Millennials are the target of many studies, especially when it comes to e-commerce. How do you ‘speak’ Millennial? It’s not how you might think…
Influencers, social media, delivery and everything in between – what do Millennials want? Do they expect too much? There are many questions that retailers are trying to figure out. There is one thing for sure, though. Millennials value trust.
In a new study by Fuse Multicultural Insider, the ‘me’ generation value unity more than diversity, and prefer to feel trust from a retailer rather than getting a ‘good deal’. The study found that 55 per cent of Millennials believe ‘diversity’ isn’t inclusive enough, and that ‘unity’ is twice as effective as the former.
“This study amplified the idea that this subset of adults is passionately seeking unity – and what brings us together – while defining diversity as couched in what sets us apart. This is something we have observed both with our audience and the millennial and younger colleagues, talent and partners with whom we work every day,” said Mark McIntire, the Hea of Marketing at Fuse Media.
When it comes to target marketing, 88 per cent of Millennials prefer when a brand appeals to more than one person. Brands such as Fenty and Nike, who showcase varying target markets and are often listed as the more inclusive brands of the decade. Eighty-five per cent of Millennials agrees that a brand should be ‘something that everyone can enjoy’, and should be based on interests and passions, rather than physical traits.
So, What Does This Mean?
Millennials aren’t the only generation who pull focus on the inclusivity of a brand. Gen Z, who are aged under 20, also find value in brands targeting towards a larger population. Seventy-nine per cent of those in the study said they prefer an ad to show diversity, with 78 per cent saying that it’s essential that the ads to be ‘representative of me’.
Connecting with a brand’s audience isn’t all about finding the right memes or including the hottest influencer – it’s about understanding who your customers are. Brands like Fenty source a myriad of models from different backgrounds and who represent its customers – regular people. Not everyone looks like a Victoria’s Secret model, so why only showcase those who do?
When a brand represents the customer well, it instantly uplifts the level of trust. According to the study, Millennials find brands more ‘trustworthy than social media influencers’ and ‘more influential than politicians’. “More so than government or celebrities, brands have the power to connect with these members of the emerging majority, if they do the work to understand their passions and values; demonstrate through action their commitment to helping them achieve their goals; and are transparent on their brand stance on issues,” explained Mr McIntire.