For retail owners that are looking in increase in-store sales, marketing to millennial customers is a great strategy.
There are currently over 80 million millennials, which means their size exceeds baby boomers. And according to Forbes, millennials currently have over $200 billion (£143 billion) in buying power.
The good news for retailers is that most millennials enjoy shopping at brick-and-mortar stores. One study found that 71% of millennials will visit several stores to find a good deal, compared to only 57% of baby boomers.
Millennials currently have over $200 billion (£143 billion) in buying power. And 71% will visit several stores to find a good deal.
But marketing to millennials can be tricky because they are suspicious of traditional advertising. How do you sell to the generation that hates being sold to?
Attracting millennials will definitely require some creative effort on your part but it can be done. Here are four ways you can millennial customers through your door:
1. Make it social
Most millennials use some type of ad blocker and they receive the majority of their news from social media. So if you aren’t active on several social media channels, you may be losing out on many potential millennial customers.
But it’s not enough to just create a Facebook account and then let it sit there. Interact with your customers and make it fun! Try hosting contests, giveaways, and regularly engaging with followers throughout the week.
And using branded hashtags will make it easier to allow your millennial customers to promote your retail store themselves.
2. Go mobile
Did you know that 1 in 5 millennials only access the internet through mobile devices? This means your website needs to be mobile-optimised or you may be turning millennial customers away.
And it’s important that you provide a seamless online and offline shopping experience. That means a customer should see the same price tag in your store as they would on your website.
3. Be strategic about pricing
Most millennials are very price-conscious and will shop around until they find the best deal. And smartphones may it easy to quickly shop for a lower price – even when they are standing right inside your store.
But how do you price compete with online giants like Amazon? This is not only challenging but if done incorrectly, it can put your store at risk for changing how you are perceived by your customers.
One strategy is to look for value add-ons. For instance, being hyper-focused on providing outstanding customer service. Or offering things like discounts for in-store pickups.
One strategy is to look for value add-ons. For instance, being hyper-focused on providing outstanding customer service.
4. Create an experience they will remember
Millennials are known for preferring experiences above all else. So the atmosphere you create in your store can have a big impact on their shopping experience and perceived brand value.
Carefully consider the decor, furniture, and lighting in your store. All of these things can create a unique ambiance your millennial customers will remember.
The music you choose will also have a big effect on the experience your customers have and can even change their shopping habits.
If you are struggling to come up with a decent music selection, Ambie can help. We offer curated playlists that are geared toward your brand and customer base. Contact us to learn more and get your free sampler.