It’s the age of the millennial: What that means for retail

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Great article from Kelsey Lindsey Which I love to share with you!

This author starts a discussion on LinkedIn with the question:

Millennials are predicted to represent 30% of retail sales by 2020. Will retailers have to adapt to this new consumer group in the near future? If so, what type of technology and marketing should a retailer leverage to better reach them?

In my opinion a question which is very hard to answer. But the question triggers me and I answered the following:

Millennials are very social engaged. 62% of the Facebook millennials share their thoughts and experiences on their Facebook page. The key is to attract these millennials to engage with your company and stay in touch with you. Although they are heavy users of Facebook, they are also switching between channels easily. Therefore an omni-channel approach will be the best. 

Ask your customers which channels they mostly use and start following them with specific applications or platforms like Hootsuite, etc. That is the most easy way for retailers because an integrated platform (e.g. integration of CRM, cash register data, social media, website) is far too expensive for the average retailer. Platforms like Magenta seem to be a good and affordable solution.


What is your opinion and please share this opinion on this weblog and/or LinkedIn Group discussion:


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