11 Sep, 2017

What Retailers Are Considered Millennial Brands?

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The Millennial audience has changed how retailers conduct business operations. This audience’s desire for digital and social aspects have shifted the retail landscape.

As a retailer, knowing how to target a Millennial can be extremely beneficial and can transform you into a Millennial brand.

So, what exactly is a Millennial brand?

To understand what a Millennial brand is, you must know who Millennials are. They are the digitally-driven consumer, the loyal consumer, the consumer that pays attention.

“Millennials have become the largest generation, lapping that of baby boomers. Pew Research defines millennials as those between the ages of 20 and 36 in 2017. The oldest of these consumers will be coming into their prime earning years and their influence will drive future buying trends.” The Motley Fool reports. 

Millennials focus on social media and appreciate brands who do the same.

If it’s one thing that stays consistent among the Millennial demographic, it’s that they want to connect to brands that they use. According to RetailDive, 70% of Millennials are willing to repost information about their favorite brands on social media.

Since Millennials repost brand content and want to feel connected, retailers can incorporate things like social media influencers into campaigns, because this younger audience is known to be influenced by peers, and celebrities.

According to a recent report conducted by Moosylvania, there are top retail brands who are targeting Millennials right. This report revealed insights-driven from surveys from consumers.

“Moosylvania found that electronics, gadgets, gaming, soft drinks, clothing and cars made up the top categories for the study, extending the reach of digitally-focused retailers, as well as apparel retailers.” RetailDive reports. 

Whether it’s incorporating social media, innovative digital tools, or just creative marketing campaigns, these brands have done it right.

Let’s take a look at the top Millennial brands.

Amazon

To no surprise, Amazon successfully targets Millennial customers pretty successfully. This e-commerce giant has a strong online force when it comes to its customers, and Millennials are paying attention to it.

Amazon has been reported to be the most relevant brand among this generation. This is mainly due to the convenience it offers its customers and the fact it is so dependable.

The Motley Fool revealed a trend found in the 2017 Brand Intimacy Report regarding Amazon.

“The report found that Amazon was the single most-trusted of all retail brands among customers of all ages, as they feel a strong emotional attachment. It was also the No. 1 retail brand for those aged 18 to 34 years old and the second-highest among all brands. 

So, what is Amazon doing right? Their wide range of products target this demographic successfully as well as features such as the Amazon mobile app, AmazonPrime, student discounts and a private label that produces tech products.

Target

Target was one of the top Millennial brands according to Moosylvania’s 2017 top 100 millennial brands report. Target has prioritized the Millennial generation for quite some time now, and they are succeeding.

Last year, Target CEO, Brian Cornell, said that the brand is following where Millennials go, such as college towns and more urban areas.

“According to Nielsen, millennials are a social generation with the majority now opting to live in mixed-use communities found in urban areas. Target recognized the migration of Millennials to urban areas and has now focused on opening locations in these communities.” CNBC reports.

Paying attention to where Millennials go is just the first step in reaching them. Target tailors each store depending on the area and the surrounding customers.

Target is choosing to focus on what their consumers need, and want to see in stores. This creates a customized and personalized customer experience, which drives brand loyalty.

Walmart

Walmart has focused its priorities on Millennial shoppers and chose to dig deeper into their purchasing patterns in order to revamp the bargains they offer.

Since Millennials are known to be driven by the value they receive from the product, Walmart has an upper hand while targeting them.

Walmart has incorporated an e-commerce factor to its stores through its mobile app, which is now the third most used app in retail. The app allows shoppers to stay on the go, and receive discount alerts, two things Millennials are driven to!

Want to learn about more retail trends? Attend Digital Retail Transformation Assembly.

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