Last week we looked at businesses that found success by targeting women. GbBIS continues its series by looking at companies that are adjusting their marketing strategies to attract a very sought-after demographic group: Millennials.
Check in next week to see which businesses we will be highlighting in our series
Who Are Millennials?
Millennials are that finicky demographic segment of 13-30 year-olds. This demographic segment is characterized by their need for immediate satisfaction, as well as their distrust of typical marketing mediums. Studies show that most Millennials trust their Facebook friends more than corporate advertisements. They are brand loyal but value, above all else, speed and convenience.
Macy’s Millennial Campaign
In March, Macy’s restructured its merchandise team to focus on Millennial shoppers and plans to make other major changes in the next three years to further rope them in. The changes range from infusing tablets and other technology into the shopping experience to changing displays more frequently. Among its new clothing lines, Macy’s is offering Marilyn Monroe, Madonna, and runway inspired apparel.
Typical Millennial shoopers “shop everywhere, and have access to everything,” according to Molly Langenstein, executive vice-president and general merchandise manager for millennials and new business development at Macy’s. “That is the challenge for everyone going after the Millennials.”
A Fast-Growing Demographic Segment
Experts say that by the year 2030, Millennials will outnumber Baby-Boomers—who are currently the most lucrative demographic segment. It is essential for businesses to devise some strategy for targeting Millennials in the future.
Whether your business targets Millennials, Baby-Boomers, or women, an important part of any target marketing strategy is locating your target market. And that begins with having the right data. GbBIS offers the highest quality, most up-to-date demographic data for any area in the US and Canada. Use demographic data to find customers in your area, create customer profiles, and much more.
Contact GbBIS today and find how demographic data can help your business