in order to market to this group it will take innovative strategies partnered with unique brand storytelling. At this point you might be asking what does it takes to grab the millennial consumers’ attention?
Here’s the 5 major habits of millennials before they buy:
The first thing millennials will do is, seek out what other users say about your brand. It’s a safe way to manage expectations. They want to know what kind of value a product or what kind of horror stories others have experienced. Sometimes a few bad reviews will not ruin the possibility of purchase.
Millennials are all about change, they are the disruptors of this generation. Any brand that has a social cause that it aligns with is just another reason to stand behind it. A really great example of this is the Tom’s brand, with every shoe purchase Toms will help a person in need.
If an experience with your brand both online and offline is positive and easy the millennial customer will have no problem being loyal to your brand.
Social Media Engagements
Social Media is the go to source to capture the full picture of a brand experience. Millennials will look at a potential brand’s Instagram, Snapchat, Twitter, and/or Facebook before they try new products. Celebrity endorsements are a plus!
Price is another component that is important to this generation. Their go to platform for price comparisons are Amazon, Alibaba, and Google.
Before you push out a campaign big or small, online or in-store, take into consideration that Millennials are savvy, resourceful, disruptors and are willing to spend the money with a brand that creates an experience that is over the top without breaking the bank.