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Millennials and the younger generation are more versed digitally than any other to meet the demands in times of COVID-19. However, they are also the ones that were hit hard financially by the pandemic. As per the Euromonitor study, the gross income of people around the age of 25 to 29 will decline by 49%.
The younger generations nowadays go through budget constraints which have led them to shift their spending patterns and shopping habits. A BCG report reveals that the younger generation is adapting to the new normal by turning towards grocery shopping instead of food take out. This rapid rise in grocery eCommerce shopping is happing in five months that would have taken five years instead.
Grocery eCommerce shopping is an example of how the eCommerce spending of the younger generation is changing rapidly. For marketers, this is the high time to rethink and reform promotional strategies to attract millennials and the younger generation.
Effects of COVID-19 on Younger Generation
To be effective in your marketing efforts, understand the motivational factors that guide young shoppers. Segmenting your audience based on generation is not enough. Marketers must personalize each sale and treat each consumer as an individual.
A survey by iterable reports that 83% of consumers are likely to buy products from brands they feel emotionally connected to. And the younger generation, especially Gen Z needs more empathy to convert. They need a more lifelike, seamless experience to skyrocket the human to human connection. Failing to utilize such motivational factors will result in insensitive communication.
Almost half of the younger consumers have been impacted in some or other ways by the pandemic. Thus, eCommerce marketers need to take utmost care while communicating with their younger audience. Think about why people are drawn to your brand?
Personalizing and empathizing on emails is not enough because they have been through the most chaotic time in their life. Supporting the younger consumers today would ensure that they come back to make purchases whenever they are ready for it.
Tips to Attract Younger Generation
Millennials and Gen Z require more attention and effort to convert than older generations. Due to fixed values and price points, loyalty is a more complex concept for them which your business can’t afford to lose. So, giving up on their finicky loyalty & failing in personalization may cost you customers & sales. Thus, here’re some tips we present to you that brands can utilize to attract the younger generation.
1. Support Well-Being of Consumers:
Many businesses out there say they care for the well-being of their consumers as well as their employees. However, their actions speak otherwise. If you want your consumers, especially younger ones to engage with your brand, find out their pain points regarding their well-being. Determine what needs have been changed.
Once you have identified the pain points of your younger audience, look for opportunities to better your offerings that help consumers in some way. Responding to your customers’ challenges while staying genuine with your offering is the best way to go.
Many companies have responded well with their products such as mattress manufacturers turned to offer seating solutions because of the long days of working from home offices.
2. Voice Your Brand Values:
The communication through emails or SMS between you and your younger consumers define the path to their loyalty. The young generation is driven by the deals & moral responsibilities they have. And brands can leverage their own ideals to champion the lifelong loyalty of millennials and Gen Z.
The young generation wants to be identified by their values and the product they purchase is also relatable to their identity. Don’t lean on the values just for the sack of identified as a Gen Z or millennial-friendly brand. This marketing gimmick will make them turn to brands that embody their values more authentically.
3. Offer Lifelike Digital Shopping Experience:
Gen Z is more prone to buy online. However, not all of them will do so as there is an option to shop from brick-mortar shops. This means that eCommerce brands have more pressure to offer lifelike experiences to shoppers logging in remotely. And for that, a strong digital presence is required for your business on the relevant channels that the younger generation use.
Go beyond the personalization efforts to effectively enable your brand to offer an omnichannel shopping experience. Also, supply chain issues and budget constraints could hinder the shopping experience of customers. This means that you may have to imbibe the low shipping or offering incentive strategies into your marketing efforts to reduce cart abandonment.
4. Deliver Value on Sold Product:
Providing value to your customers is the best kind of marketing you can do for your brand. And for targeting younger audiences, it becomes the most necessary part of your branding and marketing. For brands, it’s critical to educate their customers so that they can get value from their purchased items. For instance, tips on how to utilize the products consumers have purchased for different activities and purposes.
5. Keep in mind the budget constrains:
As we already mentioned that the younger generation has lost some part of their income. So, what you can do about it is to acknowledge it and offer products with small transaction value. Brands can recommend similar products at lower price points to address the needs of consumers. Also, avoid showing the pricier alternatives to Gen Z and millennials. By implementing such a strategy, you can expect to have an increased amount of orders.
Wrapping Up:
The lost income means abandoning brand products. The young generation is quick to find alternatives at smaller transaction value. However, there are ways you can focus on building loyalty. Show your concern for the well-being of consumers, be vocal about your brand value, offer a lifelike digital experience, deliver value on sold products, and keep the budget constraints in mind. Through these tips, you can drive younger audiences to your storefronts to gain the lifelong loyalty of customers.
Consult our eCommerce experts if you need more help with online marketing strategy reformation to attract the younger generation.
