Millennials; easily the most discussed word in 2016. At home, they manage to fluster the parents, at work they are held responsible of unnerving their mangers, basically challenging everything done so far.
All through 2016 we have heard enough of what makes this generation sluggish & unambitious when it comes to education & career, or their desire to keep living with their parents, or their indulgences especially when it comes to technology. The debate continues into 2017 with the other side too; how the millennials fall prey to bad parenting or soft parenting and how they were given everything on their platter to account for their haughtiness, bringing them to what they are today.
But, all said and done, I simply love this generation! And the fact remains that I am the Gen X, as classified, and a parent to a generation after the millennials, yet to be christened.
I love the millennials; the way they are and how they do their stuff. Missing this cool generation only by half a decade, I might have traces of millennialism in myself too, making me comprehend the situation much better.
I have a few questions which I consistently fail to get answers to.
Million Dollar Questions About the Millennials
- Why being comfortable with technology brands the millennials?
- Why changing & adding to devices every year to have the best, make them haughty spenders?
- Why being self-sufficient by having an app for everything makes them arrogant?
- Why ordering stuff online to get free time to do more important things makes them lazy?
- Why integrating technology with fashion & flaunting it makes them showoffs?
I think it does not. It only makes them cool & cooler. It makes them smarter and that is what is stirring the hornet’s nest at home & at work and everywhere around. This nonchalant generation of people born between the years 1980 & year 2000 find themselves bear the brunt of the blame game.
I blame them too, but as being responsible for some of the major disruptive changes all around us and for pushing the world into adapting the new ways of omnichannel experiences.
Millennials – Disrupting Lives All Around
- Bringing Healthcare to our fingertips
- Making Health & Fitness a part of our daily lives
- Bringing in huge changes in the way we shop
- Getting the banks & other essential services to our phones
- Making digital-wallets a main stream payment method
- Changing the ways, we order food, dine & expect Hospitality to be
- Making work more practical & on the go
- Turning homes into a safe zone with smart homes
- Getting educated & staying connected to institutes in most practical ways
- Mainstreaming practical ways of travelling & exploring
- Introducing newer ways of curating & enjoying music
- Putting in the fun quotient almost everywhere with Gamification
- Making Uberization of everything possible, getting sharing into mainstream economy
To cut a long story short, they are the ones who make technology adapt to their needs. They are the ones who metamorphose the way things are done. They are the ones who make practical, real-life technology come of age.
They are the ones who disrupt the very thinking of a society.
The Millennials Go Shopping
And, when it comes to shopping & retail experiences, they have set the ball rolling for the unimagined changing completely how retail mobile app development was done until now.
- Who says Millennials are lazy & less able? They work smart not hard
- The purchasing power of millennials is estimated to be close to two hundred billion dollars per year.
- Who says Millennials are not sensible buyers? They are more than aware
- Half of the millennials feel feedbacks on enterprise websites influence their purchase decisions
- Who says millennials are not mindful? They are conscious
- More than half of millennials feel that companies should offer more ways to share their opinions online.
And This is How They Are Set to Shop come 2017. In Seattle to Start with.
Retailers Changing the Business Strategy for the Millennials. It Was About Time.
The Millennials or the Gen Y make very alert, unforgiving shoppers. Retailers re-strategizing their policies grab the attention of the Gen Y with contemporary retail apps solutions all through the holiday season and beyond.
- The millennials mashup online and in-store shopping through multiple channels and a variety of devices at their disposal.
- More than half of the millennials are known to have either a smartphone or a smartwatch with them and research their products on the go or even when in-store.
- The Gen Y likes engaging experiences and the retailer who adds to the experience a fun quotient with tactics like gamification is more likely to entice them.
- The Millennials are the most impulsive shoppers and the retailers tapping this trait by making appropriate offers with magical personalized experiences find loyal customers.
- Technology impresses the millennials both in-store and online. Making the most of trending technologies like beacons & in-store touch screens besides the online techniques keeps the millennials glued to the brand.
- Keeping in sync with the offers & sales in store is as important for the millennials as reading the newspaper is for the Gen X.
- Millennials do not give a second thought in sharing locations or reasonable amount of personal information to avail personalized shopping experiences an avail coupons & discounts.
- The purchasing decisions have unique traits for the millennials
- Prices influence the millennials more than the quality of the products
- Word of mouth through social media works the best for this generation
- Exploring social pages of brands is also a very good option for the millennials
Creating a Retail Ecosystem for the Millennials
Savvy retailers create conducive ecosystems for the retail space to engage the millennials. Retail apps solutions going beyond technology & innovation become a natural part of this ecosystem going.
- Tactics to fascinate the millennials
- Beacons and iBeacons for grabbing attention, enticing patrons
- SMS Messages for offers, discounts & awareness
- Social Media engagements
- Contemporary, Seamless Interactions
- In-store conversations with a combination of beacons, phones & watches
- Web interactions through advertisements, pop ups & emails
- Virtual reality & augmented reality based experiences
- Digital signage in the store vicinity
- Payments with Practical & Convenient Methods
- Self service payments at kiosks
- Digital wallets & mobile payments like Apple Pay
- Check outs anytime anywhere
- Vital Technology at Play
- Big Data & Retail Analytics for curating data collected & generating purposeful information
- Wearables & Smartphones for flexibility & ease of use
- Networks & Communication for seamless experiences across POS and web
- Beacons & IoT enabled sensor based techniques to record & automate almost all interactions
In a Nutshell
The millennials disrupt & reshape the retail industry making the most of the handy information they have on their trending devices. This largest living generation today is digitally native and technology savvy. Growing up in a connected world, with virtual ways of living, they throw economies completely out of gear with their expectations from work, lifestyle, shopping, transacting, studying, health, grooming and fashion.
They arrive in their spending years with their completely different attitudes. Rather than criticizing or even sympathizing with their behaviors, the society needs to acknowledge that it is a time to change.
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