{"id":1674558,"date":"2018-09-10T07:26:16","date_gmt":"2018-09-10T14:26:16","guid":{"rendered":"https:\/\/www.retailpro.com\/News\/blog\/?p=1674558"},"modified":"2024-09-25T16:45:59","modified_gmt":"2024-09-25T23:45:59","slug":"millennial-shoppers-love-retail-personalization","status":"publish","type":"post","link":"https:\/\/www.retailpro.com\/News\/blog\/index.php\/2018\/09\/10\/millennial-shoppers-love-retail-personalization\/","title":{"rendered":"Millennial Shoppers Love Retail Personalization"},"content":{"rendered":"\n
<\/div>\n\n\n
\n
\"\"<\/figure>\n<\/div>\n\n\n
<\/div>\n\n\n\n

In a day and age in which \u201cautomation\u201d and \u201cself-service\u201d are terms often applied to retail sales, it\u2019s eye opening to learn that millennials seem to prefer an in-person, brick and mortar experience, particularly because this is the first generation that is truly digital.<\/p>\n\n\n\n

These young adults spend $600 billion in the United States, according to Accenture<\/a>.<\/p>\n\n\n\n

It\u2019s therefore worthwhile for retailers to understand this group\u2019s unique characteristics and requirements and tap into what they want from the stores they frequent.<\/p>\n\n\n\n

Personalization tools<\/a> can greatly help retailers connect with the millennial shopper, but retailers need to understand these shoppers\u2019 mindset<\/a>.<\/p>\n\n\n\n

1. Millennials come prepared and want sales associates to add value to their research<\/strong><\/p>\n\n\n\n

First, sales associates must offer value to the transaction.<\/p>\n\n\n\n

While older shoppers may welcome a friendly sales pitch or having the associate function as a sounding board for potential purchases, millennials are looking for experts and answers to questions.<\/p>\n\n\n\n

They\u2019ll often have done their homework online, and having read reviews are coming in-store to \u201ctouch and feel\u201d and discuss features and comparable options.<\/p>\n\n\n\n

It doesn\u2019t hurt if the retailer makes them feel a little special, as well.<\/p>\n\n\n\n

For example, retailers can use intelligent appointment scheduling (IAS) combined with artificial intelligence<\/a> (AI) to recognize a customer\u2019s upcoming birthday and send a celebratory message in advance with coupons, gift suggestions \u2013 or a link to set up a wish list that can be shared with family members.<\/p>\n\n\n\n

2. Millennials are on the go, so catch them when they’re on their iPhone (which is always)<\/strong><\/p>\n\n\n\n

Second, millennials rely on mobile devices to compare prices.<\/p>\n\n\n\n

While many retailers offer in-store promotions, having mobile scanning capabilities rather than printing out coupons is a must for this age group.<\/p>\n\n\n\n

They are also active users of social media and will interact with a brand \u2013 but, once again, it should add real, tangible value to the shopper.<\/p>\n\n\n\n

Accenture found that millennials view social media relationships with retailers as transactional, and a way to get deals.<\/p>\n\n\n\n

Creating positive buzz<\/a>, and becoming a topic of conversation with this group, is hard work.<\/p>\n\n\n\n

3. Millennials expect <\/strong>every experience to be <\/strong>technologically inerrant<\/strong><\/p>\n\n\n\n

Third, millennials want a seamless, integrated experience more than other generations.<\/p>\n\n\n\n

The transition from in-store visit to smartphone and back again must be frictionless.<\/p>\n\n\n\n

In fact, the entire experience must be seamless: From research phase to delivery to possible return\/exchange<\/a>.<\/p>\n\n\n\n

Retailers will need to partner with technology, data, analytics and process specialists to give millennial customers what they want in terms of service.<\/p>\n\n\n\n

For instance, a third-party logistics provider can supply same-day delivery services for online purchases as well as a buy-online, pickup in-store program.<\/p>\n\n\n\n

Scheduling solutions company TimeTrade<\/a> conducted a survey and analyzed census data to conclude that retailers lost $150 billion in potential sales in 2016 by failing to provide shoppers with personalized service.<\/p>\n\n\n\n

Most interesting is that millennials would pay up to 20% more for better, highly personalized retail experiences.<\/p>\n\n\n\n

By investing in personalization, retailers will not only appeal to millennial customers, but they\u2019ll also open the door to others as they become more comfortable with omnichannel retail.<\/p>\n","protected":false},"excerpt":{"rendered":"

In a day and age in which \u201cautomation\u201d and \u201cself-service\u201d are terms often applied to retail sales, it\u2019s eye opening to learn that millennials seem to prefer an in-person, brick and mortar experience, particularly because this is the first generation … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":13,"featured_media":1676113,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[49],"tags":[175,105,77,40,183],"class_list":["post-1674558","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-retail-customer-business-intelligence","tag-ai","tag-customer-experience","tag-millennials","tag-mobile","tag-technology"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t