‘Tis the season to be jolly, which also happens to be the season where buyers are very aggressive in spending a huge amount of cash and credit for food, clothing, toys and other gift items. During this season, retailers all over the world are coming up with ways to engage as much people as they can. It is to be noted that millennials compose around 20 percent of Australia’s population, which means that this group will provide retailers with a huge opportunity this season.
That only means that sellers have to be creative so that they can entice as many millennials as possible. They have to observe their purchasing behaviour on top of knowing what items are hot for their generation. To make the most out of this, marketers have come up with many different strategies ahead of the season since millennials are more likely to get in ahead.
Bandt reports that digital retailers must have their mobile strategy ironed out before the shopping frenzy goes full bloom. This is a vital factor when it comes to engaging millennials, since they comprise the largest population of smartphone users. In Australia last year, 26 percent of the share of purchases done during the Christmas season was attributed to mobile users.
Those brands that do not have any presence for the smartphone users are missing out on a great opportunity for a huge market. This could also mean that they could struggle with targeting millennials effectively during the year’s busiest time in retail.
Another tip for retailers is that they should start getting everything ready as early as possible. This means that retailers should not wait until the last week of Christmas until they get their stocks ready for aggressive shoppers. In Australia last year, sales started increasing by a whopping192 percent towards the end of November. For those that did not see that coming, it looks like they missed out on a lot of sales.
In another report, it is said that millennials do not bite marketing ads very easily. Millennials are a well-researched class and, more often than not, they look for information on things that they plan to buy. This means that they are far from the impulsive stereotype which retailers have branded them for years.