Consumer shopping behaviour has shifted drastically. The behaviour of the older generation and the new generation is different. This difference at times also affects the marketing strategies. A new generation of customers can also be called millennials. These people are aged 18-35. Millennial customers are a way different from the older generation customers. A few of the differences have been given below.
The difference in the purchase decision process
The way an older customer would decide while buying a product differs from a millennial customer. The difference is because of the elements that influence both of their decisions. Like, when a senior citizen needs to buy something, they shall first rely on the TV commercial, and then, in a store, they would rely more on the sales persons, instead of making decisions of their own. While millennial is highly informed about the product they need to buy before heading towards the store. This is because of the environment they grew up in. Millennials have grown up in informative surroundings and these surroundings have made them careful shoppers. They are conscious of the price and do not rely on the seller’s speech blindly as the elders do. They do not mind spending more time researching a product online and from customer reviews. While buying an oval lab diamond engagement ring a millennial will see its reviews first.
Millennials are more visual than the older generation of citizens
The people of the older generation usually prefer informational materials, but the visual elements do not matter much to them. They search for reliable and rich text-based materials that are helpful and support them to make decisions. Very differently, millennials want visuals. They do not get influenced by the type of content, whether it’s entertaining or educational. They need more than a text. According to research, content that has images or videos has much more views from the millennials than text-based information. This is why visual networks like Instagram and Snapchat are predominantly more popular among the generation.
Millennials deal differently with advertising
The way of dealing with advertisements for millennials is different from that of their parents. The reason behind this difference is that, they are much more informed than their parents. A millennial will likely skip an ad or change a channel when an ad is being displayed, but the old generation people tend to see the ad to gather information about anything. Skipping and blocking ads online is a common practice among the younger generation. Hence it is clear that traditional marketing is almost dying because of the young generation. The major challenge of the companies is to understand the behaviour of the new generation and adopt new marketing strategies that would reach them effectively.
Millennials want value
In short, the millennials want the value of a product and do not want to be manipulated. How can a company create value for the young generation? For this, they need to create a brand that shall get connected to the millennials emotionally and can be experienced by them. This generation wants an experience that can be shared. They not only want a good cup of coffee, but they also need a unique environment that shall allow them to get an experience of the brand. Hatton garden engagement rings provide an exact value for their money.
Overall, there is a huge difference in the behaviour of the old and new generations. The new generation is tougher than the old generation and much more aware than their seniors.