Lots of changes and new challenges from consumers as we head into the new decade.. Winners will be innovative and recognize how technology and the internet is fundamentally changing how consumers interact with brands. While our top 10 list is specifically developed with Gen Y in mind, these same behaviors apply to most consumers.
1. Digital Strategy
- Gen Y assumes technology is available for everything
- Real Time Mentality: They want to contact you online and get an instant response (e.g. Live Help customer service chatting). Also, they will overwhelmingly choose instant digital delivery of content over shipped, when applicable. Packaging is less important than product (i.e. iTunes, Kindle)
- Seamless integration of online and offline retail
- Informational apps on iphones providing best deals, prices, locations, GPS e.g. Black Friday App, ebay deals, Walmart and Best Buy have free apps that feed you deal info also, Coupon Apps
- Instant Opinion Makers e.g. bloggers, texters, Twitterers, FBers, Yelpers
Online recommendations/ search
2. "It’s All About Me"
Expectations for Personalization stemming from how they use the internet e.g. Amazon tailors what you might like, aggregators e.g. Google Reader
Insourcing vs. outsourcing of call centers because consumers expect better service, better brand experience
3. Gender Blur
The digital age has yielded more products and services inherently geared towards unisex values and interests (Apple, Google, Facebook, YouTube) which is changing how Gen Y communicates, gathers information and perceives gender roles.
To keep in mind...
Guys are:
- taking on more household tasks
- shopping for their own grooming and fashion
- staying home with the kids
- more perceptive, insightful and talkative
Women are:
- more aggressive and assertive both in personal (dating) and professional and financial spheres
- make up more than one-third of the growth in real estate ownership since 1994
- more likely to do their own household repairs and renovations as well as purchase and install their own electronics and tech gadgets
- holding more college degrees (and advanced degrees) than men (33% vs. 26%)
4. Friends and Family
- Near-zero generation gap/ majority consider their parents their heroes
- Co-purchase decisions with parents/ not rebelling or rejecting parents
- Facebook establishing strong connections with family and friends
[CONTINUED...]
Check your balance, review recent transactions and pay your bill on the go.
0 Responses
Add to the conversation:
Open Forum Members
log in to commentGuests