Connect With Millennial Shoppers Through Social Media

Millennials represent about 30% of the population in the US1)https://www.census.gov/newsroom/press-releases/2015/cb15-113.html. In terms of retail spending, they are one of the fastest growing demographies. According to a report published by Accenture2)https://www.accenture.com/us-en/insight-outlook-who-are-millennial-shoppers-what-do-they-really-want-retail, millennials collectively spent about $600Bn in the US alone. That amount is expected to grow to $1.4Tn by 2020

A good multi-channel strategy is essential to reach this group. The shopping journey for them involves multiple devices, and multiple information sources. Social Media plays a very important role in this mix. A recent study by Blackhawk Engagement Solutions ranked Social Media as the #1 source for product and deal information for millennials3)https://www.bhengagement.com/report/infographic-millennials-disrupt-shopping-the-new-world-of-connected-shopping/.

  1. 71% of them spent time on Social Media every day. They spent about 2.3 hours each day on average(Source: TNS4)http://www.tnsglobal.com/us/press-release/tns-millenials_study_111915)
  2. 22% of them are influenced to take purchase decision by their friends’ Social activity. 16% take to Social Media after a purchase looking for Social Validation of their decision (Source: Alliance Data5)https://www.alliancedata.com/mobile-savvy-connected-millennials-go-shopping/)
  3. 57% post about shopping related Black-Friday deals on various Social Networks (Source: Mindshare6)http://www.mindshareintheloop.com/home/2016/11/15/mediapost-mindshare-men-will-have-fatter-black-friday-wallets)
  4. 49% said mobile offers influenced their in store purchase decisions(Source: Forbes7)http://www.forbes.com/sites/danielnewman/2015/08/04/what-brands-need-to-understand-about-the-millennial-shopping-journey)

Added to all this is the fact that 84% of millennials use a mobile device while shopping in stores8)https://www.alliancedata.com/mobile-savvy-connected-millennials-go-shopping/. So Mobile and Social Media stand out as powerful tools to engage millennials and influence their purchase decisions both online and in stores.

This is where XChannel comes in.

XChannel helps you run powerful Proximity and Social Campaigns targeting customers when they are in store.

  1. It helps create buzz around a product or a brand. This can help drive more customers online or to stores.
  2. By using proximity targeting alongside with Social Marketing, we increase the relevance of the campaign. This in turn help increase engagement and conversion.
  3. Finally, our powerful downstream analytics can help identify the social influencers for your brand and target them with more compelling offers

Want to know how XChannel can help your enterprise connect and engage with millennials more deeply? Please contact us to setup a demo 🙂

References   [ + ]

1. https://www.census.gov/newsroom/press-releases/2015/cb15-113.html
2. https://www.accenture.com/us-en/insight-outlook-who-are-millennial-shoppers-what-do-they-really-want-retail
3. https://www.bhengagement.com/report/infographic-millennials-disrupt-shopping-the-new-world-of-connected-shopping/
4. http://www.tnsglobal.com/us/press-release/tns-millenials_study_111915
5, 8. https://www.alliancedata.com/mobile-savvy-connected-millennials-go-shopping/
6. http://www.mindshareintheloop.com/home/2016/11/15/mediapost-mindshare-men-will-have-fatter-black-friday-wallets
7. http://www.forbes.com/sites/danielnewman/2015/08/04/what-brands-need-to-understand-about-the-millennial-shopping-journey
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