We are already approaching the 5th month of 2016. Have you made out your Christmas list? Just kidding!
This months’ article focuses on “hot topics” for business in 2016. Awareness of the “needs” of various generations and how to approach these differing generations will influence your success in marketing. Following are just a few notable facts to consider regarding diverse groups in the marketplace.
“Americans born between 2001 and present day spend more than $44 billion of their own money and influence another $500 billion in sales.” How’s that for getting your attention? Generation Z “prefer shopping online at sites that also have physical locations. According to Advertising Age, they’re “true digital natives—the first generation born in a digital world. Businesses should act digitally native too, creating a seamless and strong overarching brand experience in-store, digital, and mobile.”
Even more staggering is the charcteristics of the Millennials, also known as Generation Y. Generation Y is made up America’s 83.1 million Millennials born between 1982 and 2000. Currently, the average age for getting married is 27 for women and 29 for men. Generation Y is currently in this age group. I mention this here because of how many businesses are touched by this opportunity of the $79 billion wedding industry. To name a few businesses serving the wedding industry… restaurants, florists, caterers, bakeries, tourism, hair and makeup stylists, retailers selling wedding attire, gifts, stationery, jewelry, and many more. Are you aware that 93 percent of those planning weddings use online resources to plan their weddings and 61 percent use their mobile phones for online access. Is your website mobile-friendly?
After the weddings come babies. “In 2014 there were 3,985,824 babies born in America, very close to 4 million, which marks an official baby boom year.” Along comes another generation to challenge our marketing!
I was surprised to read that if you want to reach Millennials, the best way is to email them. “Over 40 percent of Millennials say they prefer being contacted via email, rather than social media (5 percent) and text messages (2 percent).”
Because ecommerce is growing in leaps and bounds, free shipping is a bonus initiative to the shopper. Online shoppers will spend more to reach free shipping minimums. “Most Americans (69 percent) shop online at least once a month and 33 percent do so weekly.”
Parents are the biggest percentage of online shoppers. Fact, “the more kids parents have under age 18, the more they buy online. Every week, 40 percent of online shoppers with one child buy something online, 56 percent of parents with two kids and 66 percent with three children buy online.”
You want a slice of the “marketing” pie? Fact…30 percent of all ecommerce sales are expected to come from m-commerce, totaling $104.1 billion. “You can’t ignore mobile here either—59 percent of consumers use smartphone to research products before making a purchase and 65 percent use tablets.”
Here’s wishing you an amazing May, 2016. Check the Ontario Area Chamber website to keep up with current activities and opportunities to network. Any suggestions for website improvements are welcome.
Content of article taken from Rieva Lesonsky, CEO of GrowBiz Media.