Millennial Shoppers are Loyal — If the Price is Right

By Shubhomita Bose

2017 Millennial Shopping Trends

They are young and perceived as restless. That’s why brands tend to struggle to attract and retain their interest. But data reveals millennials are more brand loyal than any other generational market.

This surprising revelation comes from data compiled by digital marketing agency International Marketing.

2017 Millennial Shopping Trends

What Drives Millennial Loyalty?

Data shows good prices (56 percent) play a big role in driving millennials’ loyalty toward a brand. Affinity towards a particular brand (33 percent) and reliable delivery (25 percent) are other key factors.

It’s further evident that retail loyalty programs have a significant impact on millennials’ brand loyalty. Ninety-five percent of surveyed millennials say they appreciate brand that send coupons and discount notices via email.

Seventy-eight percent of millennials are also more likely to choose a brand with a loyalty program than a brand without one.

Build Loyalty to Bring in More Millennials

Evidently, brands that wish to draw more millennials should focus on building loyalty. And rewarding customers with relevant offers and promotions is the best way to go about this.

Brands must also remember that millennials are essentially experiential buyers. In other words, they are more likely to make a purchase if it’s personalized to their interests (85 percent).

Brands that offer them convenience get millennials’ attention. So a simple way to win over millennials is to provide ordering and delivery options that fit their busy lifestyle.

Improve Your Online Reputation

Millennials are also, of course, extremely tech savvy. And when it comes to researching products, the majority of them (78 percent) rely on online reviews. Significantly, online reviews are their biggest purchase decision influencers (78 percent) as well.

Augmenting your online reputation is therefore not just a good idea, it’s crucial to building millennials’ brand loyalty.

For more insights into the millennial consumer’s mindset and purchase habits, check out the infographic below:

2017 Millennial Shopping Trends

Images: Internet Marketing

This article, “Millennial Shoppers are Loyal — If the Price is Right” was first published on Small Business Trends

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Source:: Small Business Trends

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