Report: millennials least influenced by retail ads
A new report from Euclid about millennials reveals that this generation is the least influenced by retail advertising, according to Marketing Land blogger Greg Sterling. They are also the most likely to use technology throughout their purchasing journey, and their expectations about the experience are very different. Here’s an overview of what dealers can expect from these young shoppers, based on a March 2018 survey of 1,500 U.S. consumers:
- • When considering generational preferences of buying a product online and then picking it up in stores, 47 per cent of millennials were marked as actively doing this, compared to 30 per cent of Generation X and 13 per cent of Baby Boomers.
- • Checkout wait times, inventory availability and simple returns are less important to millennials than other generations: only 34 per cent of millennials said this was a main focus for them, compared to 59 per cent of Boomers and 42 per cent of Gen X consumers.
- • Millennials are generally more social as they enjoy bringing their family and friends to in-store retail environments. They are also more likely to use multiple channels such as social media and email to communicate with a particular brand.
- • This younger generation more easily adopts technologies like virtual assistants, smart speakers and other similar things as part of their shopping tools.
The fact that millennials are more comfortable with technology doesn’t mean they cannot be influenced — it just depends on the service and information provided to them. For example, their interaction with a knowledgeable sales staff member can significantly influence their purchasing decisions. That being said, Boomers and Gen X consumers are more easily influenced by advertising and targeted promotions.