The second part in a two-part series on “8th and Walton” expanded on the first edition’s insights into the importance of understanding millennials (the generation born between 1984 and 2002) when it comes to their shopping habits and workplace values. Collective Bias CEO, Bill Sussman, was joined by Fernando Salido from IRI Worldwide and Denise Natishan from Cameron Smith & Associates, to equip viewers with acumens about where and why millennials choose to shop and how to work effectively with them on the job.
Target is the only brick-and-mortar store currently performing well with the millennial demographic, according to the news segment. Millennials value low prices and quality design, which Target has effectively paired in their stores. Bill elaborated on his message that authenticity is also an absolute must when targeting millennials, especially when it comes to promises made by retailers such as Walmart with its “Every Day Low Prices” tagline. Bill warned retailers to “do not try to be something you’re not.” If companies do not deliver on their marketing promises, millennials will hold them accountable.
To find out how the boundaries of work and home life are being blurred by millennials, watch part two of the 8th and Walton segment here. Observations about how authenticity plays into social space interactions can be found in part one.