Every person born between 1982 to 2002 is a millennial. Obviously, we are looking at a great discrepancy in years, but all the people in this group have one thing in common – their state of mind is quite similar. Same as the baby boomers who grew up in the same environment and shared similar characteristics, millennials are also characterized by specific mindsets and behaviors. Still, being the largest generation with over ninety million people in the United States alone, defining all millennials as one is a tough nut to crack.
Characteristics of Millennials
In order to discuss the e-commerce trends that apply directly to this group, we first need to establish the common characteristics of millennials.
Known as the generation who grew and is native to technology, most millennials have limited money and many student loans. The unpredictable economy has led to a highly educated generation and under-utilized skills. Due to such circumstances, millennials often opt for more flexible jobs and lead a very independent life. Their priorities have shifted a lot from those of the generations before this one. They are team-oriented, ‘global citizens’, progressive and pragmatic.
‘A millennial is a person who is highly aware of political, environmental and economic issues. They’ve grown and developed through it all, so they are free thinkers and highly conscientious people. There’s no other group in our history from which you can expect more liberal behavior and people ready to defend a cause they strongly believe in.
Money used to be the moving force in the world, but since millennials, it became a second priority. Millennials prefer to work for passion instead of for money. They are more likely to do something they love for less than do something they hate for more. For a millennial, meaningful things don’t always combine with or include money.
And finally, millennials are technology-driven. Having grown with technology, they literally live and breathe this lifestyle. They are technology experts, which allows them to strive in most industries of today, seeing how far technology has progressed. Basically, automation is the closest friend a millennial has.
Taking all this into consideration, millennials can strive in the entrepreneurial world by adopting automation and marketing activities. The following e-commerce trends for this generation are the most promising when it comes to this generation.
1. E-commerce Store
E-commerce stores can take much resources and time, especially if you want to start them from scratch. In this sense, tools like Woocommerce for WordPress can help a lot, even on the platform which isn’t primarily set for e-commerce.
A fine, more focused alternative is to use SaaS or software as a service platform. The most popular of them all with millennials is Shopify, providing a smooth operation and features that are focused on specifically e-commerce. All of the features and add-on apps that come with it are designed to improve the purchasing experience, which eventually leads to improved revenue and an increase in sales.
Basically, there are plenty of choices related to this trend. An e-commerce store is one of the most popular ways to build and grow a business, and a large number of templates you can choose from can fit all of your business’ needs.
2. Drop shipping E-commerce Model
The second biggest trends in the e-commerce world used by millennials are the drop shipping management model. This generation finds it convenient and attractive due to its flexibility and low cost. With this model, there is no need for keeping inventory or fulfilling orders. It basically functions by allowing retailers to put all their focus on acquiring customers and marketing their services. The fulfillment of order shipping is done by the manufacturer or wholesaler.
Examples of this model include once again the Shopify e-commerce platform, with its highly efficient management app named Oberlo.
3. Inbound Marketing
Also referred to as content marketing, inbound marketing is the rage in the millennial world nowadays, especially between e-commerce entrepreneurs. This method is used by millions with the goal to generate leads daily without the high costs.
Millennials love blogging and are the most numerous group of bloggers on the Web at this point. With the appropriate use of SEO keywords and consistent, quality content, they attract more and more visitors to their e-commerce business.
Even those who aren’t experts in writing take on this trend. Its benefits are unbeatable, which is why many have their blog posts ghostwritten by other writers or companies like EssayOnTime.
4. E-mail Drip Campaign
This automated model is highly praised by millennial entrepreneurs. One such tool is Zapier, an automation app that uses autoresponder e-mails for the purpose of on-boarding, welcoming new subscribers, nurturing leads, following up carts, sharing recommendations and confirmations, and tracking unsubscribes.
The e-mail drip campaign saves time that millennials hardly have while keeping them updated on everything they need to know. It also does wonders with maintaining a strong front line with customers and keeping them happy.
5. Thought Leadership Sales Funnel (Ghostwritten)
Combining the previous strategies is the goal of most millennials today, but many of them also add this trend into the mix. In order to establish yourself with a sales funnel and as a thought leader, you might want to consider this method that millennials use for all their e-commerce strategies.
The ghostwritten sales funnel is a way to put yourself alongside the best influencers. This means that you can hire a ghostwriter with the guarantee of a best-selling content and status on Amazon.
Once you become established as a founder of a startup, the ventures will result in exposure and increased revenue. Free content in the form of e-books is highly appreciated and adored by the internet uses, which is why the technology-driven generation has decided to grasp ghostwriting as a powerful tool for succeeding in the business world.
The effect of an e-book can easily go viral, which brings high value and creates a sales funnel that attracts extra revenue.
Millennials aren’t like any other generation that has existed in this world. They are the biggest group of them all and yet, they share similar characteristics and technology-driven skills. They are highly aware of the power automation has and apply it in their business strategies for higher, faster, and cost-effective results. Because of it, implementing their most popular trends can make your own online business grow fast and exponentially.