Millennials are shaping the future of online retail. They have tremendous buying power, yet are doubtful of traditional marketing strategies. This makes them the main challenge when venturing E-commerce.
Clearly, the younger generation is the market to target if you want your online store to succeed. Most retailers would advise following the money, and right now, money is with the millennials.
Along that line, connecting with millennial shoppers gives you access to opportunities full of untapped potential. So in establishing a bond with this elusive audience, a retailer should understand how millennials shop and how to bring them to buy on your website.
To begin, here are E-commerce tips for connecting with millennial shoppers:
Millennials prefer shopping online, so whatever you are selling, the internet is the right place to be. Surveys reveal that 40% of males and 33% of female millennials would buy everything online if they could.
Furthermore, only 50.5% of retailers venture into an online platform. So if you already have one, then you are already in the upper half who have an advantage over millennials.
On the other hand, around 62% to 91% of millennials still prefer buying the following items in brick-and-mortar establishments:
— Medicine ‒ 91%
— Furniture ‒ 81%
— Shoes ‒ 76%
— Jewelry ‒ 62%
— Clothes ‒ 74%
— Home goods ‒ 62%
But even if you sell these items, venturing on E-commerce will still be strategic since it will increase your market reach in addition to a physical store.
Research shows that 30% of millennials use four or more devices, while most of them check their smartphones 34 times daily. Additionally, 40% of mobile users have bought something online. This untapped potential is just what you need to push your E-commerce platform forward.
To effectively convert the statistics into revenue, your website needs to have a fluid and responsive web design. Flexible and scalable images enable your E-commerce page to be opened and browsed in any screen size and platform. Thus, millennials will have no problem looking for a product on-the-go.
Another critical factor that draws a line between desktop and mobile E-commerce shopping is a stable and straightforward checkout process. Millennials are used to shopping with their phones because it is faster and more convenient. Avoid a long list of checkout forms as it will only drive your potential customers away.
The smartest way to get away with a long checkout form is by letting users log in to your mobile app. This way, their information will be stored in personal accounts, so people can check out quickly without filling up a lengthy form every time.
Advertising in the past was focused on traditional marketing channels, such as print, radio, and television. However, millennials consume and generate content across different online channels, making them the most digitally connected generation. So instead of investing in celebrity endorsements and star-studded ads, consider going social.
A cross-platform approach through social media is one way to connect with millennials. Basically, the best strategy is to communicate with them through trusted platforms that they are already active. Furthermore, 66% of them ask for others’ advice when making a purchase decision. In fact, 93% of these purchases are based on product reviews, since they trust recommendations more than the claims of the brand itself.
And what would millennials do if they loved that purchase? They will recommend it and share it online. You can let your customers become brand influencers, and if you can develop a strong relationship with them, you’ll get to share your brand message with their peers. The old word-of-mouth marketing is not dead ‒ in fact, it is as powerful as ever, thanks to the widespread use of social networks.
Millennials, just like other generations, still value and enjoy brands, but they like to be trendsetters and no longer want a logo to define them. To do this, E-commerce retailers have to frequently acknowledge how bearers use the products.
You can establish a symbiotic relationship with millennials by reposting their photos of your products on your page or social media networks. In this way, you validate your millennial purchasers as individuals, and they consequently prove your brand ‒ adding testimony to your claims.
The majority of millennials research before purchasing. And they primarily learn about your products and services through online content marketing. Millennials will follow their preferred brands online for product releases, sales, and discount coupons, that’s why the content that you publish on your channels is essential.
Furthermore, the younger generation demands quality content that looks appealing across multiple platforms, relevant, and reflects your brand well. Your content is vital to them, but millennials want to take control of how they engage as a customer.
Most of the youth also prefer email subscriptions with quick opt-out options and different on-and-off decision making when purchasing.
Millennials are the first to be wide open in communicating brands and content advertisements online. That’s why engaging in a two-way conversation with them reinforces your relationship and helps win their loyalty.
The best place to communicate with young customers is through social networks. Customers and interested people will mention your brand on social media, so make an effort to “like” and “comment” on positive posts. Your engagement with customers will eventually convert them into brand loyalists, and they become peer-to-peer megaphones that endorse your brand online.
Online coupons and loyalty programs are significant considerations for younger customers. Millennial shoppers are always on the lookout for discount tickets and flash sales. So you can take advantage of this opportunity by having exclusive holiday promos or seasonal discounts.
Moreover, 63% of millennials are likely to purchase through different online channels if they’d receive a discount for doing it. Research also shows that a 20% discount coupon is enough to persuade around 50% of respondents in visiting a retail website.
Having your E-commerce page deliver real-time discount notifications to smartphone users will convince around 75% of consumers, particularly the millennials. So grab the opportunity by reinventing your E-commerce platform to connect and convert millennial shoppers.
Millennials have the money and buying power ‒ and you’ve got the product. So it only makes sense to target your market to millennials. The youth are ready to spend money and advocate your brand through powerful platforms if you play by their rules.
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