The Truth about Millennials
June 13, 2013 by Newsfeed Editor
Over the past 18 to 24 months, there have been numerous studies and surveys done trying to figure out the consumer behavior of Millenial shoppers. It has been a general consensus that these consumers, ages 18-33, flow seamlessly from channel to channel and medium to medium not really differentiating between online and in-store. To the Millennial, it is all part of the shopper experience.
Another recent study gives additional recommendations on how retailers and CPG manufacturers can capture more sales from this group. The study, Six Truths about Millennials to Power Grocery Chain Growth, was developed by BeaconUnited, ArchPoint Consulting and Black Pearl Intelligence.
According to the study, grocers are missing out on these important buyers because other channels have been more successful in establishing direct conversations. In order to keep pace, the grocery industry needs to engage Millennial shoppers on their terms and communications platforms. User, not marketer, generated content influences 80 percent of Millennial purchases. Here are some other findings:
-Retailers need a coherent social media strategy encompassing front-end listening tools and back-end analysis.
- Grocers need to offer a multi-platform approach to engage this audience on their terms.
-Brands are important, but not in every category.
-Appeal to the independence of Millennial shoppers.
-The buying experience is important no matter in-store, online or mobile.
These are just a few of the main point and we encourage you to read and digest this Progressive Grocer story and the study itself. No matter how retailers respond to the challenge, there are definitely strong at-retail merchandising and marketing implications that would allow for the type of experiential synergy that Millennial shoppers seek.