Millennials are entering an important life stage for brands, as this segment of the population is starting to build wealth while driving potential sales growth in financial products and services.
Millennial brand engagement, like all things, is going through a transformation as new technologies emerge that can either further leverage their current behaviours or instil new ways of engaging with brands. Shikatani Lacroix initiated a consumer study in the U.S. to understand how new immersive technologies such as augmented reality apps, VR goggles and computer video conferencing are influencing how Millennials make their purchase decisions, and to determine the emerging trends marketers need to take into consideration.
The study was conducted among Millennials, Baby Boomers and Generation X to determine if different behaviours exist between each generation. A total of 1,100 consumers participated in the online study in the month of August. The following outlines the key findings and implications to how marketers should consider engaging Millennials.