In short, millennials are people born between 1981 and 1996. Apart from the difference in birth years, here are some of the characteristics inherent in this generation.
You already know that the millennial generation has the upper hand when it comes to adopting new technology.
But remember, we cannot equalize that all millennials are tech-savvy and the other generations are clueless. Because everything returns to their personalities.
However, research shows that if there is a new technology, it is likely that the people who tried it or bought it for the first time would be millennials.
This is what makes the millennial market even more tempting. Because they don’t hesitate to try new products.
Routine Activities on Social Media
Research results show that almost 100% of millennials are internet users.
That’s why millennials are easy to find on various digital platforms. For example, such as on social media, blogs, or forums.
So, among the digital platforms used by millennials, the one they frequently visit is social media. That’s why so many businesses have jumped into this platform.
In addition to making businesses more existential, social media can also be a place to study millennial behavior and the trends they are following.
Brands like Unilever and The Goods Dept also admit that they make marketing strategies based on millennial behavior on social media.
Millennials value freedom to choose. That’s the reason why they love personalization. Because they want to get whatever they want.
Never mind shopping matters, personalization matters also have an effect on other things such as. This is reflected in 34% of millennials who have not been able to make a choice because of the lack of candidate pairs (candidate pairs).
That’s why most of the tips on how to reach the millennial market will definitely advise you to implement a personalization strategy.
But is this a good strategy?
Based on research, 70% of millennial (and gen Z) consumers don’t mind paying more to get products that suit their interests.
In fact, 25% of them are willing to submit personal data in order to get a more personal shopping experience.
Of course an opportunity like this is a pity to miss, right? To win the hearts of millennials, you only need to tailor your products and services to their interests.
Interested in the Loyalty Program
To get a more personal shopping experience, millennials like to have a “special relationship” with their brand.
In other words, loyalty also affects millennial buying decisions. That’s why 70% of millennials regularly shop to the same brand.
This opportunity is certainly read by business people. So, they are competing to create loyalty programs, aka programs that invite buyers to become regular customers.
Enjoy Spontaneous Shopping
Do you know? 64% of millennials like to shop spontaneously. This figure is much higher than other generations.
The reason is that they rarely compare product prices. Whether when shopping in person or when shopping online.
As a result, they are less calculating when shopping. Whatever they want can be bought right away.
This characteristic can be an opportunity for businesses that implement cross selling, a strategy in which sellers offer product recommendations to buyers.
When looking at additional product recommendations Technology, millennials may be tempted to make purchases spontaneously.