What You May Not Know About Marketing to Millennials
Millennials are one of the most scrutinized and studied generations in history. Based on our proprietary research (What Matters Most to Millennials at Retail™), we’ve uncovered some unexpected insights into this significant group of shoppers.
Millennials are not compulsive spenders. Contrary to popular opinion, they don’t buy on a whim. They’re actually “strategic shoppers,” with a passion (and talent) for figuring out how to get the best deal. These savvy shoppers see the value in spending $700 for an iPad, but recognizing the limits of their resources. Having come of age in a recessionary period, they will make up for extravagant purchases by shopping for clothes at thrift stores and eating PB&Js for a couple of weeks.
Millennials give good Facebook. When it comes to marketing to this generation via social media, Facebook is the way to go. They live their lives on this social network – and share information about brands and products they love. Don’t focus your online marketing on Twitter; they’re just not there.
Millennials are big readers. And they’re not just reading books. This group tends to check out in-store communications, seeking the latest product and category information at the moment of purchase. These shoppers learn by interacting in the moment.
Millennials value personal connections. Maintaining strong personal connections with family and friends is extremely important to this generation. They are likely to value their parents’ advice – sometimes far more than they would websites and blogs.