The millennial generation have an enormous impact on the retail sphere. As a result, retailers will have to continue developing strategies that entice millennials into their bricks and mortar stores by creating an all-encompassing experience.
The millennial generation have grown up with mobile technology and as a result they expect to utilise it in every aspect of life. They turn to their hand-held devices to meet all their needs. Millennials are plugged into their devices and generating word-of-mouth recommendations to their peers at the click of a button. Social media has turned millennials into valuable brand advocates making them extremely useful marketing tools.
Social media is used in real time. This means photos are posted showcasing the person’s whereabouts and the purchases they have made. This is fantastic advertising for brands. Millennials don’t turn to social media just to share their experience but to be engaged with as well. Retailers are capitalizing on this emerging trend and appealing to a broader audience.
Millennials are forcing brand marketing strategies to become much more participative in ways such as casually engaging them on Facebook or Twitter. In fact, the entire marketing equation for Millennials has evolved to include participation.
Continued advancements in technology and mobile communication are forever changing how millennials interact with brands. These relationships can be nurtured by retailers to create brand loyalty.
Given the convenience of online shopping, why do millennials still shop in bricks and mortar stores? Well the answer may be simpler than we think. This is particularly true for more personal items such as clothing. Many millennials see shopping as a leisure activity. They like to physically see and touch the products before committing to a purchase.
Millennials seek excellent customer service from stores, they are looking for brands who understand what they like as individuals. Brands that can provide tailored services and be bold enough to make recommendations that meet individual’s specific needs are likely to do well among millennials.
Retailers are expected to provide convenient, user-friendly systems that continue to streamline the in-store shopping experience. For example, improving the payment experience through self-checkout and advanced digital payment allowing consumers to effectively turn their mobile device into a hand-held wallet.
Many retailers have embraced these recent technology applications and continue to find ways to adapt to the millennial shopper. Bricks-and-mortar stores are improving the shopping experience by making products interactive and refreshing store aesthetics. Many restaurants and coffee shops are also having to adapt their operations to meet the demands of the millennial customer. For example, Costa have built on the drive-thru concept that allows for quick, convenient access to their products.
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