millennials: shifting the workplace & the total retail experience

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Dennis Devlin is currently CEO of Consumer Clarity, which he founded in 2009. Consumer Clarity is a consumer marketing consultancy specializing in millennial consumer and shopper insights and strategy development for consumer product manufacturers, consumer service providers and retailers. Dennis has been involved in insights and strategy work for more than 25 years, with the last 7 years focused on the millennial consumer and shopper.

Dennis was awarded the Entrepreneur of the Year award by the Legacy Center in 2011-2012, celebrating entrepreneurial success and was very recently name the 2016 National Chapter Volunteer of the Year for the American Marketing Association.

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MILLENNIALS

Shifting the Workplace & the Total Retail Experience

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PLAYMillennials: Are they really like this?

Edited video intro (Youve Gotta Love Millennials):Mp4: Click to DownloadVimeo (Password: TEMPOE): https://vimeo.com/166511438YouTubeLink: https://www.youtube.com/watch?v=gXhNdSMZoOU&feature=youtu.be

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PLAYMillennials: Are they really like this?

Edited video intro (Youve Gotta Love Millennials):Mp4: Click to DownloadVimeo (Password: TEMPOE): https://vimeo.com/166511438YouTubeLink: https://www.youtube.com/watch?v=gXhNdSMZoOU&feature=youtu.be

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MILLENNIALS:Shifting the Workplace & the Total Retail Experience

MILLENNIALS IMPACT has been described IN TERMS OF A TIDAL WAVE. WHILE THEIR IMPACT IS ALREADY BEING FELT WE ARE ONLY JUST BEGINNING TO REALIZE the FULL EFFECT of this generation .Keynote 5

What You Can Expect To Learn:Realize impact & begin to understand themEffective interaction with millennial customers & employees


CEO, Consumer Clarity Dennis Devlin

25 years experience marketing strategy, insights & consultation7 years dedicated to Millennial consumers/shopper insights Entrepreneur of the Year, Legacy Center 2011/12President, American Marketing Association Cincinnati Chapter 2013/14National Chapter Volunteer of the Year, American Marketing Association 2016

Dennis Devlin is currently CEO of Consumer Clarity, which he founded in 2009. Consumer Clarity is a consumer marketing consultancy specializing in millennial consumer and shopper insights and strategy development for consumer product manufacturers, consumer service providers and retailers. Dennis has been involved in insights and strategy work for more than 25 years, with the last 7 years focused on the millennial consumer and shopper.Dennis was awarded the Entrepreneur of the Year award by the Legacy Center in 2011-2012, celebrating entrepreneurial success and was very recently name the 2016 National Chapter Volunteer of the Year for the American Marketing Association.

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Why shouldyou care? Foundation for Millennial Effectiveness Millennials as Retail Consumers Millennials in the Retail Workforce


FOUNDATION FOR MILLENNIAL EFFECTIVENESS

10DEMOGRAPHICALLY

Upper Teens to mid-30sMENTALLY

The Millennial Mentality

BEHAVIORALLY Life Stages & Response to Brands/MktgUnderlying Values Across the Generation Bind ThemWho are they?

Defining the Millennials

We tend to DEFINE millennials by their age, but their age really doesnt define them. Rather, it is how they think and behave that defines them. 10

11Over 80 Million in U.S. >$600B spend annually

Influence other generations purchasesAs a Customer

By 2020, millennials will comprise ~50% of employed personsAs an EmployeeNow the largest generation, EVER!The Impact of Millennials

Millennials impact is significant, regardless of the role they play as a customer or as an Employee11

13Understanding millennials

SO MUCH INFORMATION IN THE MEDIA THAT IS SHARED IN SOUND BYTES SIMPLY IS INACCURATE ABOUT MILLENNIALS. BECAUSE IT IS SHARED WIDELY THESE INACCURACIES BECOME PERVASIVE IN PEOPLES MINDS. ITS TIME TO HANDLE THE TRUTH.13

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All millennials have an attitude of entitlement.

Myth #1

Will make a reference to how millennials actually have an attitude of empowerment.

WE MAY DO A QUICK INTERACTIVE ENGAGEMENT OF THE AUDIENCE HOW MANY PEOPLE BELIEVE THAT MILLENNIALS ARE . . . .?

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Theyre digital addicts who avoid face-to-face interaction.

Myth #2



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Millennials dont care about the company they work for.

Myth #3



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Millennials are the job-hopping generation.

Myth #4



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They can be lumped together in one group

Myth #5they are all the same, right?



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19REALIZE THE SIGNIFICANT IMPACT MILLENNIALS ARE MAKING & PRIORITIZE THEMMillennial Effectiveness?KNOW THAT MILLENNIALS ARE DEFINED BY HOW THEY THINK AND BEHAVE, NOT BY THEIR AGEUNDERSTAND MILLENNIALS and respond...

QUICK SECTION SUMMARY CONTEXTUALLY, HERE ARE THE FOUNDATIONAL PIECES NECESSARY TO BECOME EFFECTIVE WITH MILLENNIALS.19

MILLENNIALS AS CUSTOMERS

21Brand TransparencyBrand AuthenticityConsumer-Centric Shopping EXPERIENCEIndividualizationChoosing Freely10 DEMANDS on retailersA 3-Way ConnectionPassion PurveyingSelective ValueSocietal Impact A Frictionless Journey

THE EXPECTATIONS OF THE MILLENNIAL SHOPPER ARE REQUIRING RETAILERS TO UP THEIR GAME. YOU MUST MARKET TO THE AUDIENCE, NOT TO THE MASSES.21

22Influencing your sales todayDo shop in stores pre-shop onlineLoyal (redefined - to the team vs. company)Do not treat brands like peopleDo care about brand relationshipsfacts ABOUT THE MILLENNIAL CUSTOMER

HERE ARE SOME MYTHS ABOUT MILLENNIALS AS RETAIL CUSTOMERS. ITS TIME TO BUST SOME MORE MYTHS!

INCLUDE A BRIEF SO WHAT? FOR EACH OF THEM

TRANSITION TO VIDEO HERE WHEN MOVING TO NEXT SLIDE22

23Up & ComersEclecticTrendsettersMavensSkepticsNot all millennial customers are the same!Millennial Customers VaryYOU MUST SEGMENT YOUR MILLENNIAL CUSTOMERS

DONT TREAT ALL MILLENNIAL CUSTOMERS THE SAME. YOU NEED TO SEGMENT THEM. HEERE IS ONE EXAMPLE OF A MILLENIAL RETAIL CUSTOMER SEGMENTATION FROM ORACLE.23

24How do they interact with each other? Millennial Customers Vary

PLAY

DONT TREAT ALL MILLENNIAL CUSTOMERS THE SAME. YOU NEED TO SEGMENT THEM. HEERE IS ONE EXAMPLE OF A MILLENIAL RETAIL CUSTOMER SEGMENTATION FROM ORACLE.

Millennial Shopping videos of Henry/Gabby:Shopping Video:Mp4 attached in .zip file.YouTube Link: https://youtu.be/wIsI9EQuv0o

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25How do they interact with each other? Millennial Customers Vary

PLAY

DONT TREAT ALL MILLENNIAL CUSTOMERS THE SAME. YOU NEED TO SEGMENT THEM. HEERE IS ONE EXAMPLE OF A MILLENIAL RETAIL CUSTOMER SEGMENTATION FROM ORACLE.

Millennial Shopping videos of Henry/Gabby:Shopping Video:Mp4 attached in .zip file.YouTube Link: https://youtu.be/wIsI9EQuv0o

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26Creating an exceptional experience at every step in the customer journey?Making the interaction frictionless?Providing opportunities for customization and personalization?Demonstrating value?Building loyalty?Are you, AS A RETAILER, millennial-ready?Millennial Customer Effectiveness

ARE YOU, AS A RETAILER, MILLENNIAL-READY? YOU MUST BEGIN ASKING THE CRITICAL QUESTIONS IN ORDER TO BECOME EFFECTIVE WITH MILLENNIAL CUSTOMERS.

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MILLENNIALS ASEMPLOYEES

28Helpfulhints

Things that retailers can implementRecruiting Millennials8

RESEARCH WITH COMPANIES THAT HAVE BEEN MOST EFFECTIVE WITH MILLENNIAL EMPLOYEES HAVE IDENTIFIED KEYS TO ATTRACTING MILLENNIALS.

WILL INCLUDE SO WHAT? TO EACH OF THESE.28

29TWO PRIMARY DRIVERS:A company they TRUSTA company that provides HIGH QUALITY products + services

Companies for Millennials

DEMONSTRATED TRANSPARENCY AND A FOCUS ON CULTURE HELPS ATTRACT.

TWO DRIVERS HAVE BEEN IDENTIFIED THAT HELP IDENTIFY COMPANIES THAT MILLENNIALS SEEK TURST AND HIGH QUALITY.

REFERENCE TEMPOES CULTURE29

DONT

30Making a difference really mattersEmbrace a millennial mentalityGive them a reason to believeMindful mentorshipOver deliver on expectations

RECOMMENDATIONs retailers can implementManaging Millennials

DONT

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Learn the millennial language

HOW DO YOU MANAGE MILLENNIALS IN THE WORKPLACE? HERE ARE SOME RECOMMNEDATIONS.

INCLUDE SO WHAT? REFERENCES ON EACH

Three videos of Russ:Dont Language Video 1:Mp4 attached in .zip file.Vimeo (Password: TEMPOE): https://vimeo.com/166511567YouTube Link: https://youtu.be/64Cd80LtMok

Dont Language Video 2:Mp4 attached in .zip file.Vimeo (Password: TEMPOE): https://vimeo.com/166511586YouTubelink: https://youtu.be/YtmA5ohjYes

Do Language:Mp4 attached in .zip fileVimeo (Password: TEMPOE): https://vimeo.com/166511552YouTubelink: https://youtu.be/RKHRmNfg6iw

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DONT


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36BE SURE TO REDEFINE EXPECTATIONS ABOUT TENURE LENGTHCompetitive compensationOngoing feedbackGamification motivatorsFoster learningMobile acceptanceNurture culturePerformance metrics

Helpful hints that retailers can implementRetaining Millennials

ATTRACTING MILLENNIALS IS ONE THING; RETAINING THEM IS ANOTHER. YOU NEED TO REDEFINE YOUR EXPECTATIONS ABOUT WHAT IS SHORT AND LONG TERM TENURES FOR THIS GENERATION, BUT THERE ARE SUGGESTIONS TO KEEP THME LONGER.


WILL INCLUDE VIDEO CLIP HERE36

37Embracing millennial-friendly ideologies, and have a transparent organizationEstablished an appealing workplace culture Inspire employees to make a differenceEngagement and support strategies in place to attract and retainAre you, AS A RETAILER, millennial-ready?Millennial Employee Effectiveness

ARE YOU, AS A RETAIL EMPLOYER, MILLENNIAL-READY? YOU MUST BEGIN ASKING THE CRITICAL QUESTIONS IN ORDER TO BECOME EFFECTIVE WITH MILLENNIAL Employees.37

CLOSING

39Retailers must rise to meet greater expectationsBust the myths to see the truthsDont market the same way to the entire generation Millennials as Customers Have you thought aboUT...? Trust + high quality are drivers of employer choice Critical to demonstrate transparency & foster cultureMaking a difference matters, ensure meaningful work Engagement & support programs are critical for retaining Millennials AS EMPLOYEES

THE TAKEAWAY LEARNINGS . . .39

THANK YOU!NOW, ANY QUESTIONS?