Did you know that 85.9% of Millennials make online purchases?
That's how many millennials shop online!
And if you're still neglecting millennials in your demographics, you're losing a big chunk of sales!
You might not want to market to millennials because you don't know how powerful they are... YET.
But today, you'll learn the purchasing behavior of millennials.
And that's not even the best part yet... because you will also find out how you can win them over!
So, let's get this show down the road!
The Millennials And Their Online Shopping Habits
Millennials are the largest living generation. You may not believe this, but there are 72.1 million millennials in the United States.
They have an annual purchasing power of $200 billion. I mean, not that surprising because millennials are tech-savvy. So, it makes so much sense if they are digital shoppers as well.
Not only that, but millennials are also the largest generation in the U.S labor force! That's why they hold a massive purchasing power... and why more brands are leaning on marketing towards the millennial demographic.
Since millennials are more "evolved" than the previous generations, they are disrupting the retail patterns as well. They are influencing the future of shopping.
Let's deep dive.
How Are Millennials Changing Retail Patterns?
1. Brands Are Investing In Technology
As I mentioned above, millennials are tech-savvy. They were born during the years where technology was booming.
And that's why more brick-and-mortar stores are investing in technology. This includes creating ecommerce stores, websites, social media platforms, customer service systems, etc.
Why? Because millennials are all for flexibility and trouble-free shopping experience.
So, if your ecommerce store isn't improving its technology... don't expect millennials to patronize your brand.
Another reason why millennials are the future of ecommerce is...
2. Millennials Push For Brand Transparency
Did you know that 84% of millennials would be more loyal to transparent brands?
And this is how millennials are shaping ecommerce retail. They encourage brands to practice transparency in their operations.
Gone are the days where consumers only care about how pretty the products are.
But wait... what is brand transparency?
It's about authenticity and honesty. And as I said, millennials are more "evolved," and they have different perspectives as compared to previous generations.
This is why they want to see the brand values, advocacy, and how brands are contributing to making the world a better place! This includes knowing your diversity and labor practices.
The following reason why millennials are shaping the future of ecommerce is...
3. Millennials Value Customer Experience
Beautiful website over functionality? No way!
Millennials and online shopping are a perfect pair... but a troubling customer experience can break them up. So a smooth customer experience is a must!
They want a seamless customer experience in any aspect. And if you're not giving it to them, be ready to lose sales.
Nowadays, they expect instant communication with you if they have concerns. And that means you have to constantly improve how your ecommerce store functions while they're shopping.
Now you know the reasons why they're the future of ecommerce, you're probably wondering... why are they important?
Why Brands Should Market To Millennials?
1. Millennials Are More Likely To Be Brand Loyals
And brand loyalty is essential to your ecommerce store because it drives you more sales. If a customer is loyal to your brand, you wouldn't have to exert too much effort in persuading them to buy. You just have to take care of them so you can increase your customer retention.
So, if you target millennials and give them the best experience on your online store... expect them to come back.
Another great reason why millennials are the future of ecommerce is...
2. Millennials Are Tech-Savvy
I mentioned this earlier, but this makes them great to market to.
They are tech-savvy as compared to older generations. So, they wouldn't have a hard time grasping how your ecommerce store works (unless the functionality is bad).
Of course, it's almost 2022... you can do almost everything online. And it's easier to sell to people who know the ins and outs of online shopping.
3. Millennials Spend Time Online
How many millennials shop online? Well, they make 60% of their purchases online. It's a lot, isn't it?
But did you also know that millennials in the U.S spend at least 211 minutes on the internet using their smartphones?
Yep, they're always online. Probably always on the lookout for new goods to try. And that is what makes them a valuable target market.
And it simply means... your ecommerce store has higher chances of reaching more people?
This, by the way, leads us to our next topic...
6 Ways To Win The Heart Of Millennials
1. Connect With Them On Social Media
Social media marketing helps you connect to anyone on any platform. That's why if you want to connect with millennials, this is a great way to start.
Millennials are not just the future of ecommerce, but they're also keen on using social media. As I mentioned above, they spend several hours on the internet and apps every day. It's best to utilize this and increase your reach.
So, how can you market to them using social media?
- Use the right platform. There are different platforms for different people. For example, if you're targeting millennials, don't expect them to be on Gen Z-driven platforms... like TikTok. This is important to note if you want to find where they are.
- Create the right content. Since you're talking to millennials, make sure you are speaking the right language. Don't post content they wouldn't understand. Remember, "if you're talking to everyone, you're talking to no one." No one will receive your message.
- Try posting ads. To reach a wider audience, you can try boosting your posts or posting ads on social media! You can start learning Facebook advertising to help you maximize your products' potential.
Such great ways to start, right? Now, let's look at the next one...
2. Enhance Your Brand Transparency
Brand transparency is part of the future of ecommerce. And because of the political and cultural discussion surrounding today's society... More customers demand it from brands, not just millennials.
Here are some ways to manifest brand transparency.
- Show them your process. This assures your customers that you have an ethical approach and you're not doing something that harms the environment.
- Be honest when you make mistakes. If your customers leave you negative reviews, be open about them. Don't delete them because your customers will feel neglected.
- Avoid performative activism. Millennials can easily spot if your brand is authentic or you just join the conversation for the sake of it.
Ready to enhance your brand transparency? Let's talk about our next tip...
3. Gather Reviews
Do you know what comes in between millennials and online shopping? Reviews.
Yep. Just like other customers, millennials read reviews before making an online purchase. They love online shopping, but you have to win the first by having good reviews.
They are "informed buyers," and they want to know every product detail and the actual product reviews.
And here's how you can showcase yours.
- Add the Reviews section to your website. If you're using an efficient Shopify theme, you can add the Reviews section per product page. Or on your home page. It's up to you, but make sure that your customers see them while shopping.
- Encourage your customers to leave reviews. Customers trust other customers more than you. It's okay to ask for reviews or give them rewards for leaving some.
- Utilize user-generated content. If your products are so good, your customers will be the ones making content for you on their platforms. And if they're hyping your products up, expect new customers to come to you!
My next tip is another future of ecommerce...
4. Optimize For Mobile
Mobile-responsive websites are the future of ecommerce.
I mean, did you know that 90% of internet users use mobile? You're up to no good if you don't optimize your ecommerce store for your mobile users. Say bye-bye to potential sales!
That's why here are some tips on how you can optimize your website for mobile users.
- Choose a mobile-responsive theme. Want to make your life easier? This is the answer! You wouldn't have to manually make your website mobile-friendly... because there's a theme that will do the job for you.
- Reduce popups. Popups are great, but too much can slow down your website... especially if they're using mobile because the screen is smaller! You will give them trouble in closing your popups, so better not to use them on your mobile or reduce them.
5. Utilize Rewards
If you want millennials and online shopping to go together... utilize rewards!
There are millennials with families already or living independently. And some of them would want to acquire promos, rewards, or any discounts available.
So, if you're going to win their hearts, utilize possible bonuses that will entice them to check out their carts.
Here are some ways.
- Add loyalty or referral programs. If they purchase from your ecommerce store, you can give them discounts if they refer you to a friend. Boom! Customer retention and acquisition in one!
- Offer discounts. Who doesn't love deals, rights? This is one way to encourage them to buy from your online store.
Now, our last tip is...
6. Provide Excellent Customer Service
What did I tell you? Millennials value customer experience. And you can give them a great one by providing excellent customer service.
Let's take a look at some ways on how you can do this.
- Chatbot integration. If you integrate your Facebook page's messenger on your website, your customers can easily reach you if they have concerns! No need to wait for a long response time.
- Use email marketing. Provide your customers with options. If they don't want to use your chatbots, make sure they contact you in other ways... like emails.
Ready to market to millennials?
Adapt To The Future Of Ecommerce!
Millennials are evolving... but so are ecommerce.
Trends and people are constantly changing. Every. Single. Day. And you need to adapt to changes, or else... you can't move forward.
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