New research released from Euclid has found that when it comes to the effectiveness of marketing among those from different generations. In the report, which is entitled, “The Store of Past Meets the Shopper of the Future,” they found that millennials tend to be the least influenced by retail advertising. This is likely due to the fact that they have been exposed to advertising almost since birth, and have become more used to simply ignoring it (or even blocking it).
While the baby boomers and gen xers were more influenced by advertising, millennials were actually willing to tolerate email marketing more than the other two groups. Millennials don’t unsubscribe to lists nearly as quickly or as often as others, which could help drive more sales if handled properly.
One surprising bit of information was that despite the reputation of millennials only wanting to interact with other people online, they are actually more likely to list ‘interaction with a knowledgeable sales staff’ as an important factor when making a decision. They are more than twice as likely to want this type of interaction than boomers or gen x-ers.
The millennial generation doesn’t put the same focus on features as others either. Specifically, the report said, “Compared to their other generational counterparts, Millennials don’t put a reasonable checkout time at the top of retail must-haves; just 34 percent indicated this was a focus for them, as compared to 59 percent of Baby Boomers and 42 percent of Gen Xers. They’re also not overly motivated by a reasonable return and exchange policy; 52 percent of Boomers named this a top priority versus approximately one-third of Millennials.”
The bottom line of this report is that marketers really need to identify who their target audience is, and then customize their approach based on how they are most effectively marketed to. While this may sound like common sense, it does take a significant amount of work.
Those interested in the full report can find it HERE, but it does require a registration.