Millennial Shoppers Expect Quality, Convenience

The Millennial generation — usually described as those born between the early 1980s and the year 2000 — is steadily becoming a significant share of the consumer population.

While financially dependent teenagers are included in the demographic group, the bulk of the generation includes young adults in their 20s and 30s.

About 80 million strong, statistics from different sources vary on an estimate of Millennials’ spending power. However, they all agree it’s hundreds of billions of dollars per year.

According to research from Accenture Retail, a global industry information source, Millennials will reach their peak economic influence in 2020, when their spending will grow to $1.4 trillion annually and represent 30 percent of total retail sales.

Meanwhile, retailers are grappling with the most effective marketing and sales techniques for appealing to Millennials, whom many market researchers have deemed an enigma.

As Millennials start having children, they make up a large part of the clientele at Terra Tots Natural Parenting store, owner Jennifer Creel said.

And she’s noticed a few traits that are unique to the younger crowd.

Quality and exclusivity are key, and Millennials don’t mind doing a little digging.

“Millennials are huge information gatherers,” Creel said. “They’ve usually done an immense amount of research on products before purchasing them, especially if it’s something for their children or their baby.”

Terra Tots offers support on how to use the products and also on a myriad of other parenting issues.

According to Accenture, Millennials expect a customer-centric shopping experience — one tailored to their wants and needs as valued customers.

Many seek personalized, targeted promotions and discounts. In fact, 95 percent of Millennials surveyed by Accenture say they want their brands to court them actively, and coupons sent via email or mailed to their homes have the most influence on them.

In addition to wanting an exclusive, personalized experience, Creel said Millennials are deal hunters. “They want the best product for the best price,” she said. Shoppers often have compared costs and checked product and retailer reviews before entering a store. 

“They are extremely Web and social media savvy,” Creel said. “Social media is our best advertisement source.”

Social media outlets Facebook, Instagram and Twitter have become standard devices for retailers and brands to reach customers.

Selina Aguirre, co-owner of toy, gift and children’s clothing store Rollie Pollie in Bentonville, said, “Even my friends who do not have kids will share our products on social media. They might send a link to it to somebody they think would like it or tag somebody in a comment. It’s just such a quick interaction.”

And that, too, is something Millennials are looking for: convenience. Aguirre is mindful of making the shopping experience seamless and convenient if she wants to appeal to young shoppers.

“We ran out of these Ezy Rollers [riding toys], over the weekend, and a lot of people gave me their phone numbers,” Aguirre said. “I asked if they wanted me to call them, and they said, ‘No, just text me.’”