Does a week go by where an article about Millennials isn’t published? Probably not, but with good reason. Millennials will have the highest spending power of any generation by 2018, according to BazaarVoice. Every brand and retailer wants their piece of the Millennial wallet. Every company wants to understand them in order to foster better workplace environments. Debbie Hauss of RetailTouchpoints set out to answer these questions in her recent article:
Debbie offers relevant tips from industry experts, including Collective Bias.
She cites our survey: “YouTube and blogs win out over Facebook or Twitter when it comes to Millennials’ social commerce activities. More than 36 percent of Millennials find YouTube most influential. And marketers should avoid celebrity endorsements when targeting Millennials: 70 percent prefer non-celebrity marketing.”
According to Marci Zaroff, Founder of Under The Canopy, as many as 60 percent of Millennials would choose one brand over another if it is tied to a charity. More than ever, Millennials care about charities and good causes, and desire to reflect that in the purchases they make. Promoting the causes your brand supports, whether globally-known or within local communities, will go a long way in resonating with these socially-conscious shoppers.
To learn the rest of Debbie’s tips for working with and marketing to Millennials, head over to Retail Touchpoints.