Cue Connect recently shared with MMW the results from its latest research, Consumer Moments of Truth, which provides retailers with a glimpse into the “inner most workings of the millennial shopper’s minds.”
According to the data presented, Millennials now represent over 80 million shoppers, with a current shopping habit of almost $600 billion and an estimated growth to over $1.4 trillion by 2020 (according to Accenture).
“With this survey,” Cue Connect says, “the research provides deep insight into, and understanding of, what’s really going on in the minds of the fastest growing category of shoppers the world has ever seen, or what we’re calling ‘the truth.’ The result? Surprising at times.”
Cue Connect has identified the top five millennial shopping personas and the expectations and behaviors associated with each. What motivates them at point of purchase? How do you create brand loyalty with each persona? What tools are currently missing in the e-commerce space that can help retailers win their share of the $1.4 trillion pot that’s up for grabs?
“Retailers who want to win big are going to be forced to approach their brand from a place of empathy. Tying the consumer experience to emotion is to millennials what direct mail was to baby boomers. Millennials have to feel understood and are insatiable when it comes to immediacy for more personalized touchpoints and better service,” said Berkley Bowen, CEO of Cue Connect. “This research tells us that ‘surprise and delight’ is imperative. These insights will help retailers better understand, and therefore engage with, their most important – and arguably, smartest – shoppers today: millennials.”
Want to know more? Check out the visual below.