Many brands have successfully targeted Millennials by changing their advertising strategy or offering different products and services. But others have not been so lucky... Read More »
What companies need to know—and avoid—when making loyal customers out of Millennials
Millennials’ spending habits are changing the ways entire industries operate. Any retailer wanting to stay current and competitive with this generation needs to take notice. Millennials are an enormous generation, with unparalleled buying power, so winning them over now could mean dramatic growth immediately and in the near future.
Millennials, who delay marriage until later in life, are discovering that they need cash more than traditional home goods.
Millennials, also known as Gen Y, have been known to buck traditions, forcing retailers, employers, and even society as a whole to adjust to their contemporary lifestyles. It should come as no surprise, then, that one of the industries Millennials are having a huge impact on is the wedding industry.
Since Millennials are waiting longer than any other generation before to tie the knot, it’s understandable that their preference for gifts is different, too... Read More »
This generation is buying differently from Gen X and Boomers
The Center for Generational Kinetics’ and our Millennial generation researcher, Jason Dorsey, was recently featured in a MarketWatch article noting the emerging purchasing trends of Millennials (also known as Gen Y). Although there has certainly been an economic shift toward younger people’s renting rather than owning (and there’s almost nothing missing from the list – clothing, shoes, gardens, accessories), three consumer trends demonstrate that the concept of ownership is still alive and well, even among Millennials.
Here are three quick takeaways on Millennials as consumers... Read More »
Unexpected attributes of today’s fastest growing customer group
Millennials, also known as Generation Y, are the fastest growing group of customers in the marketplace today. Along with not carrying cash, this generation brings unexpected customer attributes that marketers and sales professionals need to know to win them now.
Here are three things you probably didn’t know about Millennials, but you should: 1) Millennials are not disloyal customers. Our review of client data across multiple industries and price points shows that Millennials are incredibly loyal customers once they choose to be loyal to a brand, company, or salesperson. The challenge is that Millennials are still “sampling” their purchase options at a later age. In fact, Millennials reach most life events later than previous generations: college graduation, first job, first marriage, and first child. If you hit these life milestones later, the purchasing decisions that follow the... Read More »