Is next-gen consumerism among us? With millennials taking over the world politically, economically and socially, the way we shop is changing too with the birth of the new consumer.
It hasn’t been long since we realized American malls and shopping centers have advanced to the point of no return. But retail overall may be changing too. With the millennials and the new consumer, there are vastly different priorities now.
If your brand just entered the court to play the game of competitive business, there are several points to keep in mind to win. The age of the new shopper is a tricky one, but upon my personal shopping experiences, given I’m quite the shopper, good sales come from high-quality products and ingenious packaging.
It’s not every day you actually need what you buy, but as we constantly surge in a state of flux, acquiring a solid checklist of do’s and don’ts of the retail world is gold.
One of the more important tools to have on file for your brand or business is the protocol of transparency. Transparency seems to be the keyword these days, especially if you’re in the commerce world. Transparency is the clarity of practices, procedures and policy’s visible to everyone involved. This could mean honesty from designers to reputable loyalty from customers. Transparency could even mean guarantee, since we, as the consumer, will be fully informed of all rules and regulations before we commit.
Another etiquette to follow is authenticity. Of course, this means originality with the expulsion of counterfeit products, but businesses with a principled track record persevere. Brands like Tiffany & Co. or Macy’s have a failsafe system due to their perennial reputation. This perk usually emerges with time, and can’t be achieved overnight.
Does your brand have what others don’t? Can you provide when others can’t? Regardless, trust is acquired with time.
"Sustainability will be at the centre of innovation in the fashion industry in 2018."
— CH∆NGE Clothing Co. (@ClothingChanged) January 4, 2018
Participate in the Fair Trade. The Fair Trade ensures sustainable products benefit to reprocess. We know all too well the damages made from plastic, fumes from factory mills, and so on and so forth. The Fair Trade also ensures labor integrity and sustainable production means.
Another reality is the curse of the click. Consumers in the digital age don’t want to get up to buy milk anymore. And it’s not just milk, its everything. With online businesses and services, shoppers can buy everything at a whim, with just a click. It’s almost as if it’s impulsive.
Although excessive digitizing can be noxious, an online presence is imperative. If your business is caught without it, you might actually face aversion instead.
The marketing team might have to work a bit harder on this one. The next pact to follow is the accordance of goodwill for the consumer. If I came to your store to buy shampoo, you will no longer be selling me just a shampoo, but an experience that will lead to the betterment of my life. And yes, this rule will gradually apply to all products and services. Consumers want to know how your brand will literally change their lives for the best.
Some things never change and that is the discount. Yes, this one is a no-brainer, but be careful how you price cut. Excessive price cutting will killjoy your brand’s prestige. But solve the formula by creating urgency with those flash sales that keep the customer running back for more.
Time and experience. With the click of a button, we already have everything we need. The age old saying holds true to this day; time is money. A brand that utilizes their time in lightning fast speed for the consumer is a keeper. But don’t neglect the experience along the way. A brand’s name will often be revisited and remembered only by a memorable experience.
And last, but not least is the truth that sharing is caring. Brands will connect consumers with resources and bridge the gap between proprietorship and purchase. Now the customer has the power to call the shots on their own terms. This enables personalization of all products and services to suit the demands of the consumer specifically.