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Retail trends and myths: Millennials and social media—Video

Accenture interviews millennial shoppers and confirms recent survey results on retail trends and the influence of social media.

Retail Trends and Myths: Millennials and Social Media—Video

Millennials use social media to connect with their friends and family. They are continuously on-the-go, on their smartphones and sharing tips with friends on cool stuff they’ve found and deals they’ve received. For them, the relationship with retailers on social networks is purely transactional.

Merely having a presence on social media sites is not enough. So what must retailers do to win over millennial customers? To use social media in retail successfully, retailers need to embed themselves in conversations carefully and offer relevant deals and discounts that influence customers’ buying behavior

Watch this video to see how Accenture busts the myth about millennial shoppers and how they view retailers as their “friends” on social media.Insert Content

Retail Research: Insights into Millennial Shopping Behavior Patterns

Millennial Myth #1: It’s all About Online Shopping

Millennial Myth #2: Loyalty is Lost
Download Video Transcript [PDF, 146 KB] 

Millennial Myth #3: Being “Liked” on Facebook Means Millennials “Actually Like You”

Download Video Transcript [PDF, 147 KB]

Accenture research sheds light on millennial shopping behavior and retail trends that are impacting this savvy audience.

As part of this research, we discovered that millennials are much like other shoppers—just a whole lot more connected. They have come to expect a seamless shopping experience and won’t hang around if they don’t find it. For retailers, the message is clear: Give them what they want, when they want it or risk losing them.

Millennials, those born between 1980 and 2000, make up a trillion-dollar demographic and are transforming shopping for everyone. If retailers want to give millennials the seamless experience they have come to expect, they must radically change the way they operate.

For more information, you may also view the Accenture Outlook article, "Who are the Millennial shoppers? And what do they really want?"

Watch the video series below to find out what matters to the millennial shoppers and the experience they seek.

Retail Trends and Myths: Millennials Prefer Online Shopping—Video

Accenture interviews millennial shoppers and confirms recent survey results on retail trends and their preference for online versus in-store shopping.

Millennial shoppers are not just going online to make their purchases and skipping the in-store experience. This generation is using the online channel to become smarter, better-informed customers, but they still want to see what they are buying, ask questions and try things on.

However, they want an integrated, seamless shopping experience. They expect to find the same merchandise, same pricing, same discounts whether in-store, online or on their mobile device.

Watch this video to see how Accenture busts the myth around online shopping being the preferred option for the millennial customer.

Retail Trends and Myths: Millennials and Customer Loyalty—Video

Accenture interviews millennial shoppers and confirms recent survey results on retail trends and the impact of customer service on loyalty toward retailers.

Winning over millennial shoppers and retaining their loyalty can be hard but not impossible. The answer lies in offering excellent customer service in addition to loyalty programs.

While they do want something in exchange for their loyalty in the form of reward points, gift cards or discounts, they also want a personalized experience, with targeted promotions through e-mail, text or social media that relate to products they buy.

Watch this video to see how Accenture busts the myth about millennial shoppers and their loyalty toward retailers.

Seamless Retail: Customer Expectations—Video

Today's shoppers want an integrated, seamless shopping experience anywhere, anytime.

Shoppers have become smarter and savvier in the way they shop and connect with the retailers. Armed with the power of digital, they demand the same merchandise, pricing and discounts whether in-store, online or through their mobile device. Additionally, they want a personalized experience, with targeted promotions through e-mail, text or social media that relate to products they buy.

Watch the video as customers share what is important for them and their expectations regarding online, in-store, mobile and social media integration.