Do Millenials Care About Independent Businesses?
One of the more common challenges we hear from the dealers we work with is about attracting Millenial customers. The elusive Millenial, a discerning shopper with a smart phone glued to their palm 24/7, has grown up with the internet. They’re very loyal to brands that they feel share their values but not necessarily loyal to traditional retailers since they know that they can buy almost anything they want on Amazon (and get it in two days without paying for shipping). They also account for $600 billion in annual spending so it’s crucial that independent businesses understand how to attract these valuable customers. Consultants at Accenture surveyed 6,000 Millenials to better understand their shopping habits and the very important role that the internet plays in their Buyer’s Journey.
Why is “Shopping Local” Such a Big Deal?
In recent years, the “Shop Local” movement has been picking up steam. Even major corporations like American Express have been urging consumers to spend their money with local independent businesses instead of the massive chain stores invading the shopping plazas of suburbia. Why is everyone so worked up about where consumers choose to spend their money? We like this infographic from Custom Made and GHERGICH&Co. that illustrates what happens when $100 is spent at a local business and what happens when $100 goes to a big box retailer. You may want to check it out before you head to Walmart for your hot dogs and brews this weekend.
Shameless Plugs for our Favorites
Now that you understand a little more about the Millenial shopper and the importance of passing along your hard earned dollars to a hard working local business, let us point you in the direction of some very worthy New England shops. Check out some of the Winsper team’s favorite local businesses and remember to bookmark them on Yelp the next time you find yourself in one of our neighborhoods.
CHECK 'EM OUT