Why attracting millennials requires data analytics

first_img 34SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr Millennials are living in a vastly different world than their Baby Boomer parents. They live in a time in which a phone isn’t just a piece of plastic used for making calls, it’s now “smart” and acts as an extension of oneself. A time in which “going shopping” or “depositing a check” no longer requires you to leave home. We are living in a world dominated by the rise of online/mobile and the demise of brick-and-mortar. This changing consumer landscape is being primarily driven by Millennials as they demand more personalized experiences.Defining Millennials – Millennials (also known as the Millennial Generation or Generation Y) are the demographic cohort following Generation X. There are no precise dates when the generation starts and ends. Researchers and commentators use birth years ranging from the early 1980s to the early 2000s.Millennial’s Love for Data/AnalyticsMillennials were raised in a time of unprecedented mobility and unparalleled access to information. They expect retailers to know what they want before they even know what they want. This expectation has been spurred by companies like Amazon. Amazon does a terrific job of customizing the entire consumer experience from the initial stages of attracting customers to post-purchase marketing, and it does this through Data Analytics.Data/Analytics enables retailers such as Amazon to build deep relationships with their customers by getting to “know” them. You will never have physical interactions with Amazon but the data they collect on you allows them to understand a considerable amount about you. Every time you interact with Amazon (by clicking on the page), they get to know you better which gives this retailing innovator the power to make your shopping experience more convenient and enjoyable. continue reading »last_img