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Millennials now make up the majority of the workforce. As most are settling into the first few years of their jobs, Millennials are more aware of the amount of money they are spending. The Millennial population is projected to spend $1.4 trillion shopping each year by 2020. The question lies, how will companies attract the Millennial Buyer during and after COVID-19?
Because technology has transformed into the superior way of selling throughout the last few years, we are seeing more and more consumers purchase solely through digital platforms. Millennials will soon become the largest living generation in the US and that means now is the time for companies to prioritize stronger sales strategies and memorable experiences tailored to this generation. Seventy-four percent of Millennials reported that they would switch retailers or brands if they have a negative experience. For companies to keep up, they will have to give these buyers a more than satisfactory customer experience online.Millennials prefer experience over everything.
Even though data shows that they primarily use technology to shop, Millennials continue to thrive off real-life experiences. As COVID-19 hit the nation, those real-life experiences were put to a halt. Making purchases through digital platforms shifted from a convenience to the new normal. Consumers began adapting more to digital solutions and contactless channels to purchase goods and services they hadn’t purchased online before. Digital platforms must provide outstanding experiences if they want to attract this experience-driven generation. These consumers will continue to crave positive online experiences long after the COVID world slows down.
Millennial Buyers will continue to change in the Post-COVID world.
As we approach a post COVID world, buyers have certainly evolved. Millennials in particular have adapted quickly to the changes forced upon them by quarantines and lockdowns. This has forced more acceptance for certain purchases that were not done online previously. Buying a car without ever test driving it while working with a sales associate over a Zoom is just one example. But to truly excel in this new age, companies must embrace in their online experiences, and through an investment in a visual platform. A visual commerce platform will provide companies with the ability for business to thrive digitally, providing effective visual selling experiences and earning the most out of their ROVI in this contactless world.
Investing in a Visual Platform will provide immediate benefits.
As buyers become more confident in purchasing online they will require more sophisticated tools to facilitate these purchases. Where platforms like Shopify have added speed to the online cart experience, so does the ATLATL Visual platform to the product selection and configuration process. Being able to visualize products in three dimensions, seeing customization options and configuring to your own specifications, and then being able to project all of this into your own space through augmented reality. This is the power of Visual. And from day one of applying this to your digital buyer’s journey, their experience will immediately improve. Faster sales cycles, higher purchase rates, higher value purchases, and less returns are just a few of the benefits you’ll see in return.