All eyes in retail are on Millennials these days — and for good reason. This demographic is coming into its own, particularly when it comes to spending power. It’s important for suppliers and retailers alike to understand how this age group shops.
Millennials Use Retail Apps Before and After Shopping
If you only focus on sales to Millennials when they enter the store, you’ve missed the boat. This age group does its research, not only on the product itself, but on prices and in-store availability. Store apps help Millennials check out prices as well as whether the product is available at a local brick-and-mortar store.
“The Walmart app is the third most used retail app, and they’re being smart by creating an easy and simple way for Millennials or Gen Xers to engage in their pre-shopping and shopping environment. Thinking about how a device is used in-store or in our pre-shop experience helps us connect with Millennials.”
Supplier Sales Lessons
What can suppliers learn about Millennial use of retailer apps? One thing is clear: To maximize sales, you must keep your product on shelf — consistently. When Millennial customers encounter an out-of-stock item, they walk out of the store without buying it. Worse yet, that consumer may never even go to the store if the app shows your product is out of stock.
Your retail partners aren’t going to be happy if customers are walking out the door empty-handed (or aren’t coming in at all), and you are going to be even more unhappy if a frustrated customer buys your competitor’s product instead. Now is the time to ensure that your brand is consistently on store shelves.
It’s also important to make sure that your brand information is up-to-date on retailers’ websites and apps.
Remember, your first impression is in the pre-shopping phases, so connect with the Millennial consumer outside online and physical retail settings.