Retailers need to know more about the newest generation of shoppers, accordingly build real loyalty with Millennials. Research from global loyalty marketing agency, ICLP, finds that while shoppers over 30 years of age want to build a mutual relationship with their favorite brands, Millennials want brands to put them at the center of attention.
ICLP surveyed 500 UAE consumers and found that one in four Millennials wanted their favorite brands to spend more time really getting to know them. Around 28 percent said that they wanted a gift or message on their birthday, while 27 percent wanted them to remember their shopping, payment and delivery preferences.
This is in contrast to shoppers over 30, who cared less about retailers putting them first, and instead wanted to build a mutually beneficial relationship. ICLP’s research showed that shoppers aged 30 to 55 want their favorite brand to apologize quickly and put things right when there’s a problem (42 percent). Rather than instant gratification, 52 percent of these older shoppers said that they wanted a relationship that grows and improves as shopper and retailer get to know each other better.
The research also revealed what factors unite all UAE shoppers. One in three shoppers from both sides of the generation divide said that they wanted to feel valued by their favorite retailer, and not just be treated like any other consumer.
As part of the research, ICLP also asked Millennial shoppers what would make them spend more with their favorite retailer. The results demonstrated that:
Create Stronger Rewards Programmes: 77 percent of Millennials would buy more if they were rewarded better by their favorite retailer
Offer Consistent & Reliable Products/Services: 74 percent of Millennial shoppers said that they would spend more if products were more consistent and reliable
Treat Them Like Individuals: Of Millennial shoppers, 72 percent said that they would spend more with a retailer if they understood their individual needs and requirements better
Millennials Want Respect Too: 69 percent said that they would spend more if they were treated with more respect
“Look around any mall in Dubai or Abu Dhabi, and you’d be forgiven for thinking that shoppers are getting younger. Millennials are flocking to the hottest new retailers, but with ever more global brands opening outlets here in the UAE, there’s an ongoing battle to hold anyone’s attention. If brands aren’t careful and don’t build strong devoted relationships with their consumers, even seemingly loyal millennial shoppers will quickly abandon them when something new and exciting comes along,” said Sanjit Gill, General Manager, ICLP.