Demanding Retail

What Millennial shoppers really want

Location	Industry	Trend Watch
Worldwide	Retail	Insight

Millennials are posed to be the largest generational group of consumers, taking up the majority of the workforce by 2020 - so what do they really want from brands? 

1. Authenticity
With brands actively engaging with consumers on social media, Millennials are demanding more authenticity from these brand interactions. They want to have open conversations with brands that can answer their questions instantly, while expecting the company to conduct ethical practices. Any marketing missteps will be amplified across the web, as people are ready to criticise at the touch of a button. 

2. Price Wars
Competitive pricing has become more important than ever with the ease of accessibility to anet-wide market of similar products. Millennials will often research online for the best deals before committing to the purchase. Particularly in fashion, where young consumers value style over quality, price becomes a factor in decision-making, as they don't expect to wear an item when it falls out of trend.

3. Social Acceptance
There is no point in exhausting the importance of social media, and with that, the influence of community. Social acceptance can now be measured by the number of followers or likes, and is now a huge factor when making purchasing decisions. Marketing efforts will go into introducing a product to consumers, but it is the group mentality of accepting the product that will finalise the sale. If a Millennial's circle of friends actively reject a brand, it is highly unlikely the individual will take an alternative point of view. 

4. See Now, Buy Now, Wear Now
The fashion industry has been feeling their way around the 'See Now, Buy Now' concept for the last few years, with Kate Spade and Tommy Hilfiger adopting this format in their recent shows. Kurt Salmon reports that speed and agility must be top priorities for fashion retailers, as this new mentality demands a fast turn-around, from browsing to buying to delivery. As fast fashion fads appear and recede, only the players who can follow this quickly enough will rise to the top.

5. Convenience and Flexibility
Besides the obvious convenience that ecommerce provides, Millennials are now expecting more flexibility and efficiency from their daily activities. From contactless payments at the coffee shop to concierge services from grocery store deliveries, early adopters of convenient implementations can expect acceptance from young consumers.