Escrito por Maria Laura em 23/03/2016 | Atualizado em 23/03/2016
Tempo de leitura: 9 min
Confident, connected and restless. This is the generation that is changing the consumption ways in the world.
Who are they?
The Millennials Generation, composed of young people born between 1980 and 2000, is considered the largest to date, with about 2 billion people around the world. They are able to influence other generations with their behaviors and transform the market by imposing their own consumer logic.
They grew up in an environment of rapid technological change, globalization and economic transformations. This brings to this generation a set of behaviors and experiences different from previous generations, like their parents, for example.
In personal life, the Millennials have taken longer to marry, as well as to leave home on their own. That does not necessarily mean that they don’t have the desire to get married and have their own place, but states a change of attitudes and priorities. In addition, they value economy and the shared use of resources, that is, they bring with them a change in style of consume.
Being the first generation of digital natives, the affinity the Millennials have with technology influences the way they buy and consume. Instant access to prices, comparisons and product information are great allies both to them as to the use of retailers.
Another strongly present behavior is the dedication to the well-being, spending time and money to work out, eat properly and research health benefits. The more active lifestyle influences the changes in habits on everything, from food and drink to fashion.
Along with the Millennials, there come some of the trends that will shape the new economy, the retail and the form of consumption in the coming decades. And, with all this, come peculiarities of habits and behaviors in different retail sectors, some with more prominence, as:
– Car dealerships;
Millennials and the dealerships
Transform the store in order to conquer those who want not only to have a car, but a mobility or communication vehicle.
In previous decades it was built an image that the car was a synonym for masculinity, autonomy and, above all, freedom. With the turn of the century, the Millennials have changed this conception. Today, sustainability, connectivity and sharing are extremely important accessories.
For dealerships, this type of behavior is an immense challenge, considering that the way to approach and the product should no longer have the same formats of a traditional store.
When speaking of automotive products, the young generation of the Millennials are concerned about connectivity and all the benefits it can bring. Vehicles must be increasingly connected to smartphones, as this is an important integration for people wishing for interactivity while moving from one location to another.
However, technology must be present in addition to the final product. For this generation, the interaction starts long before the purchase of a vehicle. It begins already in the price survey on the internet, through the use of purchase simulation resources or capabilities of customization of the vehicles attributes.
Technology is so present and involved in the processes of purchase of products with high value as any other item that the young generation of the Millennials consume on a daily basis. Thus, the approach at the point of sale must also be differentiated and go far beyond the online world.
They don’t like traditional methods of buying, so they get to a car dealership, for example, the seller won’t convince them to buy a vehicle with gifts, like carpets and darkened glass.
Customers like that wish to have the customization that they themselves have created on the website of the brand, as well as to find out more information about economy, fuel type, technological capabilities and customization.
With a new way of thinking, the conveniences in dealerships can also be reinvented. Systems that allow for assertive evaluations, for example, made by photographic records that are saved in the cloud along with the life cycle of vehicles, giving the possibility not only of a service provided, but also of a context, demonstrate transparency and ethics.
All this is consistent with the reality that cars, which have been protagonists of consumer desire of youth, have already lost to gadgets, which now occupy such position. Therefore, the natural way is that one blends into another, reinforcing the power of choice of current consumers, with the technology being used for stores and not against them.
Millennials and fashion retail
They follow more trends, customize more and are less conservative in relation to brands.
According to the survey “Millennials as New Parents: The Rise of a New American Pragmatism” made by Barkley agency, the Millennials are more focused on keeping the last fashion trends than the population of previous generations. They also have a more conscious image about the brand and are less conservative.
The search for being unique and different is a big draw for these consumers and proposals of brands that enable customization provide a service of authenticity that this generation searches for so much.
The research also reinforces another expectation of this generation: If you are exhibiting at retail, your employees must also believe in the brand and follow the purposes. After all, the consumer believes that it could be disastrous to maintain employees who are unable to deliver the image you want to.
Fashion has always been social. Today there is nothing extraordinary about some friends meeting for lunch, and a day of shopping. The definition of what we describe as “social” has expanded, because for the past 13 years friends have been considered major influencers on purchases of this generation. In other words, no matter how much we are prepared, the opinions expressed and disseminated by word-of-mouth will be taken into consideration.
Another issue is that Millennial women don’t only ask their friends opinion to choose their clothes: they also check fashion blogs, seek references on several websites, magazines and shop windows, and often, share photos of garments from inside the store before buying it. However, if when entering a store customers feel safe with offers they like and that are close to what they expect, they don’t only search for opinion, they also promote the brand.
The most successful brands have created influencing campaigns that inspire a genuine engagement of the public, rather than screaming a message through all channels at once. That has fueled a new goal of participation rather than simply calling for the marketing activity.
Millennials and pharmacies
Focus on health and well-being are the watchwords.
A generation worried about health, sustainable consumption and the longing to live with quality. Drugstores become, for the Millennials generation, in a retail that offers prevention rather than treatment.
Indeed the pharmaceutical retail is one of the most stable for selling goods of daily necessities, but the young people of this generation seek for motivation and treatment alternatives, as well as seeking in pharmacies the surety of correct products for their needs, because they believe it is one of the most stringent industries with respect to laws and procedures.
Skin care, herbal remedies, personal care, products for the fitness market, makeup, among other articles that go beyond the medicines are for the Millennials guarantees that the pharmacy is, without doubt, a prosperous sales channel.
A survey by German GFK published in 2015 highlights that Brazilians have very strong habits in relation to personal hygiene, especially with oral health and skin care, staying in first place in a list of 23 countries. In other words, a prosperous market and with a generation worried about health on the rise becomes a great opportunity for the pharmaceutical segment to invest in the fidelity of these customers with the brand.
The technological appeal in this segment can still be much exploited. Applications to remember the client about the proximity of the purchase of the medicine continuous, or that show the nearest store are some alternatives and ways to bring the Millennial client closer to the brand. Winning this generation, chains and stores can have loyal customers for a long time, if we consider that their life expectancy is greater than that of previous generations.
Millennials and the teaching
A constant search for knowledge, regardless of the environment.
New students already have been born using the web as a way of connection, communication and exchange of knowledge. Therefore, both the processes of education, as schools and courses need to establish a new way to approach from the offer of a course, up to the time of enrollment and school classes effectively.
The young Millennials generation have been noticed as more able to control their own learning and choose their own technology and non-conventional methods to learn better. It shows up as a major challenge for language schools and professional training courses, and require them to develop new teaching formats and new categories of education.
With the bombardment of offers, especially on the web through websites and applications, of numerous types of courses with varying prices and even free, to attract students, to have a differential at the time of supply is critical, whether to convince them to come to a physical environment, or to establish new teaching methodologies, including in digital media.
Payment facilities, flexibility in class, differentiated forms of lessons, the possibility of deliveries, as well as educational materials that may be available in different channels are features that allow young people looking for a course to customize their teaching and still rely on resources that the own network can provide.
Furthermore, the commitment of this generation with education is much higher than at other times, since they are more engaged and search more. As Nestor Garcia Canclini says in his book “Readers, viewers and Internet users,” never read so much as today, in a clear reference that the young people of this generation tend to consume their content on the web and at all times, as are willing to search for different content.
The Millennials generation has participated in many important transformations: from different forms of communication and use of technology, to changes in family, education and career habits. There is much speculation about whether these forms of consumption are only temporary trends or if they will be progressive and increasingly rapid. These movements have inspired many companies to develop alternatives and create new forms of engagement for approaching these young people.
The Millennials generation understands consumption differently. By being connected and engaged, the way to enjoy technological benefits works in a more organic and natural manner. The connection to the internet becomes an item of basic need, questions become routine and inserted into the daily life, and personal opinions are widely disseminated and commented.
Thus, the way brands create a relationship with their audience should be decided carefully, to avoid unnecessary frictions and conflicts that can transform the image of the company.
Preparing for them is to build and deconstruct all the time. A generation who came to change long years of formulas that were used for decades, and put creativity and disruption as basic items of companies.
What retailers, regardless of the segment can do to evolve and bring the Millennials closer?
To join forces and build together can be the solution. Getting closer to those imposing challenges and taking as advantage what they have to say, using technology always in their favor.
How can dealers, retail sets, language schools, vocational courses and pharmacies take advantage of the Millennials generation? These segments can transcend and evolve along with them, without fear of change, because that’s what they seek. To change, live and engage.