21 Feb Keeping Up with the Jessicas: How Will Your Brand Engage Millennials?
There are a lot of brands and retailers out there trying to crack the millennial nut, so to speak. They acknowledge Millennials are a big segment of the retail market – representing 30% of total retail sales ($1.4 trillion annually) by 2020 (source: Accenture).
So, what exactly is the best way to reach and engage them?
Information. And experience.
Information and experience are the motivators for millennial shopping. A while back, Accenture surveyed 6,000 consumers in eight countries about their shopping behaviors and segmented millennials for a report. Their findings are highly relevant today.
- Though they are the first “internet generation,” Millennial shopping habits are not as different from Gen Xers and Baby Boomers as you’d think.
- Information drives Millennials’ decision-making. They believe that online and mobile channels provide “the information and insights they need to find the best products and services.”
- Millennials want a “customer-centric shopping experience — one tailored to their wants and needs as valued customers.”
- And nearly 70% state they want an integrated “seamless” experience regardless of channel – physical store, mobile or PC-based shopping.
So how can brands and retailers give millennials what they want?
Accenture promotes the idea of becoming seamless. They said:
“We define seamlessness as the ability to deliver a consistently personalized on-brand experience for each individual customer, at every touchpoint – anytime and anywhere.”
We couldn’t have said it better.
What if a brand manufacturer could supply their online retail channel with up-to-date promotions, product information and interactive content? Sounds hard, but there are some brand manufacturers that are beginning to do this using SYNQY’s technology to deliver cross-channel promotions like these:
It doesn’t have to be hard for brands to manage the content provided to retailers and to deliver it right at the point of sale – that moment of truth when a shopper may need just a bit of engagement to be convinced to make the purchase. Millennials will still want to read the reviews and check out product and retailer ratings, but there’s so much more that brands can do to engage millennials – and others – on product listing pages and in the product pages to ultimately drives purchases.
Accenture comments in the report that retailing is changing faster right now than it has in the last 50 years. How will you keep up?