There are five distinct millennial consumers, and each poses a challenge to today’s retailer, according to Cue Connect’s report, «Consumer Moments of Truth.» Shopper types include, the social shopper, bargain hunter, elite shopper, impulse buyer and the frugal franny.
«Retailers who want to win big are going to be forced to approach their brand from a place of empathy. Tying the consumer experience to emotion is to millennials what direct mail was to baby boomers. Millennials have to feel understood and are insatiable when it comes to immediacy for more personalized touchpoints and better service,» said Berkley Bowen, CEO and founder, Cue Connect. «This research tells us that ‘surprise and delight’ is imperative. These insights will help retailers better understand, and therefore engage with, their most important — and arguably, smartest — shoppers today: millennials.»
Here’s some insight on each of the five:
- Social Shopper:Would Jump off the Bridge If Their Friends Did
Nearly 50 percent of consumers are either somewhat or very much influenced by friends and family when making a purchasing decision.
- The Bargain Hunter: The Krazy Coupon Lady of E-commerce
7.4 percent of respondents are more likely to buy from a retailer’s site when the retailer emails a discount code.
- Elite Shopper:Prefers Things Handed to them on a Silver Spoon
47.6 percent claimed tat they feel most valued by retailers who reward them with loyalty points.
- Impulse Buyer:Has a Hard Time Resisting Shiny Objects
Almost 50 percent of respondents have made a purchase based on the “suggested items” option on a retailer’s site.
- Frugal Fannie: Would Rather Break an Arm than Shop
37.2 percent of respondents claimed they’re motivated to shop only when they absolutely need something.
Source: Retail Customer Experience
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