Digital Commerce – Are You Prepared for the New Wave of Spenders?
Digital commerce of all forms is still growing. And most businesses would be wise to capitalize on the opportunity this area still provides (I may be a bit biased here). Ecommerce is still on the rise. Mobile, or mcommerce, is increasing at a staggering rate and Social Commerce, aka scommerce, is something every business needs to be paying attention to. Just as important as the different forms of commerce is the mind set of those behind the dollar, euro, yen, pound, alabaster shells or other form of agreeable tender.
As such the term millennial, or the swarms of Generation Y’ers, should not be new to you if you’re operating in the digital space and engaging in social media at any level. As the millennials continue to get older, graduate college, obtain gainful employment and ascend from a weekly allowance to weekly salary, businesses have to be ready to serve these new spenders.
If you’re in business and have, or will have, customers who were born after the year 1982 their mindset should be a dominant development factor in any expansion, as it relates to interacting with your brand and eventually your sales. Here are some questions to ask about your business to get you on the right track:
1. Do I currently or will I have millennials as customers?
2. What am I doing to attract millennials to buy from me?
3. Could my digital commerce presence be perceived as old and stale?
Here is a tip: For the next week ask millenials (those under 28 years old) you encounter what influences them most when they are buying something. You will be shocked at their answers.
Come back next week and we’ll be talking about the difference between Push and Pull Marketing, and how you to effectively implement a results oriented millennial strategy to your online campaign.