Millennials, the rising generation, are quickly becoming the most desirable demographic among retailers and businesses. Why? This age group, those currently between 20 and 35, are projected to make up over 50 percent of the United States workforce by the year 2020. Even more, they are expected to control up to $24 trillion dollars globally. There is no doubt that millennials are obtaining more buying power than they have historically. As they are maturing, they are entering the times in their lives where big-ticket items (such as home mortgages and retirement planning) are becoming more important. If businesses want to market correctly in the coming years, they must market to Millennials. But what do Millennials want from businesses? According to recent TimeTrade studies, they want personalized and attentive service. They also want fast customer service. 61 percent of Millennials expect a prompt response from their healthcare providers. 71 percent of Millennials prefer an in-store shopping experience, where sales associates can help them efficiently make a purchase. 77 percent of Millennials are willing to schedule bank appointments. For more information on Millennial consumers, Millennial buying trends, and how they interact with businesses, read this TimeTrade infographic.
Infographic Source: http://blog.timetrade.com/2016/10/18/millennial-consumers-personalized-service/