Millennials have been the topic du jour for so long that “du jour” isn’t really applicable any more. Hoping to win over the highly desirable 18-34 shopping demographic, the world has been anxious to understand the newest adult generation. It’s understandable that one might have some Millennial fatigue — even Millennials are sick of the word. There are about 83.1 million reasons to continue on the quest to understand the needs of this group. With an influx of young immigrants, Millennials have now surpassed Baby Boomers in size. They have also (some might say finally!) started flexing their muscles in the auto industry. According to JD Power, Millennials made up the second biggest percentage of sales of last year’s record breaking 17.5-million-unit year.
They’re older, more financially secure and buying cars. Thirty-nine percent say they are likely to buy a car in the next year alone. How do you make sure Millennials are buying from you? We’re kicking off a three week series on how you can better sell to Millennials, but here’s a quick breakdown.
Though Millennials are starting to forge their financial footprint, many are still careful about where they’re spending their money. This was the generation that felt the impact of the recession the most and as a result, are much more cognizant of how they’re investing their hard-earned paychecks. We’ll talk more about what tactics you can use to win over those Millennial dollars in the first of our series: “Think Like a Millennial: Dollars & Sense”.
Cultivate Your Digital Presence
Millennials are no stranger to digital devices. While their parents are trying to figure out what hashtags and Snapchats are, they’re fully immersed in a digital world. But not only are they getting all of their pop culture references from the digital world, they’re also using it to learn about the world around them, including how and what to purchase. In fact, 78 percent say that online reviews influence their purchasing decisions. But we’ll get to that in part two of our series, “Apps Aren’t Food”.
Focus on the Customer Experience
You’re never going to win over a Millennial if you don’t focus on putting them first. While the saying “the customer is always right” still applies, Millennials care much more about the experience they have with a brand or company than just being “right.” More than any other generation, they care about what the value the brand brings, both to them and to their greater communities. More on that in the last blog of our series,“Experience the Experience.”
Despite what you might have read, Millennial shoppers are not the complex puzzle they’ve been made out to be. Join us in the next few weeks as we share more insights.