If you’re interested in offering incentives to your Millennial shoppers and clients, then you need to start thinking like a Millennial.
Each year, approximately $600 billion is spent by millennials in the United States, but millennials aren’t as predictable as everyone seems to think they are. Brands need to think the way a millennial consumer thinks. They need to get to know the shopping habits and preferences of today’s young shoppers, and must cater to millennials to attract their business.
So, how do brands go about doing this? First, they need to learn about the shopping habits of millennials and figure out the best way to reach them. If they don’t, they’ll risk losing the business of some of the most influential shoppers of today!
What We’ll Discuss in this Article
Throughout this article, we’ll talk about some of the main shopping habits of millennials and what a brand can do to reach them more efficiently. For example, we’ll talk about the significance of the following in the life of a millennial:
- Social media
- Amazon and Google
- High-value rebates
- Online buying
- Gift cards
- Loyalty programs
Now, let’s get started!
If brands don’t have an online presence and if they don’t cater to smartphone users, then they risk missing out on the business of today’s youngest shoppers. In fact, the ability to use smartphones is often seen as a nice consumer incentive that customers love, especially millennials. If millennials (and most of today’s shoppers) can complete their purchase online using their smartphones, they’ll be very happy customers.
Like smartphones, millennials love social media. They enjoy being connected to the world through social media, and many of them get their news, product information, and coupons or deals through social media as well. If brands have a strong social media plan and actively share their deals and content via social media, millennials will be more likely to notice them.
Since millennials are almost always connected to the internet through their smartphones or social media, they know how to compare prices and find good deals. So, it makes total sense that millennials would care more about the price of an item above anything else. Most millennial shoppers feel that price is more important than brand, quality, and product availability.
Amazon and Google
Surely you notice a trend among millennials and the importance of online shopping. Millennials love using Google and Amazon to compare prices and look for the best deals, so brands need to compete with Amazon and Google as much as possible to attract the attention of millennial consumers.
For example, think of how Amazon offers the consumer incentive of free shipping to Amazon Prime members. And now they even offer other great incentives such as free eBooks and movies!
If you thought that rebates weren’t valued anymore, think again. It turns out that millennials love rebates (specifically rebates of high-value). Millennials especially enjoy receiving rebates for entertainment items, sporting goods, electronics, wireless plans, and groceries.
Millennials view the ability to purchase a product online with free in-store pick-up as a major consumer incentive. Brands can use this method to their advantage this holiday shopping season. Millennials love being able to save money while comparing prices and ordering products online, without having to pay additional shipping fees.
Millennials feel that gift cards are one of the safest forms of online payment. When you offer them any sort of gift card solution, you’re helping them to feel more comfortable and secure in their online shopping experience.
If you’re looking to earn the trust of millennial shoppers this holiday shopping season, a gift card solution may be the perfect incentive to offer your clients. Whether you offer a gift card to your customers who spend over a certain amount of money, or you give away gift cards to all your customers, gift cards are a great way to earn the trust of your clients.
While it’s true that millennials do prefer to jump around from brand to brand to find the best deals, they also embrace loyalty programs. Companies who put together effective loyalty programs and offer consumer incentives will stay relevant in the eyes of the youngest shoppers of today.
There you have it! Millennials love saving money and scoring exciting freebies, and Mpell Promotions can help you to satisfy the needs of the most powerful consumers of today. Contact us today to learn more about our services!