Since millennials have officially surpassed baby boomers as the largest population segment in the U.S., they have become the new battleground. Retailers are rightly turning their attention — and their mCommerce marketing efforts — to this group who, smartphones in hand, are tech savvy, highly connected and ready to spend.
According to iVend Retail’s 2016-2017 Great Omnichannel Expectations Shopper Survey Report, 71 percent of those surveyed in U.S. and Canada find shopping online more convenient than brick and mortar. This is especially true for busy millennials who take advantage of the facts that online stores never close and can carry more inventory and offer more product options than a physical store.
mCommerce Can’t Be IgnoredWinning millennials takes a holistic approach, but one of the most important aspects of your strategy should be mCommerce. Do everything possible to make sure the shopping experience is smooth across platforms and that your mobile-to-online-to-store process is seamless in the eyes of your millennial shoppers.
Download Mobile POS Buyer’s Guide: How to Use Mobility to Bridge the Omnichannel Gap to learn how to improve in-store shopping experiences.
The fact is millennials are shopping around. True loyalty in 2017 is rare. Millennials are virtually shopping on their mobile phones while shopping in your physical stores. They often have the upper hand with unlimited access to information and the ability to instantly compare prices.
The trick is to be the one providing the information and make it look great. Millennials must be able to reach your mCommerce site and have a mobile experience that meets their expectations. Your website should be responsive so it’s easy to use regardless of the mobile device your millennial shopper is using. It should also be designed so it’s easy to navigate and checkout with minimal clicks.
Reaching “What’s In It for Me” Millennials
Television ads were long the go-to for major retailers but millennials often stream shows and movies and are no longer exposed to the traditional 3-minute commercial break. So how do you reach them today?
Digital offers are fast becoming a favorite touchpoint for retailers. Leveraging targeted offers based on your audience segmentations is a fantastic use of data resources and can often be the tipping point in the buying process.
There is a science behind this. A new report from McKinsey & Company “The new battleground for marketing led-growth” explains that, in the past, consumers followed a linear decision making process when making a purchase. It started with brand awareness and ended with a purchase and ultimately loyalty to your brand. Since the buyer already decided on the purchase at the onset of the process, competitors had little chance of interrupting a sale.
The new model is a circular path that includes a “consideration” and an “evaluation” stage. While consumers start by considering a few select brands, when they get to the evaluation stage, they are apt to add more options for places to buy.
The good news for retailers with a comprehensive mCommerce strategy is that this gives them an opportunity to infiltrate the process. Keeping your brand in front of consumers, especially through enticing mobile offers, is a great way to get in the running for the shopper’s buying decision.
Technology Makes It Happen
Your retail management system can help you reach the millennial mCommerce shopper and make offers they can’t refuse. Geotargeting solutions can help you send emails or SMS messages to shoppers at just the right time, and data you collect from your point of sale (POS), CRM, loyalty and other applications can help you make offers that are personalized and relevant. A robust eCommerce solution helps you build a responsive website that is attention-grabbing and compelling as well as easy to use.
It’s estimated that 61% of eCommerce is being conducted through mobile platforms making mCommerce critical in the positioning of your brand and attracting fickle millennial shoppers. Build a pipeline that keeps shoppers up to date on products and promotions and encourages them to act now.
To discover how mobile point of sale (mPOS) can enhance the in-store experience for your tech-savvy shoppers, download our Mobile POS Buyer’s Guide: How to Use Mobility to Bridge the Omnichannel Gap.