The shopping experience of millennials: a challenge for the retail sector
According to a study conducted by Carat “Consumer Connection System”, 62% of millennials use the Internet as the main source of information when making purchasing decisions.
“With a generation so familiarized with technology, this is the time for physical stores to renew their sales strategy and embrace this digital model inside their physical spaces”, says Jaume Portell, CEO and co-founder of Beabloo.
Millennials value a good shopping experience as well as personalized options and for this reason, implementing technological solutions that promote interacting with customers as well as incorporating new experiences at physical stores will become key.
Millennials are becoming the main shopping force and the largest generation. People born between the years 1984 and 2000 are already revolutionizing the way products and services are purchased. This is also true for the retail sector.
According to Jaume Portell, CEO and co-founder of Beabloo, a pioneer technology company developing solutions to make physical spaces more intelligent, “Millennials have created their own purchasing rules, making this the right time for stores to renew their sales strategy”.
In this sense, millennials prefer making their purchases through digital channels. In fact, millennial customers start the purchasing process online: according to a study conducted by Carat “Consumer Connection System”, 62% of millennials use the Internet as the main source of information when making purchasing decisions andindicate they need to make sure they have considered all possible options prior to deciding to make a purchase.
“With a generation so familiarized with technology, this is the time for physical stores to renew their sales strategy and embrace this digital model inside their physical spaces”, says Portell.
Satisfying millennial customers inside physical stores
The retail sector has a challenge: satisfying the new demands posed by millennials. According to Jaume Portell, “an audience that is less receptive to traditional advertisements must find in physical stores an innovative and digitized space adapted to their needs”.
In this context, companies must begin to take advantage of the tools offered by technology to listen to the customer. This way we will be able to optimize the time customers are interested in the services offered by the online store as well as deciding to visit and spend their time at the establishment.
“The key will be the shopping experience”, assures Portell. Customers want to feel unique and special when making a purchase and therefore, will value a positive and personalized shopping experience.
In terms of personalization, solutions that use Digital Signage or a Content management system (CMS) may become the best allies.
Using Intelligent Digital Signage, a business can accomplish far more than simply using a screen to replace traditional signage. Digital signage screens can be used to broadcast messages adapted to the demographics and interests of customers, thereby fostering loyalty. Hence, millennial customers will value being offered enhanced interactions by incorporating touch-screen elements and new experiences.