Last year, consumers (mostly Millennials) spent almost $2 billion in the U.S. alone on digital items (for use in online games and virtual worlds). Many marketers are largely unaware of the digital lifestyles in which many Millennials are immersed. To succeed with younger consumers, they need to 'fish where the fish are.'
The market has been undergoing a seismic shift as the money is transferred from the 'baby-boomers' to the 'Millennials'. You could say Millennials are 'Digital Natives' as they are from the videogame era, spend $170 billion per year, and move back and forth between physical and online environments. They want all their shopping experiences to resemble the videogame formats, and thus their relationships with brands are different and learn differently than their older brothers and sisters. But just because Millennials are not much fond of the traditional approaches to build brand and store loyalty, doesn't mean that they aren't interested in what you propose to sell. Thus, the question is – how can organizations adapt their marketing strategies to connect with these 'always on' shoppers?
This session by expert speaker Michael R. Solomon, Ph.D. will explain some important ways that Millennials think about products and stores. Michael will review emerging technology solutions that sync with young consumers' 'always on' lifestyles. You will also understand the digital assets that connect to Millennials. There are solutions that allow both retailers and manufacturers to interact with Millennials, especially if they adapt principles of 'gamification' and other important elements of social media to their messaging and merchandising strategies. Going further, you will have a better understanding of how to design both physical and digital shopping environments to capture the hearts and wallets of Millennials.
Who Should Attend
Michael R. Solomon Ph.D
Michael R. Solomon, Ph.D. is Professor of Marketing and Director of the Center for Consumer Research in the Haub School of Business at Saint Joseph's University in Philadelphia. He earned B.A. degrees in Psychology and Sociology magna cum laude at Brandeis University in 1977, and a Ph.D. in Social Psychology at The Uni... More info