The decision maker is a millennial. WHAT NOW?!?
Experiences are nearly always more memorable than a fleeting advertisement. That’s why 77% of marketers believe that experiential marketing is a crucial part of their clients’ brand strategies, according to the Forbes article, “Experiential Marketing Is The Future of Retail.”
As we previously reported, the upcoming holiday season will likely be a happy one for retailers. A new Open X and Harris poll supports Deloitte’s predictions.
While the price of a personal watercraft (PWC) has historically hovered around $10,000, in recent years companies have begun offering less expensive, basic units to appeal to millennials and budget-conscious consumers.
"Consumers in the U.S. are keeping their smartphones longer. According to the latest Mobile Connectivity Report from NPD Connected Intelligence, one in four (25%) smartphone owners held onto their last device for more than three years before upgrading, up from 18% two years prior (2H 2018 vs. 2H 2016)."
"Midterm voter turnout reached a modern high in 2018, and Generation Z, millennials and Generation X accounted for a narrow majority of those voters, according to a Pew Research Center analysis of newly available Census Bureau data."
"Last year, two-thirds (66%) of Americans took at least one trip shorter than five nights, driven by younger generations (72% of millennials and 69% of Gen X’ers, vs. 60% baby boomers), according to a new Ipsos poll. For some, these short breaks are the longest vacations they take: about three in ten Americans (29%) indicated their longest trip last year was lasted less than five nights."
Since Nintendo debuted the first console in 1985, video games have taken America by storm and can now be played pretty much anywhere now that they’ve expanded from consoles and computers to mobile devices. This is great for the 67% of millennials who never outgrew their childhood gaming habits and play games monthly. But what good is that for advertisers who are targeting millennials, but aren’t selling video games?
"Millennial and Gen Z consumers are embracing luxury fashion. The average luxury consumer in these generations owns nine luxury fashion items across accessories, apparel, and footwear, according to A Millennial Approach to Luxury, a recent report from The NPD Group and Stylitics. But, they have a different style when it comes to the purchase journey. This younger luxury consumer favors the convenience and extensive browsing ability afforded to them by online shopping, but also appreciates the luxury in-store experience."
"Millennial parents, just like parents from the generations that preceded them, are increasingly looking to restaurants to take on the task of cooking for their families. Millennials with children increased their restaurant visits by 5% in 2018 compared to prior year, reports The NPD Group. Their visit increase is in comparison to flat traffic growth for the total foodservice industry in 2018, according to NPD, which tracks on a daily basis U.S. consumers’ use of restaurants and other foodservice outlets."
Have you been beating yourself up about not finding the magic formula that will help your younger employees achieve a good work-life balance? You’re not alone