technology innovation and the rise of the millennial consumer
millennials are here, and brands must respond
We all knew this day would come. The millennials have arrived, and they’re deciding the fates of brands. Those who adapt to the unique needs and demands of millennials, often through technology innovations, forge ahead. The rest will be carried away by the current.
Don’t believe us?
It’s true millennials only make up 27% of the population, but consider this: They make up 40% of global consumers. Adapting to this new demographic is no small feat. millennials have many qualities assigned to them, like the need for instant gratification, a demand for work/life balance, and pickiness about where they spend their attention.
But the reason they’re picky is because they can be. They have millions of brands vying for their attention every day across a growing number of channels. Which brands do they notice first?
fashion brands innovate to reach millennials where it matters to them
The fashion category is producing innovations to the customer experience that seem in part created by science-fiction storytellers of the 20th century. Creative as they may be, what fuels these innovative ideas ultimately begins in one place: Insight into the consumer.
millennials want streamlined shopping experiences
Technology is a double-edged sword for millennials. While they’re able to complete, in minutes, what took previous generations hours, millennials are also expected to do more. As a result, technology innovations that help them optimize their time are big advantages in a highly competitive world.
Why browse endless in-store clothing racks when you can find one designed specifically for you in your hand? Apps like ScreenShop have made it real, using artificial intelligence to streamline the shopping experience for consumers. Simply take a screenshot of an outfit you like and the app will find similar ones for you online.
Clothing retailers like Zara, Topshop and Uniqlo are reimagining the shopping experience. Zara’s AR Studio Collection allows shoppers to point their phone cameras at everything from mannequins to empty store windows to see the clothing worn by models in augmented reality. Uniqlo and Topshop have introduced “magic mirrors” which allow shoppers to try on clothing — without trying it on.
millennials want customization
As much as millennials want to belong to a community, they also want to stand out within that community as unique individuals. Technology that makes individuality possible through innovation helps to make brands themselves stand out from the crowd.
Nike’s augmented reality technology, NIKEiD, let’s consumers project different styles and colours onto “blank slate” shoes in-store. Shoppers can also create their own customized shoes online using colours, custom text and graphics that they choose.
ZOZO uses 3D body scanning technology to custom-fit clothing to each individual consumer with the aim of making everyone “fit” in a world they envision as “Size-Free”. With the ZOZOSUIT and ZOZO app, consumers measure their exact body shape and size, then order clothes as uniquely shaped as they are.
digital transformation is key to brand success
Creating more engaging customer experiences has become a make or break situation in today’s marketplace. As a technology and insights company, we are keenly aware of the necessity for brands to dedicate resources to innovation.
But the catch is that it can’t be technology for technology’s sake. One of the key insights we’ve learned is that all decisions must be strategic and backed by insights drawn from data. Technology innovations need to simultaneously serve a specific desire of millennial shoppers and differentiate the brand.
Giving millennial customers what they want goes beyond great products and services. It’s as much (and sometimes more) about the shopping experience. Want to know more about how technology can transform your brand? Contact us and start a conversation.
about us
We are one part ad agency, one part consultancy, and one part technology company. We provide 360° solutions for brands committed to turning their business around. Our lab team is made up of a healthy mix of industry veterans, entrepreneurs, innovators. We are business analysts, strategic planners, media experts, brand experts, content creators, digital strategists, interactive programmers and software developers.
Visit theturnlab.com to learn more.
