Millennial shoppers contribute a staggering $1.3 trillion to annual consumer spending. Millennials are characterized by their reliance on the internet, mobile technology, crowdsourcing, and instant gratification, yet, they are not impulsive shoppers. Having grown up in the digital age and the most recent U.S. recession, Millennials appreciate expediency however, they also want to get the best deal.
Mobile offers are emerging as the platform that best satisfies the expectations of the powerful millennial population, providing flexibility, highly targeted and relevant content and social sharing capabilities. Mobile coupons are being used by leading brands and retailers to cater to the Millennials very effectively, and Koupon Media can tell you how and why it’s being done.
Despite the fact that Millennials devote nearly 8 hours per day online according to Global Web Index data, and spend a great deal of time researching consumer products, Millennials will often wait to pull the trigger on making a purchase until they visit a retail store. Mobile offers are extremely effective in closing a sale when they are delivered to Millennials’ smartphones in an email, text or via app when they are in-store, in real time.
A relevant offer is almost always welcome to the commonly frugal Millennial shopper, and they are likely to be more loyal to brands that they perceive as being in tune with their personal preferences and needs. Using targeting technology, mobile offers allow brands to promote products commonly purchased by Millennials. Energy drinks, for example, are a staple for over a third of 18-24 year-olds, and Koupon Media typically sees 10% redemption rates for energy drink offer campaigns targeted at the demographic.
It’s important to note that while Millennials love social media and crowdsourcing, they tend to shun the group mentality in favor of experiences, goods and services that they feel are unique. They desire to personally discover a deal designed just for them rather than be inundated by mass marketing and brand communications. 90% of Millennials will share information about a good bargain online, and particularly if they feel they uncovered a great deal or received a tailored shopping experience.
Koupon Media’s tools make it easy to execute limited time offers and redemption caps during mobile offer campaigns as well as to share deals on social media sites—43% of Millennials will use social media to recirculate information on an offer they’ve discovered. Flexibility to limit or extend an offer makes it easy for brands and to incentivize a quick sale and to simply manage the scale of their campaigns. Koupon Media is helping brands to expertly engage Millennials. To learn more about Koupon Media’s experience with Millennials, download our case study now.