Learn more about the latest mobile marketing and trends for big data technology in the retail industry.
Millennials spend $600 billion each year in the US alone. This number is expected to reach $1.4 trillion by the year 2020 and will account for nearly 30 percent of total retail sales. These spending habits should classify millennials as a target demographic for retail marketers.
Growing up in the digital age, millennials are accustomed to having a wealth of knowledge at their fingertips. As a result, they demand much more from the brands they support. While 46% of consumers admit to using their smartphone to look up product information in-store, this number jumps to 56% for millennials, according to Label Insight’s 2017 Shopper Trends Study. Millennials are inclined to research a product prior to purchasing, learning about a brand’s sustainability efforts or social consciousness. Transparency on matters like these will help gain millennials’ trust, and ultimately their business.
In the food industry, informed lifestyle choices and health needs heavily influence purchasing decisions. These may include gluten-free, pesticide-free, organic, cruelty-free, free-range, non-GMO, and vegan diets. According to Nielsen, more than half of consumers believe that "the absence of undesirable ingredients is more important than the inclusion of beneficial ones." Millennials are increasingly digitally literate, and QR codes may give food distributors the ideal means to communicate and engage with consumers, while providing them with the additional information they desire.
In the clothing industry, the latest driver in consumer decision making has been sustainability. Buyers want additional information regarding the sourcing of materials and ethical labor practices before choosing to purchase. Brands can share their story and core values easily and effectively using QR codes. QR codes can aid in bridging the gap between offline and online conversation, and digitally connect the brand to the consumer.
Millennial retail spending is in the billions and rising. There is no better way to capitalize on this market than by digitally engaging customers and building brand loyalty with QR codes. Scanbuy is the leading SmartLabel® QR Code service provider that helps brands deliver the transparency consumers are demanding.
Ready to start digitally engaging with your consumers? We’d love to help you get started, contact Scanbuy today at firstname.lastname@example.org.