By CJ Jordan
Millennials. Generation Y. Generation Text. Whatever you want to call them, they seem to be bucking and starting trends all across the US. For years, it was almost understood that most young adults (18-34), especially those with families, would leave the urban scene for the ‘burbs and raise their kids there. Well, according to a recent study done by the American Public Transportation Association, that may not be the case anymore. The study shows that the vast majority of Millennials either live in the city (56 percent), or in a close-in suburb (34 percent). Only 10 percent live in far suburbs. “And for those who think this is just a passing fad, they need to think again.”
So you know where Millennials are living, but maybe you aren’t sure how to reach them or access them? So they say that the way to a man’s heart is through his stomach...well, the way to a millennials heart is through their phone. With over 92% of Millennials having a smartphone, digital marketing should be your primary focus. In the car, on the couch, lying in bed, we (yes, I include myself in this) are always on our phones. As a whole, Millennials download more apps, spend more time browsing the internet and accessing social media than any other generation. They are sharing their actions, opinions and experiences and influencing their peers and networks on a regular basis through multiple platforms. This means that downtown businesses, restaurants and entertainment venues have a built-in target audience right in their metaphorical backyard.
Millennials are not only a key target because of the influence they provide, they are also spending. They currently spend $600 billion a year on retail and by 2020, that number is expected to reach $1.4 trillion, or 30 percent of all retail sales, according to a recent study.
Downtown Partnerships and Economic Development Groups have an incredible opportunity to engage their community through digital marketing and reach a generation known for its impulsiveness. Well-designed digital marketing campaigns can influence brand loyalty and help turn some of that mobile traffic in to foot traffic.
Our platform, ShopKit, is built specifically for this reason. For more information, please contact us and ask how we can help reach your community.