In our last blog, we revealed the findings of a study that declared millennials as today’s biggest lovers of gift cards. Not only does our younger generation enjoy buying gift cards as gifts for their loved ones, but they also enjoy receiving gift cards as gifts themselves. It should probably go without saying that most young people enjoy shopping. So what are some of the best ways to encourage them to shop at your store?
Here are three:
1. Make sure that your business has a strong online presence. In today’s world, the young shopper is a savvy one. He/she knows where to find the best bargains, deals and discounts. And that’s because he/she goes online to browse before items before visiting physical store locations. Millennials especially enjoy going online using their smartphones. So, not only is it important to have a strong online presence, it’s integral that your company website is mobile-friendly.
On Entrepreneur.com, Peter Gasca confirms this by reporting on the findings of a 2015 Blackhawk Engagement Solutions survey. “No surprise, but smartphones are a dominant method of connection to the web for millennials, with 89 percent of them using the devices to connect, vs. 75 percent who use laptops, 45 percent tablets and 37 percent desktop computers,” he informs, “Retailers therefore need to have a mobile first strategy if they want to stay relevant with this generation.”
2. Make sure that your products and services are competitively priced. As mentioned earlier, millennials know a good deal when they see one. And this means that they also know when they are being overcharged. As a result, the modern day shopper from our younger generation is arguably today’s best bargain hunter. Needless to say, to encourage millennials to shop at your store, you’ll have to offer competitive prices.
“When it comes to price sensitivity, 95 percent of respondents said they have more or the same sensitivity to price as last year,” reports Gasca, “Additionally, price has the greatest influence on millennials\’ purchase decisions above all other factors, including quality, brand, store and availability. This is surprising because a growing economy or shopper segment typically leads to less sensitivity to price, but millennials clearly are bucking that trend.”
3. Make sure you offer online shopping as an option. Is there any surprise that our younger generation likes to shop online? To significantly increase your sales among millennials, you’ll need to ensure that they can make purchases via your company website. Gasca notes that you don’t even have to ship the items you sell online to encourage sales. Millennials, it seems, are intrigued by “buy online, pick up in store” options.
“An impressive 88 percent of millennials say they would consider buying online and picking up in store to save $10 on a $50 item,” he reveals, “For retailers who ship, offering a discount to pick up in store not only creates perceived value but also saves shipping and handling cost and drives traffic to the store.”
At Canadian POS Corporation, we offer Canadian business owners opportunities to turn their company websites into online stores. Our secure e-commerce solution enables you to easily and securely accept and process all credit cards from your website. For more information on how to get started, please don’t hesitate to give us a call at 1-877-748-2884. You may also email us at info@localhost.