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The Characterization of the Millennials and Their Buying Behaviour…
The Characterization of the Millennials and Their Buying Behaviour
Borned between 1980 and 2000
Attributes
Trustworthy, tolerant, individualistic, academically prepared, open/minded, social innovative, energetic, ambitious, reliable, motivated and intelligent
Characteristics
Tech in daily life, connectivity, ability on language
Consumer behaviour
Spend more
Less loyalty
earned with trust
last for 6 to 8 months
Look for products
Personality, lifestyle, social and community values
Likely to consume for status and sense of rebellion
Brands as self expression
Interests more on counterfeits that brands
Cool consumption
Want to engage with products and services from a strong brand
Fast consumer
Make decisions at the moment
Most purchases
clothing, shoes jewellery, sport equipment, entertainment, health and beauty and food
Connectivity
Actively participate in marketing research on the use of a variety of media, blgs email mobile connection, utilities
Virtual life. Shopping, socializing
Sensitive to electronic WOM
Value credibility
Likely to download useful app from brands
Require uniqueness and self determination of their purchasing power
Likely to spend money on experiences
Demand of hotels and travels
Attracted to companies with strong values, social ethics, non/hierarchical environments
Messages must be fast, direct and honest
Dislike being an ad target
Offline ad media and banners are ok
Arellano consumer behaviour model (2014)
Influence variable
. Social aspects economic, geographical, individual characteristics
Processing variable
Psychological processes. Feelings, perceptions, motivation, attitudes
Consumer behaviour
Discussion
Immediate gratification and personalization
Global social consciousness
Loyalty with a brand exists if its linked to identity but last 8months
Relational marketing strategies
Internal psychological aspects
attitude, perception, motivation, feelings, values and lifestyle