Business

Millennials Will be the Big Spenders in eCommerce This 2020 Holiday Season Predicts Scott O. Hirsch CEO of Media Direct

As we enter the fall season of 2020, many retailers and eCommerce stores are gearing up for their biggest sales quarter of the year. But with the pandemic still tightening its grip on the country, many business owners and digital marketers are considering shifting their strategy. Since the pandemic began, businesses and brands that previously had very little digital presence have stepped up their game to compensate for social distancing restrictions and regulations on the number of shoppers allowed in their stores.

So how best to capture your audience’s attention (and the revenue) in a now even more oversaturated digital landscape? Scott O. Hirsch CEO of Media Direct and digital marketing pioneer, advises that the best strategy to benefit eCommerce marketers is shifting their focus to the Millennial generation.

Scott Hirsch Gives Us A Quick Generational Refresher Course

“Digital marketers should be intimately aware of the definitions of and differences between the generations,” says Scott O. Hirsch CEO and eCommerce expert. “If you’re not already targeting generation-specific ads and messaging, you should consider starting now.”

As a reminder of the generational parameters:

  • Gen Z – born 1997-2006
  • Millennials – born 1981-1996
  • Gen X – born 1965-1980
  • Baby Boomers – born 1944-1964

Depending on your industry and your products, your target audience will differ. If you’re doing digital marketing right, says Scott O. Hirsh, you have to take various data points into consideration – gender, geolocation, etc. But he suggests that in Q4, businesses should focus their attention on the generation of their audience. More specifically – on the Millennials in your target group.

The Case for Targeting Millennial Shoppers According to Scott Hirsch

For years, digital marketing has been pushing a shift from marketing mainly to Millennials to focus on Gen Z. Gen Z is infamous for their almost non-stop screen time, with fewer financial demands than Millennials and Boomers, Gen Z should have more disposable income as well.

Since the pandemic, we’ve also heard a case being made to focus on the retired Boomer. With more age-related health problems, they’re at a higher risk for COVID-19 related complications and, as a result, are staying inside and online more than ever. And data shows that they spend more time on Facebook than any other generation, making them an ideal target for digital marketing ads.

“While these are still very viable markets depending on your brand’s services or products, our most recent data shows that Millenials are the generation you should be focusing on during Q4 2020,” says Scott O Hirsch a CEO and digital marketing pioneer.

According to a survey conducted by CouponFollow in March of 2019, Millennials were found to be doing 60% of their shopping online (pre-pandemic), and a case study by Invesp states that 81.3% of Millenials shop online at least once a month. 36% of those purchases were made from their mobile devices. Over two years ago, Factory360 predicted that Millennial spending would reach $1 trillion by 2020.

According to Myles Kleeger of Braze – a customer engagement platform – Boomers are the generation that misses brick and mortar shopping the most during the pandemic.

Of all the generations, Millennials have proven the most loyal to eCommerce. Kleeger’s study found that 44% of Millennials said they planned to continue shopping online even after restrictions and health concerns are lifted. This is good news, not just for major brands like Amazon, but for small businesses that can offer online retailing. Over half of those surveyed (51%) said they were planning to make almost all their holiday purchases at local small businesses.

Scott Hirsch CEO of Media Direct Discusses the “New Normal”

Since the beginning of the pandemic, we’ve all discussed what the “new normal” will look like. “For millennials, it looks like the new normal is eCommerce,” says Scott O. Hirsch. He advises that if you don’t already have an eCommerce option for your retail store, you consider building one in time for the holiday rush.

And how best to capture your audience? You’ll find them on Facebook (especially those with children) and Instagram. Hirsch recommends that you strike a balance–don’t abandon your current strategy or ignore the other generations as you build your creativity and messaging. Instead, pay more attention to your Instagram and Facebook feeds.

Holiday Revenue Building Tips from Scott Hirsch

  • Increase your Instagram posts by at least 50%
  • Connect your Instagram to your Facebook, so it’s sure to be seen in both places
  • Respond to comments and questions as quickly as possible to build a rapport with your audience

None of us know what the pandemic will look like as we enter the holiday (and flu) season. But if you pay attention to demographic trends and use your social channels to your advantage, you can almost certainly harness Millenial spending habits and come out on top this year!

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