Millennials. When we hear that word we generally think they have their noses in their smart phones 24/7. Turns out we’re wrong! While they are more comfortable in a digital environment than are other age groups, they are surprisingly interested in things such as direct mail, life experiences beyond electronics, and buying local.
According to an infographic by CUBE, by 2020 millennials will be responsible for 30% of retail sales in the US – equal to $1.4 trillion in spending. They are not as materialistic as we want to think they are. They care about quality and are willing to spend more for fewer items. Minimalism is in the air! 78% of millennials prefer to spend money on life experiences over buying even desirable objects.
More than 50% of millennials try to buy products from companies that support the causes they care about. They like to support local businesses and care about where things come from. They believe in ‘radical transparency’ – wanting to know factory working conditions, actual costs, and markups.
Millennials want to be able to buy things quickly and easily – so they like in-app purchases and online coupons. But what they really like is paper! 84% of millennials report looking through their mail regularly. 64% say they prefer it to emails. And they like to share information with their friends – and are more likely than any other demographic to share what they get in the mail, which makes them a perfect target for giveaways.
They read…on paper! Millennials are responsible for 31% of magazine readership and 20% of newspapers. 50% report that they ignore digital ads while only 15% say they ignore direct mail. The response rates are starkly different, with direct mail having a 5.3% response rate and digital having .9%.
Millennials respond to direct mail – especially if there are incentives! 57% liked buy one get one free offers, 55% responded to a gift card, 51% responded to a percentage off purchase, 32% responded to lowest price for the day, 31% responded to free shipping, and 28% responded to a birthday offer. But they want to be able to respond quickly to those offers!
So, how do you attract more millennials? Integrate digital into your direct mail pieces! Add QR codes so they can quickly scan it and make a purchase, add links to videos and social media. Use fun enhancements like textured paper, peel off surprises, scratch & sniff – anything to make your message more engaging. Finally, make them feel good! Millennials want to save the world – make them feel they are!