How To Tap Into The Millennial $200 Billion Buying Power
Via Social Media
With the holiday season upon us, most of us have our sights on indulging (or resisting) buckets of Halloween candy, gathering with our closest friends and relatives, and playing Santa.
Holidays are always one of the most anticipated times of the year, but for businesses, they represent more than just fond memories—they’re an opportunity for explosive revenue growth.
This year it is estimated that millennials in the U.S. alone will be spending $200 billion. By 2018, they will have the most spending power of any generation.
Read more here.
What It Means:
While millennials have been the target demographic for brands for years, it is now a reality that they have the MOST buying power than any other demographic. And with that comes the increasingly important role of social media with 62% of millennials saying that if a brand engages with them on social platforms, they are more likely to become a loyal customer. Crazy content isn’t even needed – stick to the basics of being engaging and informative and you’ll have a captive audience.