By showering millennials with funky mobile apps, loyalty programs and unique buying experiences, retailers do their best to attract digital-savvy, ultra- connected young clientele. But how to be smart about it and woo millennials without turning your back at baby boomers?

Contrary to baby boomers with sizeable disposable incomes, millennials have been largely ignored by retailers. Impacted from the start by an economic crisis, millennials’ spending power was not much to look at. Now, when this age group of consumers have finally come into their own, retailers must adapt their offering to both segments, focusing on similarities between the two categories of shoppers.

Seduce them with apps

A typical millennial is a smartphone-yielding individual with a penchant for mobile apps. But they are not the only ones using mobiles when shopping in-store. Baby boomers do it too, albeit less frequently. Message for retailers? Fun and easy-to-use apps will help you tap into millennials' spending power, while boosting their loyalty. When it comes to baby boomers, make sure that your online checkout and payment process flows smoothly and takes very little time.

Forget things, it is the experience that matters

Millennials have one very characteristic trait: they’d rather splash out on experiences (for example, holiday trips or outings) than spend money on material goods. Shoppers from other age groups follow in their steps. Retailers who already sell experiences must adapt them to the needs of both millennials and baby boomers. Others should try to re-invent the retail experience around the products that they sell to make it unique and special.

Tailoring social media offering

Born into social media, millennials use them instinctively in various life domains. Baby boomers are an entirely different story: they had to learn how to find their feet in a new interconnected world. Retailers have been using the potential of Snapchat which won the hearts of millennials to lure impulse shoppers, as demonstrated by a couple of fashionable retailers with shoppable snaps. Baby boomers prefer Facebook. Differences do not end there. Millennials are the generation driven by instant gratification, while baby boomers tend to be less spontaneous and more into planning, which makes them careful buyers. But there are similarities, too. Millennials may be more quick on the uptake when it comes to retail innovations such as pickup in-store, but baby boomers will also embrace such novel solutions as long as they help boost customer service.

Source: www.radial.com