Millennials start their day with their phones in hand to check text messages, emails and social media updates. Nine out of ten Millennials have already shopped online. Marketers cannot ignore the fact that this generation of people, of consumers, is actually the largest on the planet, with more than 1.8 billion members. And it’s not just about numbers, as these consumers have an influence on other generations. So, who are these consumers and what do they want ?
Generation Y or the Internet generation is a concept that refers to people born between 1980 and 1995.
This generation grew up in an era of great technological advances, mexico telemarketing surrounded by high-tech devices, and grew up in an environment that fosters individualism and extreme competition, but also, paradoxically, a certain sharing. They are people who are generally concerned about the environment and social causes.
And, as a large part of this generation has now reached adulthood, with purchasing and decision-making power, it is natural that they have become the target audience for offers of new services and the diffusion of new technologies.
A 2012 Cisco study of millennials’ internet habits reveals their behavior and attitudes toward the creation, access, and privacy of the vast amounts of data generated daily by smartphones, camcorders, monitors, and other internet-connected devices. The study surveyed 1,800 college students and young professionals aged 18 to 30 in 18 countries.
For these people, information is synonymous with “real time, all the time.” Nine out of 10 respondents get dressed, brush their teeth and check their smartphone as part of their morning ritual to get ready for school or work. For businesses, this is significant, as it shows that the workforce of today/today is more agile, more informal and more responsive than any previous generation.
This new generation is always connected and connected. And they buy online: nine out of 10 people have already done so. Regarding online shopping, the Cisco Connected World Technology Report study indicates that almost three out of five respondents (58%) say they regularly rely on reviews from other shoppers when deciding to buy items online; in addition, 28% occasionally consult online reviews and tests.
Fifty-seven percent – about three in five respondents – share their email address with stores and websites in exchange for receiving news about promotions and discounts or other relevant content. However, they are not willing to share much more than that – few are willing to give out their phone number, home address or other personal details.
Learn more about some of the factors that make this generation both a great opportunity and a threat to the current market:
Social Shopping – Generation Y rarely buys alone, one in three respondents does not complete the purchase without the approval of friends.
Interaction – This is the generation that interacts the most with brands and always shares feedback, whether negative or positive. More than 90% see this as a form of responsibility.
Trend – This is a huge group that is guided by trends and the speed of information. They don’t trust what a brand says as much and use other tools to know what to buy. Brands are no longer the only reference; there is also the social circle. Brands that cannot keep up with this pace fall behind.
Price and Quality + Humor and Honesty – The decision to choose a particular brand follows certain patterns: price, quality, comments from third parties about the brand or memories of the brand at some point in life. Two qualities that also help in the decision are honesty and humor. That is why social networks are so important for this audience, as this is where they interact with the brand. Another good option is to work with your influencers: one comment from third parties has more power than 20 comments from the brand.
