The journal of high-performance business
This article originally appeared
in the 2013, No. 2, issue of
Industry Report | Retail
Who are the Millennial shoppers
And what do they really want
By Christopher Donnelly and Renato Scaff
The digital prowess and market savvy of Millennials make
them a difficult group for retailers to bracket—do they
break all the rules, or are they more like other consumers
New research puts to rest a number of Millennial myths
and provides insights marketers can use to engage and serve
tomorrow’s trillion-dollar demographic.
accenture/outlookOutlook 2013
Number 2
Millennials—born between 1980 and
2000—are both the 20th century’s last
generation and its frst truly digital
one. This old century/new technology
dichotomy gives pause to marketers
attempting to understand and connect
with this key demographic.
But are Millennials really a unique
new breed of plugged-in, networked
savants Or do these prized consum-
ers share critical similarities with
previous generations
To fnd out, Accenture conducted
proprietary global market research
on the shopping behaviors of 6,000
consumers, of which 1,707 were
Millennials, across eight countries
(see sidebar, page 5). We also looked
at the capabilities of 60 retailers
worldwide to determine whether
they were providing the customer
experience this generation demands.
To give some idea of the stakes involved:
There are roughly 80 million Millennials
in the United States alone, and each
year they spend approximately $600
billion. While originally typecast as
fnancially dependent teens, today’s
Millennials include young adults in
their 20s and 30s. Many have careers,
are raising kids and live in their own
homes. While Millennials are already
a potent force, they will truly come into
their own by 2020, when we project
their spending in the United States
will grow to $1.4 trillion annually
and represent 30 percent of total
retail sales. Millennials will have
a major economic impact in other
markets our research covered as well.
Although Millennials have earned
a reputation for viewing the world
through a uniquely digital lens,
our results found some remarkable
similarities between them and their
predecessors: the Baby Boomers (born
from 1946 to 1964) and Generation X
(1965 to 1979).
survey respondents, in all three
demographics, said that they seek
out “the cheapest return option.”
said they practice “showrooming”—
examining merchandise at a nearby
retail store and then shopping for
it online to fnd the lowest price—
more often than they did a year
ago. This shift is due, in part, to
the current high penetration levels
of smartphones, which can enable
customers to search for an item easily,
even while in a store.
from all three generations said they
will go online to buy from a retailer’s
website if they want a product when
the company’s stores are closed.
having access to real-time product
availability information would
infuence their shopping choices
in terms of which stores they
would frequent.
The many similarities we found across
generations led us to challenge three
enduring myths about Millennials.
Myth #1: It’s all about online shopping
Millennials are certainly very savvy
online customers, but that doesn’t
mean they’ve stopped frequenting
brick-and-mortar venues. In fact,
interviews conducted recently at
one of America’s largest shopping
malls confrmed our survey fndings
that many members of the digital
generation actually prefer visiting
stores to shopping online. What’s
more, our research fndings in the
United States were refected in the
other countries where we surveyed
as well. Echoing countless generationsOutlook 2013
Number 2
of canny shoppers, one Millennial told
us, “You want to touch it; you want to
smell it; you want to pick it up.”
Make no mistake: Online and mobile
channels are important to Millennials,
providing the information and
insights they need to fnd the best
products and services. Many hone
their shopping skills on the Internet,
checking product ratings and reviews
or feedback on retailers, for example,
to confrm that both product and
vendor provide the best value and
service, respectively.
One challenge for retailers is the
Millennials’ seemingly omniscient
grasp of prices and promotions,
which this generation expects to
be the same in stores as they are
online. To cash in on in-store retailer
promotions, Millennials also want
mobile coupon scanning capabilities,
and having to print out coupons prior
to shopping could be a deal-breaker.
One summed it up this way: “When
I get to the store, if I haven’t printed
out my coupon and I can’t use it,
I walk out.”
When it comes to shopping, we found
that 68 percent of all Millennials
demand an integrated, seamless
experience regardless of the channel.
That means being able to transition
effortlessly from smartphone to
personal computer to physical store
in their quest for the best products
and services.
Myth #2: Loyalty is lost
In a recent survey of retail industry
leaders, nearly 40 percent said
the No. 1 concern they have about
Millennials is their lack of loyalty.
But we found that Millennials can
be exceptionally loyal customers—
provided they feel they’ve been
treated right.
They demand a customer-centric
shopping experience—one tailored
to their wants and needs as valued
customers. As one shopper put it,
“You want to feel welcome when you
go to the stores.” In describing the
ideal shopping experience, a Millennial
noted, “There is [something] about the
product and its cost, but there’s also
a big part about being treated like a
valued customer.”
Many seek personalized, targeted pro-
motions and discounts as the price for
their loyalty. “Loyalty programs are
big,” confrmed one interviewee.
We found that 95 percent or more
of Millennials say they want their
brands to court them actively, and
coupons sent via email or mailed to
their homes currently (or will in the
future) have the most infuence on
them. Other channels, such as text
messages, have an infuence on just
over half of all respondents in terms
of their shopping behaviors.
Although Millennials are masters
of social media, they view Facebook
and other sites differently than many
marketers may assume, which can
lead to misunderstandings.
While clicking an icon on a social
network page might indicate that they
consider a retailer or brand cool or hip,
Myth #3: Millennials treat retailers and
brands the same as people on social networks
(Continued on page 5)Outlook 2013
Number 2
68%
prefer shopping in
consumer electronics stores
91%
prefer shopping
in drugstores
84%
prefer shopping
in department stores
80%
prefer shopping in
apparel stores
prefer shopping in discount/
mass merchant stores
83%
Myth busting
Millennials still like brick-and-mortar stores. In fact, 82 percent of them prefer
bricks and mortar.
37%
will buy the item from
the retailer online
28%
will return to the store
the next morning
4%
will buy the item via
the retailer’s mobile app
Millennials can be exceptionally loyal customers: 69% say that when it comes to their
favorite retail store, a “closed” sign does not change their minds.
Source: Accenture analysis
will make a purchase due to a social media recommendation
28%
It takes more than Millennials liking a brand or a retailer on social media to make
them loyal customers.
。。。以上简介无排版格式，详细内容请下载查看