Last Updated on: 16th February 2024, 06:26 am
According to the Pew Research Center, the millennials range from the age group of 22 to 37. They are seen as irresponsible and immature. They are often seen as the generation that cannot handle business and spend most of their time struggling in the real world.
During their lives, millennials saw significant events such as the 9/11 terrorist attacks and the Great Recession. Other generations, too, experienced substantial events, but millennials are different as they grew up in an era of technology with access to an unlimited amount of information.
Moreover, today’s culture has given rise to publicity, conspiracy theories, messages of gloom, and anxiety. It has had a profound impact on millennials, both psychologically and socially.
6 Behavior Secrets of Millennial Shoppers and Print Shops:
01. Millennials want to feel good when they purchase:
Forbes’s research says that nearly 60% of millennials tend towards purchases that are an expression of their personality. The brand they choose should be able to speak to them at this level and make them feel good. They are not like Gen Xers, who consumers based on quantity. Online print shops should keep in mind that millennials value their dollar more and perceive products of high value that meet their emotional needs. Many brands do understand this and provide offers such as ‘buy one, get one,’ which makes the millennial shoppers feel good about their purchase.
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02. Millennials value experiences more than any other generations
Nearly half of the millennials prefer to spend money on experiences, and they are willing to pay extra for it. Many brands recognize this for which they have set up tools to facilitate interactiveness between the retail and customers. For example, many have installed an interactive kiosks in their store. Some provide virtual reality experiences. Some create unique events and ask their customers to join. Many employ trained professionals who help them while buying a product.
03. They like sharing with their friends:
Forbes research has found that millennials are 13% more likely to share their purchases on social media than Gen Xers. Social media and messenger apps are the new forum for Millennials. It is where they go to get reviews, feedback, and suggestions. Hence, it is advisable for brands that they actively engage with their social media users. They should listen to what their customers are saying and be ready to address any pain points.
04. Millennials don’t shy away from trying new things:
They have no problem trying out new brands, even new products. They are less likely to stick to an old and reliable brand, also if the brand has worked for them in the past. Hence, brands have to move from the concept of how to win customers to how to woo customers. It’s a tough job to keep customers hooked to your brand when your competitors are also trying the same thing. Devise a strategy to win over your competitors as well as customers.
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05. They trust their peer’s endorsement :
More than 1/3rd of millennials prefer to take feedback from someone they trust has already tried it. Although they like trying new things, they give less attention to company-generated advertisements and trust more word of mouth from their friends. Therefore, while planning a marketing strategy, brands have to incorporate influencer marketing strategies to build trust, among others.
06. They want relevancy:
Nearly half of the millennials appreciate when brands make ads and social media posts that are relevant to them. They love it when the store personalizes their shopping experience, and Amazon.com is leading the way in a personalized shopping experience. Brands need to strategize a plan to understand how their brand resonates and connects with their audiences.
Although millennials had a rather slow and meandering path to adulthood, they have become socially different on their own. However, by following these insights mentioned above, you can create a marketing strategy that will improve your reach to the millennial audience.
What Do You Understand by Consumer Shopping Behavior?
Consumer Shopping Behavior means the actions performed by consumers before they buy a product from an online or offline store. Some of the actions performed are searching for reviews, social presence and response of the public, and most likely the recommendations from friends and relatives.
Is there any difference between Buying behavior and Consumer Shopping Behavior?
Consumer Shopping Behavior is the steps or actions taken to know about the product and its legibility from different sources whereas Buying behavior is the final decision taken by consumers after scrutinizing the actionable steps.
How to know about consumer behavior?
You could know about consumer behavior from their response or reviews after they purchase a product. Moreover, what features do they look at, what benefits do they get post-purchase, etc?