Want to attract more millennial shoppers? Making a few changes to your company and the way you market yourself could help to change this. Here are just some of the consumer attitudes that make millennials different to previous generations.
A greater focus on ethics
Millennial consumers are much more influenced by emotion than by materialism. They like to know that their purchase is having a positive impact on the world. This could include a brand giving proceeds from each purchase to charity or a food product advertising that it doesn’t use pesticides.
Sustainability has a particular impact on millennials’ purchases – in a poll 73% of millennials were willing to pay more for a product that was sustainable. This could include using plastic-free packaging or advertising the fact that your product is bio-friendly.
A lot of millennials care about fair trade and protecting cultures. There’s been a rise in the popularity of indigenous gifts and hand-crafted products – the idea of making a difference to other people’s lives draws in a lot of millennials. Most millennials are similarly willing to pay more for such products.
Proof of credibility
A smile, a smart suit and a strong handshake is not enough to gain the trust of millennial consumers. Many millennials want hard proof of credibility and this often comes in the form of positive online reviews. In fact, a study found that 8 in 10 millennials won’t make a purchase without first reading reviews.
As a result, many businesses are now actively trying to encourage online reviews. This can be done by asking customers to leave a review by email or text after making a purchase. You may also be able to add a feature on your site that allows visitors to leave testimonials.
Millennials make up the bulk of online shoppers. In fact, many buy more online than they do in physical stores. If you own a physical retail store, it could be wise to also have an online store as you could be missing out on this demographic of shoppers.
There are tools nowadays that can allow you to build your own website for free without any coding knowledge (the only thing you will need to pay for is the domain name). Investing some money in SEO and PPC advertising could also be useful for making your website easier to find.
On top of using the web more to make purchases, millennials are rampant smartphone users. More companies are realising that apps aren’t just a gimmick and can actually be a useful tool for encouraging millennial shoppers.
Building an app is becoming more affordable for many small and medium sized companies. This could be anything from a digital loyalty card to a delivery tracker app.
Social media is also an important marketing tool for connecting with millennials. Many companies are attracting new customers through focused Facebook and Twitter ads. Encouraging customers to follow you on social media can meanwhile help to inspire loyalty by constantly keeping them in the loop.
A physical retail ‘experience’
Despite millennials favouring online shopping, physical retail isn’t dead. The attitude towards physical retail is simply changing – millennial shoppers are continuously drawn to shopping ‘experiences’ that cannot be achieved online.
This involves appealing to senses such as smell, taste and touch that cannot be achieved on the internet. There’s been a huge growth in wine stores and chocolatiers that offer tastings, as well as a growth in physical stores that sell scented items such as candles and soaps.
As for appealing to people’s sense of touch, many stores are getting more hands-on and offering workshops. This includes bars offering cocktail workshops and pet stores offering dog training classes (classes can also be a way of gaining extra credibility).