A Guide to the Millennial Purchasing Process
How do we think? Differently. Why can’t you figure us out? It’s complicated. But here is a rundown on who millennials are to help you get on the right track.
1. We shop with our phones
I walk into a grocery store, movie theater, restaurant, or mobile phone store ready to buy, buy, buy! But I am not yet sure what I am going to buy, what movie I am going to see, what entrée I am going to eat or drink I am going to sip. I have that luxury because I have a smart phone and it helps me make decisions on a daily basis. As I browse the store, theater list, menu, or phone selection, I am googling, Face-booking, Instagraming reviews, feedback, criticism and advice in real time. I don’t need to look much further because I have a world of information at my finger tips. I don’t need to ask the clerk, waitress, or rep questions about what they think, I have a culminated list of influencers, reviewers, friends and family guiding me through this purchase. Things have changed.
2. Good Experience is the New Luxury
Millennials care less for brand names and more for experiences. Rather than spend a good chunk of change on some Ray ban’s, we’d prefer to store that money away for our next getaway so we reach for the cheapest pair. Instead of buying a 30 rack of Coors Light we’d rather enjoy a 4 pack of a double IPA, instead of buying the mainstream brands like Coca Cola, Pepsi, and General Mills we reach for and spend extra on a local artisan start-up that has made a “good for us” product. Take this for what it is.
3. Social Media is the new handshake
Have you ever shaken someone’s hand and it feels like a withered piece of fruit? That’s what it’s like to a millennial when they reach your Facebook or Instagram page and are utterly disappointed with your weak following and lack of quality and engaging content. To make this make sense to the older generations, a poor handshake is synonymous with a poor social media presence… don’t do it.
4. We care about our bodies; we care about other peoples well being
We want to be healthy and mindful. That is a big deal for us. Companies like Tom’s, Whole Foods, Chipotle etc. have thrived off this mentality. Let’s make the world a better place, and let’s make ourselves healthier and mindful. Why do you think General Mills and Coca Cola are scrambling to be healthier? Spending a ton of money to get rid of artificial flavors and appear to care for its customers. They are still falling short so they’ve decided to buy a bunch of small brands to put under their umbrella. What this all means is that the millennial movement is changing the way in which businesses do business.
We think differently meaning it’s time for the places we do business to recognize this. If they do not, then we will find places that will.