In a survey of retail industry leaders, nearly 40 percent said the No. 1 concern they have about Millennials is their lack of loyalty. But we found that Millennials can be exceptionally loyal customers—provided they feel they’ve been treated right.
They demand a customer-centric shopping experience—one tailored to their wants and needs as valued customers. As one shopper put it, “You want to feel welcome when you go to the stores.” In describing the ideal shopping experience, a Millennial noted, “There is [something] about the product and its cost, but there’s also a big part about being treated like a valued customer.”
Many seek personalized, targeted promotions and discounts as the price for their loyalty. “Loyalty programs are big,” confirmed one interviewee.
We found that 95 percent or more of Millennials say they want their brands to court them actively, and coupons sent via email or mailed to their homes currently (or will in the future) have the most influence on them. Other channels, such as text messages, have an influence on just over half of all respondents in terms of their shopping behaviors.