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Shop Org Dig Mil Pc
The document discusses Millennials and their impact on shopping behaviors. It provides details on who Millennials are based on research studies. Millennials are digital natives who are constantly connected through various devices and social media. They influence purchasing for their households and spend over $200 billion annually online. The document also discusses how retailers can appeal to Millennials and change their marketing approach to focus on immediacy, originality, and entertainment.
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Shop Org Dig Mil Pc
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- 7. TODAY’S PRESENTATION Whythey matter How they came to be Who they are Millennials are changing shopping What appeals, what you can do
- 8. GEN Y IMGENERATION BLING GENERATION GENERATION ME ECHO BOOMERS
- 9. Studied 72 Millennialsover an 8-week period: one-on-one interviews, in-home video diaries, online focus groups, eye tracking Incorporated quantitative data by JupiterResearch, Harris Interactive, Forrester, MTV, etc. Reviewed topical books: Millennials Rising , Pop Culture, and Generation Me OUR APPROACH
- 10. OUR DIGITAL MILLENNIALS14-24 years old Digital lifestyle focus 10 hours online/week 30 min mobile phone/day 6-10 text/IM day Social networking Distribution of age, race, gender, spending and geography
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- 12. US Census Bureau,March 2005 MILLENNIALS’ SIZE MIRRORS BOOMERS’
- 13. US Census Bureau,March 2005 MILLENNIALS’ SIZE MIRRORS BOOMERS’
- 14. MILLENNIALS INFLUENCING ALLOTHERS US Census Bureau, March 2005
- 15. SPENDING POWER OFMILLENNIALS $200,000,000,000+ 15%-17% spent online
- 16. INFLUENCING HH PURCHASESHarris Interactive, 2006
- 17. OFFLINE PURCHASING DRIVENBY ONLINE Learn about products online, and then buy them at a store Online behavior drives offline purchasing per capita ($ spent annually) Harris Interactive, 2006
- 18. ONLINE PURCHASING HASTRACTION 65% purchased online (18-24 year olds) JupiterResearch, 2006
- 19. ONLINE PURCHASING HASTRACTION JupiterResearch, 2006
- 20. CATEGORIES STILLEMERGING JupiterResearch, 2006
- 21. BARRIERS TO ONLINESHOPPING Harris Interactive, 2006
- 22. How they cameto be
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- 24. ERA OF THECODDLED CHILD
- 25. NO LOSERS, JUSTWINNING-CHALLENGED
- 26. BORN AT THEKEYBOARD Popularization of the PC Apple II launch Cable TV channel explosion
- 27. BORN AT THEKEYBOARD Internet commercialized Email popularized Cell phones go mainstream MP3 boom IM catches hold Popularization of the PC Apple II launch Cable TV channel explosion
- 28. Birth of theiPod TiVo and DVR takes off Networked gaming popularized Xbox launches Growth in VOIP membership Ringtones become a billion dollar business 100M videos viewed daily on YouTube Social network sites redefine social order BORN AT THE KEYBOARD
- 29. 68% percent of8-18 year olds have a TV in their bedroom 65% have a portable music device 55% have handheld video game players 54% have VCR/DVD player 49% have a video game player 31% have a computer PROSPERITY FUELS TECH-RICH LIFESTYLE Kaiser Family Foundation, 2005
- 30. SPOT THE DEFUNCT DEVICE
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- 32. PERPETUALLY CONNECTED DEFININGTRAITS: DEFINING TRAITS:
- 33. DIVERSE ACTIVITES ONLINEJupiterResearch, 2005
- 34. 81% of teens use or own a mobile phone. Consumer Electronic Association, 2006 College kids typically dash off 20-30 text messages a day. Vibes Media, 2005 38% of 13-21 year olds go online before or during breakfast. Harris Interactive, 2006
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- 36. EVERYONE’S “A FRIEND”32% chose cell phone when asked to imagine a fake law stipulating only one form of communication. Virgin Mobile USA, 2006 3-5 C.O.T. Dozens – Hundreds Online friends 5-25 Social tribe Thousands – Tens of thousands Boundless network
- 37. In-person, mobile, text,IM, SN, email IM, mobile,text, SN, in-person SN, IM, in-person SN 3-5 C.O.T. Dozens – Hundreds Online friends 5-25 Social tribe STRATIFIED COMMUNICATIONS Thousands – Tens of thousands Boundless network
- 38. EMAIL USAGE ISFLAT—NOT PREFERRED Harris Interactive, 2006
- 39. I facebooked her.— Micky, 16
- 40. MULTITASKING AND “PRODUCTIVE” DEFINING TRAITS: DEFINING TRAITS:
- 41. MULTIPLE THREADING ISENGAGING STARSKY & HUTCH (ANY EPISODE) THE SOPRANOS (EPISODE 6) Steven Berlin, 2006
- 42. 24-HOUR MEDIA CONSUMPTIONHarris Interactive, 2006
- 43. Millennials consume 20 hours of media per day, but within 7 hours of clock time. MediaWeek, June 21, 2006 Unstructured free time has decreased by 37% since 1981. Strauss and Howe, 2006 61% of young consumers feel that video ads are too long and occur too often. Forrester, 2006
- 44. FILTERING FOR IMMEDIACYAND CONTROL DEFINING TRAITS: DEFINING TRAITS:
- 45. PROCESS INFO UPTO 5X AS FAST AS ADULTS Dwell on the first 1-2 words of text Don’t read across lines of text More inclined to notice images, videos, moving objects
- 46. Pop-ups are thedevil. — Anna, 15
- 47. 37% of18-24 year olds feel their review should be posted and unedited. JupiterResearch, 2006 72% of DVR users (HH’s) fast-forward through TV ads. CNW Marketing Research, 2006 23% of 18-24 year olds pick up in-store to ensure product availability. JupiterResearch, 2006
- 48. NEED MULTIPLE PERSPECTIVESAND VIEWS JupiterResearch, 2006
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- 50. SELF-EXPRESSIVE YET ASSIMILATIVEDEFINING TRAITS: DEFINING TRAITS:
- 51. 68% play music. 47% paint or draw. 30% keep a journal. Virgin Mobile USA, 2006 38% of Gen Y (18-26) use social networking sites. Forrester, 2006 52% rely on social networks for purchase advice. Forrester, 2006
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- 53. Together Everyone AchievesMore T.E.A.M.
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- 55. OPTIMISTIC AND SELF-ENTITLEDDEFINING TRAITS: DEFINING TRAITS:
- 56. 31% ofAmerican teens believe they’ll become famous. MTV, 2006 58% of teens think it’s legal to copy a friend’s purchased DVD, video or music. LA Times/Bloomberg, 2006 76% think it’s important to ask their opinions about what teens really like. Harris Interactive, 2005
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- 58. — Matthew,21 I will influence more people than you can imagine so show me what I want and then you’ll be just fine.
- 59. Millennials are changingshopping
- 60. OLD PURCHASE PROCESS:FUNNEL
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- 63. FROM FUNNEL TOFISH
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- 70. What appeals, what you can do
- 71. KEEP IT REAL. 01
- 72. KEEP IT REAL:Razr Authentic to the brand with both genders Maintains street cred through constant updates
- 73. KEEP IT REAL:eBay Authentic to the brand Perception of a “deal” Self-policing Constantly fresh
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- 75. HEAR ME OUT:Amazon Easy to read and post reviews Tip: need to solicit and delineate by affinity group
- 76. HEAR ME OUT:Levi’s Motivating involvement with customizable viral tools Crowdsourcing for next face of the brand Inspiring creation and sharing of ringtones (UK)
- 77. Motivating involvement withcustomizable viral tools Crowdsourcing for next face of the brand Inspiring creation and sharing of ringtones (UK) HEAR ME OUT: Levi’s
- 78. BE ORIGINAL ORDON’T BE. 03
- 79. BE ORIGINAL ORDON’T BE: Converse Making available limited edition merchandise Voice is synchronized with the offering
- 80. BE ORIGINAL ORDON’T BE: Threadless Fans help create the assortment Weekly refreshes invite repeat visits
- 81. BE ORIGINAL ORDON’T BE: AE In context On-body, 360° rotation
- 82. In context On-body,360° rotation BE ORIGINAL OR DON’T BE: AE
- 83. In context On-body,360° rotation BE ORIGINAL OR DON’T BE: AE
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- 85. MY WAY…NOW: iTunesCan buy product in any combination Can sample the assortment
- 86. MY WAY…NOW: BestBuy Preorders for guaranteed availability In-store pick-up for quick access
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- 88. ENTERTAIN ME: Funnyand Fun
- 89. ENTERTAIN ME: bCODE(Australia) Fun way to use texting Personalize for occasions and events Sender-initiated payment
- 90. stimulate Develop freshnews and ever-evolving merchandising stories Produce viral events that drive PR Create branded media that is entertaining, malleable and pulls in the network
- 91. engage Become moresearchable on the site and on the web Zoom all views and invite more involvement Enable online reviews by affinity group Ensure rapid screen refreshes and loads Test user-initiated mobile communications
- 92. purchase Accept paymentalternatives Incentivize wish list and cart-sharing to foster action Provide in-store pick up for immediate gratification Provide economical overnight and 2 nd day shipping
- 93. empower /re-engage Develop members-only privileges Create real or perceived exclusive events Provide cool tools to influence social network
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Editor's Notes
- #4 Good morning, everyone! It’s really GREAT to be here with a record crowd. My congratulations to Scott Silverman and his amazing team for putting together another terrific program. I’m delighted to be here again this year to share this presentation which has been prepared exclusively for you -- no one, with the exception of my staff, of course, has seen it. And, it bears a mention that there are many people at my office in Columbus, Ohio that were involved in pulling this together. I’m really fortunate to work with nearly 200 folks that range in talent from research, branding, marketing strategy, design, application development…and more. So, today we’re talking about Digital Millennials -- a group that tops out at age 24 --. Out of curiousity, is there anyone in the audience that is 24 or younger? Phew….! (Or, if so, maybe you can help us get started..!!
- #5 Laughing out loud
- #6 Know how you feel
- #7 For those of you tempted to say, Point of Sale!! --- close, - Parent over shoulder !
- #8 Today’s presentation has 5 CHAPTERS…begin with a little context and then get into who they are, how they are changing shopping, and what you can do about to win their favor
- #9 You may know this age group – kids born between 1982 and 2000 by a lot of different names. What we’ve learned is that don’t like Gen Y because it feels like a follow on name…that we were too lazy to name them something else…and they are in fact very different from Gen X.
- #10 So, here’s what we did… Special thanks to Patti Freeman Evans and David Card at Jupiter Research for their help and insights along the way. Is Jupiter Research 1 or 2 words?
- #11 And, here’s who we talked to. We specifically sought out Millennials with a digital lifestyle EDD/NITA….need to fill in…how we talk about them as average or not… More than 80% of millennials spend an hour per day online!! First wave spends closer to 3 per day, younger kids spend closer to an hour Are they average millennnials…are they influencers?
- #12 Chapter 1 -- O
- #13 US Census Bureau released March 2004, are fast surpassing all other generation groups Note the relatively equal size of the Boomers to the Millennials. -- we’ve heard for so many years about the importance of Boomers because of their sheer size -- but it’s the Millennials that are coming on strong in huge numbers due to existing and forthcoming immigration Most diverse generation ever -- 40.3% are non-white US Census Bureau facing ‘ unclassifiable’ ethnicities in 2010
- #14 US Census Bureau released March 2004, are fast surpassing all other generation groups Note the relatively equal size of the Boomers to the Millennials. -- we’ve heard for so many years about the importance of Boomers because of their sheer size -- but it’s the Millennials that are coming on strong in huge numbers due to existing and forthcoming immigration Most diverse generation ever -- 40.3% are non-white US Census Bureau facing ‘ unclassifiable’ ethnicities in 2010
- #15 This generaiton will influence the behavior and attitudes of other generations. They are already doing it…. An example….how many of you have begun texting teenagers…it’s not because it’s fun or easy….it’s a pain…but they’ve influenced our behavior. are fast surpassing all other generation groups They are strong in numbers and they will also profoundly change GenX and BBs’s behaviours beyond their comprehension.
- #16 Every organization that tracks generation spending slices and dices it differently. In aggregate, Millenials spend over $200,000,000,000 ANNUALLY -- and that’s a conservative figure. Where do they get the money? Generally from asking parents, allowance, chores, gifts – paid jobs for older segments
- #17 Here’s what I find astounding…they are influencing the majority of household purchases From apparel *81%) to groceries (77%) to vacations (59%), autos (52%) and furniture (48%). Things have changed. I grew up 1 of 9 children and the only thing we influenced was how early we’d be sent off to bed!!
- #18 Becoming more and more multichannel…particularly in getting info online and then heading to the mall. And they are spending significantly -- on average, overage $400 per year offline
- #19 Purchasing Online from Jupiter Data 65% of 18-24 year olds vs 75% of 25-55+purchased online in the last year
- #20 EDD Comparing the first wave of Millennials to those 25-55, they are tracking in large purchases of $800 and more. One quarter or purchasers are spending 150-250
- #21 Categories they’re purchasing are what you might expect…and expected to grow in dollars and in breadth over time… Leading Product Categories purchased online by Millennials 18-24 Next highest category is prescription drugs….
- #22 Barriers to online shopping…top 3 are readily addressable.. SHIPPING CHARGES WAY TO PAY NOT ENOUGH INFO ABOUT THE PRODUCT
- #23 9 MIN CHAPTER 2
- #24 Each generation is defined by different beliefs, circumstances, and life events. Boomers -- Free thinking Gen X- individuality Millennials -- clean-scrubbed, teamwork-oriented. Defined by their collectiveness
- #25 It was the early 80s and we suddenly find children as “badges” proudly sported by their parents. “Baby on Board” signs, minivans, child-centered movies like Baby Boom , explosion of infertility treatments signal that children are in-demand. Just 20 years prior children were to be “seen and not heard.” Ten years prior children were getting in the way of the women’s lib movement, yet now children are wanted and an industry of catering to the needs of children is born. THE WANTED GENERATION…fertility boomed, parents wanted to have kids and to make them a central figure in the household.
- #26 Everyone’s a winner! Even 6th place earns a 4 foot trophy today. Remember the movie “One Fine Day”…where they race to arrive because every kid that arrives on time, receives a trophy. Millennials were taught that they are special and valued unconditionally. Collaborative learning began overtaking the incumbent competitive educational system. My daughter is only 7 and has “graduated” four times – twice from swimming lessons, once from preschool, and once from safety town…!
- #27 Technology exploded during their lifetimes.
- #28 They were pounding away at software programs called “Baby time” as infants…
- #29 This is the only world they’ve ever known! As a result many Millennials consider themselves “experts on technology”
- #30 We’ve seen economic abundance in America during the Millennials’ childhood years. Even economic downturns proved temporary as they reversed themselves while Millennials were yet still schoolchildren. Never before had children had such disposable income in their households and in their own hands. Marketers stepped up their direct-to-child efforts, resulting in a generation of children steeped in marketing and unprecedented exposure to retail. Longest recession was only 8 months and only 2 recessions since 1982 vs more frequent and longer in duration. NEW HOME CHARACTERISTICS (Single Family) from NAHB: In 1970 average finished area square foot of a house was 1,500, compared to 2,080 in 1990, and 2,349 in 2004. In 1970 52% of new homes had 1 ½ bathrooms or less, compared to 13% in 1990, and only 5% in 2004 In 1970 32% of new homes had 2 bathrooms, compared to 42% in 1990, and 39% in 2004. In 1970 16% of new homes had 2 ½ bathrooms, compared to 27% in 1990, and 33% in 2004. In 1970 only 34% of new homes had central AC (66% did not), compared to 76% in 1990 (24% did not), and 90% in 2004 (only 10% did not).
- #31 This is a fun game…Millennials don’t know what most of these items are or will never have a use for them… Rotary phones, slide projectors, fax machines, encyclopedia -- BOOKS??!! -- watches!!! Sales of stereos plummeted 21% in one year (2005-2006).
- #32 12 min CHAPTER 3 -- MEET THE MILLENNIALS
- #33 Most distinguishing characteristic of all -- because of how they’ve been exposed to technology. Millennials are a generation that is perpetually connected.
- #34 First, they’re online a lot -- upwards of 3 hours per day for older Millennials and 1 hour per day for younger Millennials. When asked, what activities do you regularly do online… Most doing homework, playing games, shopping, viewing personal web pages and blogs
- #35 Mobile phone is their lifeline…private interactions, constantly on -- some told us they never turn it off and even text message friends early AM to say good morning or late PM to say goodnight. In their world, media channels have grossly expanded and converged – they do not delineate between marketing channels – Websites, Blogging, IMing, Mobile Devices (texts, remote IMing, camera phones, etc.).
- #36 Listen to them talk about how they sustain their friendships.
- #37 Millenials let everyone into their world…. Millennials are excellent collaborators – to the point that few decisions are made independently. Millennials have been raised to believe that there’s safety in numbers and technology makes it so easy to take an instant poll, to share information, and to consult the distributed expertise of their network.This makes them very informed purchasers and retailers vulnerable to public opinion.
- #38 They stratify their friendships in a tech-determined fashion….their devices drive the intimacy triangle Notice that email is seldom used -- primarily with their circle of trust…but only as a last resort. Intensely collaborative,
- #39 While they receive more and more email as they age, they still send out a very small number overall….email is reserved for teachers or parents…rarely email their friends
- #40 While older adults talk about emailing a friend. A Millennial would say, “I facebooked her.”
- #41 Millennials are busy…overscheduled more than ever before. And, in their minds, “productive” --
- #42 Millennials’ brains are wired differently. They are able to understand more complex story lines and become bored with overly simplistic interactions. In Steven Berlin’s “Everything Bad is Good For You” -- compare the typical storyline from an older adult’s childhood to that of a Millennials…More characters, more plots, more threading…
- #43 So, it’s no surprise to look at how much media that a Millennials is consuming in any given day. Conditioned by a heavily structured and scheduled childhood and influenced by a culture of “doing”, Millennials don’t do well with idle time. Leave them alone and they become fidgety and anxious. Technology is their tool to becoming “productive” once again, providing them connection, stimulation and instant gratification
- #44 Most of all, they are simultaneously consuming media -- 20 hours worth within 7 hours of clock time -- 61% of them are consuming media AND doing homework! All this is possible because their unstructured free time has reduced dramatically since the early 80’s. Matter of fact, sales of day-planners soared from 1 to 50 million in the 90; .
- #45 Because they are simultaneously consuming media, multi-tasking, and tuned into the notion that marketing is all around them. They are savvy and know that they have been marketed to all their lives. They have developed finely honed skills for filtering out messages and media that aren’t relevant.
- #46 We performed eye-tracking on our Millennials to test their processing speed relative to older adults. We found that they process info up to 5x faster. They require complexity….skim to keep their mind engaged…look at the movement on this page, the red area shows where they dwelled but because the area is small, their dwell time was short, typically a fraction of one second. Dwell on the first 1-2 words of text and don’t read across lines. More inclined to notice images, videos, moving objects.
- #47 Millennials have a high disdain for anything that interrupts them -- anything that they can’t control, turn off.
- #48 Many of them live in HH with DVR’s and those that do are fast-forwarding thru ads. If they take the time to write a review, they expect it to be posted immediately and to be unedited. And, once they’ve decided on an item they want to buy, a quarter of them, particular first wave Millennials, want to pick up in-store to ensure they get the product THAT day.
- #49 Millennials rarely make a decision on their own. When it comes to online ratings and reviews are more important to them than to older adults. They also need the immediacy and control of seeing an item in multiple views -- all views. No detail an be left unshown or unknown.
- #50 They are impatient!!!
- #51 Uncanny paradox -- so much to say yet their identity is an extension of the group.
- #52 Because they have been coddled -- they have also been exposed to far more activities than prior generations. They have had the opportunity to develop discreet tastes and hobbies -- they have the luxury of finding what interests them whether it’s fencing, field hockey, or pottery. They see themselves as creative individuals. Over HALF RELY on their social networks for purchase advice -- this is huge -- and we’ll talk about the implications shortly
- #54 Their generation is and will be known for its collectiveness -- collaborative nature. Even when we texted a question to our participants, they often sought the “CONSENSUS” of the group before responding. T.EA.M. is the mantra for their generation…so much so that they have little respect for hierarchy and don’t necessarily trust authority unless it’s earned. LET’S LISTEN TO HOW THEY FIND COMFORT IN BEING LIKE THEIR FRIENDS…
- #56 This generation is not dark or jaded in any way. Matter of fact, they have an amazingly inflated sense of self, aspirations for the NEAR future…and believe they are entitled to …well, almost anything.
- #57 Most have no idea it’s illegal to copy a friend’s purchased DVD, video or music. They think it’s vital for companies to find out what they really like. And, perhaps most interesting, nearly 1/3 BELIEVE they’ll become famous.
- #58 37% expect to earn more than $100K by age 30.
- #59 When asked, “how should brands treat people your age?” Matthew started with.….I don’t have a lot of money….but I will influence…
- #60 29 min CHAPTER 4 Because Millennials are perpetually connected, expressive, multi-tasking, and reliant on their social netoworks -- they are changing shopping…
- #61 You know the old purchase process, a numbers game -- push them through the funnel, recognize that they’re going to bounce through multiple channels, but in the end -- it’s been a numbers game of impressions, visitors, conversions….
- #62 The impact of traditional advertising and brand communications is going down as Millennials multitask, simultantously consume media -- they are tuning out traditional brand-endorsed triggers.
- #63 And they are tuning into their social network at the beginning of the purchase process, in the middle, and at the end… The shape is not longer a funnel -- if you look at the orange circles…we started to see a FISH!
- #65 Social comm trumps brand comm as Millennials are filtering and discovering. Media must be more targeted and catalytic. It’s not longer 1 to 1 or 1 to many but 1 to many, then many more. To get their attention, must be a hybrid of of brand and social medial -- Trust is in the network.
- #66 No longer a shopping model, it’s an engagement model -- 2nd step is critical because 3 steps of “get info,” “short list,” and “select,” are consoldiated into a peer approval step. In this stage, Millennials are sharing, creating, and validating. Mobile phone, IM, texting plays a major role in engagement
- #67 Once their decision has been narrowed or validated by their network, Millennials have heighted expectations for on-deman info and services. They expect product pages or FAQs to have all the answers, or CSRs, or email. Once they decide, they will not wait for page loads, out-of-stocks.
- #68 When they’re ready to pay, they want it now. No delays, no 7-10 days for ground shipping. In-store pick up. They need immediate gratification and tangibility.
- #69 And then what happens next, can’t be underestimated….
- #70 Word of mouth can happen because you have an amazing product. But it also happens when a Millennials starts to feel like he or she is part of something special -- feels a sense of belonging. They also want to return to their networks to “help others make decisions” -- for real.
- #71 33 min CHAPTER 5
- #72 Millennials value authenticity…one of things we heard is that brands need to Keep it Real… Millennials have a highly attuned BS detector
- #73 One brand they raved about (unaided) was Razr. Feel that it’s an authentic brands…cool, hip, but stays true to who they are be constantly coming out with cool, new products. Most of them would do about anything to have this phone. They see it as “elite” but worth it because it’s so well executed.
- #74 Millennials raved about eBay…some had auctioned off their own wares, but most just love the thrift experience. They think of eBay as authentice, great place for a deal, constantly fresh -- the main menu is constantly loading fresh merchandise -- which makes me think that 3 week windows that many multichannel retailers work within do not provide sufficient excitement for Millennials
- #75 Millennials want to be heard -- literally, listened to but, also involvement with brands.
- #76 When a retailer asks for their POV or enables them to write a review, they feel heard. Amazon was one of the few sites they mentioned in this arena. Millennials noted that reviews are helpful but in a limited way…they would prefer to delineate by affinity group -- people their age. Some travel sites are starting to figure this out…
- #77 Kudos to Levi’s for experimenting …they are motivating involvement by allowing shoppers to upload their image to be a part of their current ad campaign. It’s quite funny -- matter of fact, this is my 7-year old daughter, complete with missing front tooth -- as a test!
- #78 Smart move…they know Millennials hate to pay for shipping (REMEMBER IT’S THE NUMBER 1 BARRIER TO ECOMMERCE) -- so they’re rewarding Millennials with free shipping if they forward their movie to 3 friends -- FREE ADVERTISING -- the BEST kind, customer-endoresed!! Also, doing some crowd sourcing for the next face of the brand. And, their UK site is more aggressive with the creation and sharing of ring tones.
- #79 Remember, this group is highly creative, expressive….they seek out ORIGINALITY -- even, if in the end, all their friends have the same things.
- #80 Converse not only let’s you build your own shoe -- but they also provide access to hard to find and limited edition merchandise. No stodgy, boring product descriptions, but a great voice that syncs up with the product. .
- #81 Millennials talked about Threadless.com -- a place where they can submit their own creations to be considered for production. The community essentially weighs in on “what they would buy” and if a minimum number commits, Threadless produces the design. Each week, the new submissions are featured which drives repeat visits….and an ongoing interest in the new brand.
- #82 Originality can extend to new ways of viewing and interacting with the product. In general, Millennials like seeing jeans, in context, on body -- and having the ability to rotate the product 36- -- even as cool as this tool is, they wanted more -- to see the product bigger, and more control of the interaction. They reminded us that they are used to more precision, more control from video games!!
- #83 Originality can extend to a new way of visualizing the product.Interesting…mixed reviews…wanted to see it bigger, more control…Gian Carlo talked about how the buttons for this group can be smaller…they are used to the precision required from video games.
- #84 But check this out…! Millennials were engaged -- similar results with both genders. Look how much attention they focused on the fit through the rear and the flair at the bottom -- contrast this degree of focus with how they skimmed all over the myspace.com page -- this tool provided focus.
- #85 You heard them. They’re impatient. They want CONTROL.
- #86 iTunes is a favorite….this site speaks to them for a host of reasons -- it let’s them buy in small increments -- less than a dollar if they feel like it. Can create combinations to express their mood, personality, occasions… And they can sample before they buy -- OVERCOMING, the number 3 BARRIER TO ECOMMERCE.
- #87 MILLENNIALS ARE IMPATIENT…THEY DON’T WANT TO WONDER, WAIT, WORRY. If a hot product is on the way, they want to be able to sign up for guaranteed availability. They also like inventory look-up so they can determine if a trip to the mall is worth it.
- #88 Millennials want to laugh, have fun…belly laughs are great, but anything that they can experience with their friends, pass along to their friends, talk about with their friends resonates.
- #89 Millennials couldn’t site a retail brand that made them laugh. Typically we’ve found that branded manuf and cpg companies are learning from retailers but in many instances CPG, beverage and entertainment brands are more in touch with Millennials. This is what makes them laugh,…
- #90 Number 2 BARRIER TO ECOMMERCE -- way to pay…in Austrailia, they’ve developed a way to pay and have fun -- a company called bcode enaables a sender-initiated payment in which a person can send a BEER -- yes a BEER! To a friend at a bar or restaurant. Choose your recipient, text the code to the participating bar, recipients scans the numer at a small terminal and receives a beer -- how about that?!
- #91 40 min Move beyond 3 week windows - FRESH -- give them something to talk about -- “did you see?!!”” Have to work with PR and external relations to create events….PR teams, web teams cannot work in a vacuum -- you may need to create buzz to drive traffic to pop-up stores that last for a short period of time -- on the beach, on campus, in a bar. Begin providing tools (like Levi’s) that is branded -- but ultimately USER ENDORSED to pull in the network.
- #92 Recognize the the social network is at play in a big way -- First, be more searchable on the site (more indexable) and on the web (stronger brand messaging in organic results) Zoom all views -- not one, or some…give them the control. Reviews by affinity group Faster downloads -- they are inclined to click away after just 2-3 seconds -- Ajax and other techniques for speed Begin testing user-initiatied (KEY WORD) mobile -- it’s coming, figure it out or expect to be a fast follower.
- #93 NUMBER 2 BARRIER -- WAY TO PAY -- if you are not already doing it, begin accepting PayPal and other alternatives Create more incentives for sharing wish lists and cart sharing…-- within a designated window of time The ever popular in-store pick up… Shipping is a big barrier
- #94 Millennials want a sense of belonging --after they purchase, invite them into a club or pull them in (AGAIN) with special privileges Create events and opportunities that make them feel special Give them a fun way, cool tools…
- #95 45 min TALL ORDER, indeed…so instead of closing here, we decided to add a SURPRISE CHAPTER - -chapter 6 onto this presentation. Since Millennials are indeed changing shopping, I thought it might be helpful to envision for all of you what shopping could look like in the the not too distant future. In doing so, I rallied 2 teams of strategists, designers, and technologists and together, we dreamed up 2 scenarios that I’d like to close with by sharing with you.
- #97 53 min Thanks for your undivided attention this morning…be sure to look for more on this topic next summer when my next book, Open Branding is released…!!
- #98 And, if you still find this generation baffling, we have the official Digital Millennials Decoder available to all of you at the stage or on tables at the rear of the room.
- #99 55 min At this time, I want to say THANK YOU for listening and I invite any questions you may have!!! Please visit us at Myspace.com/RuReady4us for presentation highlights