Millennial shoppers are a vital part of the current market. They dominate the retail industry. Their shopping patterns have become a serious challenge for businesses. It is estimated that there are 800 million millennial shoppers in the USA. The report claims that they spend approximately 600 billion in a year and it will surpass 1.4 trillion by 2020. It also indicates that how much your business need to learn about millennial shopping behaviors. So the big question is – How To Bridge Gap Between Brand And Millennial Shoppers with Personalized Customer Engagement?
This recent study by CuponFollow shows some interesting facts about how millennial shoppers are shopping. Here are a few key takeaways:
- 53% millennial still shop through brick and mortar method
- 31% millennial shop online via desktop
- 16% millennial shop online via mobile device
- Gen X is more comfortable with technology than Gen Y
- Millennial gender shopping behavior is different
- Millennial follow brands on social media for great discounts
Challenges faced by the millennial shoppers
Millennial shoppers represent 30% of total retail sales. The major challenge faced by the millennial shoppers is that the loyalty programs offered by companies don’t deliver value. Millennial shoppers demand customer-centric shopping experience. It is not the price but the experience which motivates them to choose your brand. A Recent study by Accenture shows that over 95% of Millennials say they want their brands to contact them actively. Coupons sent via emails or mailed to their homes presently (or in the future) have the most influence on them. Millennial shoppers also complain that they have not benefited from the loyalty programs because there is always a delay in withdrawing the points.
Major challenges faced by brands
The major challenge faced by the majority of brands is that they don’t understand the difference between “Gen X” shoppers and “Gen Z” shopper buying behavior. Gen X shoppers are not very much tech savvy and they don’t shop online very often while Gen Z shoppers are more comfortable with the latest technology. They often shop online.
- Social Media
A research by Retail Assist shows how millennial shop when they do shopping. The millennial shoppers use social media to interact with brands, but brands lacks in connecting with them on social media. A millennial shopper spends 5 hours daily online on chatting with friends and family. Majority of them scroll through social media feeds to check new offers or discounts on different brands.
- Innovative technology
Location service technology is becoming standard functionality on people’s smartphones. A leading Internet search and technology company has already announced it will allow marketers to send out dynamic offers to consumers based on their location via its native mobile wallet solution, and it is expected that leading smartphone manufacturers will follow suit.
Retailers can create contextual awareness of their customer as soon as they step in the store, using Gofindo beacons located inside. The applications installed on the customer’s mobile device will show notifications, and guide them to specific locations.
- Real-time interaction
Brands can only attract millennial shoppers in their store when they can engage with the customer in real-time. The most important thing for the customer is customer-centric service. Most of the time brands fail to deliver the best customer experience to the shopper. Brands must engage with the customer on social media platforms. The customer loves it when you show interest to your valuable customer on social media.
Gofindo: The mobile customer engagement platform for brands to connect with millennial shoppers
Gofindo helps your brand to connect and engage with the millennial customers in real-time. The mobile-based app helps to interact and engage with these customers in a seamless manner. You can send push notifications to the shopper’s mobile app about fresh deals and offers to see them smile. Millennials love to be on social media. Integrate Gofindo app with the popular social media app and engage with them anytime.
It also allows you to create personalized offers based on the millenial customer data such as buying history, amount spent and loyalty towards your brand. You can create and send customized offers to your valuable loyal customer.
There you have it: How To Bridge Gap Between Brand And Millennial Shoppers with Personalized Engagement. If you want to learn more about cutting-edge mobile engagement solutions or want to get one for your business, visit our website at https://www.gofindo.com.
Gofindo mobile engagement platform can help you get all of these mobile marketing benefits and connect with customers on the mobile platform, so don’t hesitate to contact us today if you have any questions.
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