In 2014, millennials will become the largest generation on the planet. Unlike the generations that came before them, millennials are truly a world-wide phenomenon. They’re more diverse than any previous cohort and have global reach, thanks to the Internet. Multi-cultural is the norm for this bunch.
They are confident, self-expressive and upbeat. Raised hearing, “You can be anything you want to be,” and, “You can do it!” from their baby boomer parents, they’re optimistic, but not foolish. In fact, they’re very much realists. (You can thank gen X for that element of wisdom!)
Brands matter greatly to this group. They take time choosing their personal favorites, landing on brands that align with their attitudes, beliefs and even personal quirks. Luxury or commodity, they’re a fickle bunch but, believe me, you want to make the cut.
While millennials may not have the deepest pockets or strongest cash flow, they topple other generations in terms of influence. They have high expectations and are full of opinions. They say their piece and say it loudly; more importantly, others actually listen. For those looking to sell to them, it would be wise to consider what they have to say.
Retailers smartly have their eyes on this group, and if you’ve looked around, you’ve probably identified more than a few that need some help. We’ve identified a handful of brands ready for a millennial makeover – join us at IRDC to find out who made the cut.
To learn more about gen-Y friendly retailing, join Brian Shafley, president and chief creative officer of Chute Gerdeman, at IRDC on September 6th as he leads a panel of millennial designers in “Retail Gets a Millennial Makeover.” For more on IRDC, visit irdconline.com