Marketing to Millennials
Smart retailers are using design and technology to attract and influence the newest generation of buyers.
Retail store presentation is radically evolving. The traditional planning of store designs to appeal to the now-retiring Baby Boomers has given way to the influx of new buyers: Millennials. These customers, who have become the dominant force in retail, see, think, behave and buy differently than previous generations. Accordingly, owners and managers have to plan their stores, merchandise displays and, most importantly, interact with customers in new ways if they expect to grow their business.
While marketing to Millennials includes technology outreach such as cell phones and social media, experiential marketing inside stores is also important. While providing shoppers with an environment that is sophisticated, attractive and friendly, presentation and attention to detail are critical.
Millennials have become a dominant buying force. A 2014 study by Accenture described them as “a trillion-dollar demographic” that has transformed shopping. Accenture’s study put the number of Millennials in the United States at 80 million and estimated their annual domestic spending at $600 billion. “If retailers want to give Millennials the seamless experience they have come to expect, they must radically change the way they operate,” […]